Coon Rapids developer Jim Stanton received approval this week from the Minneapolis Planning Commission for his biggest downtown condo project yet: the Legacy, a 374-unit building near the banks of the Mississippi River. Next stop for the project is a vote by the Minneapolis City Council.
Stanton's latest downtown condo project clears hurdle
May 27, 2016 at 3:11AM
The commission was asked to approve a request to rezone the land and to issue a conditional-use permit. The developer was also asking for permission to exceed height restrictions in the area, which currently limit buildings to six stories or 84 feet, according to a city staff report. The height of the proposed building is 17 stories or 190 feet in height.
Through his Coon Rapids-based Shamrock Development, Stanton first proposed the project in February after he bought a surface parking lot and the shuttered Cenveo Building, which is now being demolished.
The 4.27-acre site is at 121 12th Av. S., one block from West River Parkway and the Mississippi River in the Minneapolis Mill District. It's a few blocks from two other Stanton condo projects — the Bridgewater and StoneBridge Lofts.
Stanton also is in the final months of construction of Portland Tower, a 112-unit condo tower at the corner of 8th Street and Portland Avenue in downtown Minneapolis.
The 17-story project topped off in early April, and closings are expected to happen in August. Luke Kleckner, a ReMax Advantage Plus agent who is marketing the project, said that 53 are sold.
At the Cenveo site, Stanton initially proposed building a 14-story building with 374 for-sale units and 700 underground parking stalls. The project was met with some reluctance from those who felt it was too monolithic in its height and scale, so the project was sent back to the drawing board.
The revised plan still calls for 374 units with 704 enclosed parking spaces, but those units would be distributed among structures of varying height. The tallest portion of the building would be a 17-story tower nearest to S. 2nd Street and adjacent to an eight-story building and near a 14-story tower on the portion of the site closest to the Mississippi River. An amenity space will have a pet grooming area, community rooms, an exercise facility, swimming pool and a roof terrace.
Kleckner said marketing is expected to begin in four to eight weeks.
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