Address: 2901 4th St. SE., Minneapolis
Another apartment building nears starting line in Minneapolis' Prospect Park
By Don Jacobson
January 31, 2017 at 2:56PM
Type: Multifamily rental
Units: 243
Developers: Timberland Partners, Prospect Park Properties
Architect: Tushie Montgomery Architects
Details: A new development team has stepped into the breach on long-standing plans for a major apartment project in Prospect Park.
Timberland Partners, a local developer converting a 103-year-old office building in St. Paul's Lowertown, has teamed up with landowner Jeff Barnhart of Prospect Park Properties for Green on Fourth, a mixed-income, 243-unit building proposed for the "Boeser site" at 2901 4th St. SE.
The team filed plans shortly after an entity related to Prospect Park Properties purchased the vacant, 2.4-acre lot for $5 million in September, according to Hennepin County records. The seller was a subsidiary of the Cornerstone Group, which in 2011 proposed a similar development.
The Boeser site has long been viewed by city officials and neighborhood backers as a priority in turning the area into a "walkable, arts-centered" cultural district, served by the Metro Transit Green Line. It is close to Rise at Prospect Park, a 336-unit apartment building Barnhart used to own at 2929 University Av. SE. that is now being developed by CA Ventures.
If approved, Green on Fourth will feature 177 market-rate units and 66 units of affordable housing, with 200 underground parking stalls. Groundbreaking is set for this summer and completion by early fall of 2018.
about the writer
Don Jacobson
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