In 2013, a Twin Cities landowner posted a Craigslist ad for a half block that fetched considerable attention, in part because of its $5 million asking price.
Workforce housing planned for Minneapolis half block once offered for $5M on Craigslist
March 17, 2017 at 3:08PM
Today, that land is finally being sold and there is a development plan in place for the half block, which fronts the west side of Nicollet between W. 15th Street and Interstate 94 on the south edge of downtown Minneapolis.
Plymouth-based Dominium Inc. wants to build a six-story apartment complex, with 184 income-restricted rentals and 5,500 square feet of commercial space. The apartment developer and manager, one of the largest in the state, presented those plans to the Minneapolis Planning Commission Committee of the Whole on March 9.
The project would stretch along the west side of Nicollet. It would have two connected U-shaped buildings with a courtyard in between. A retail space of 5,500 square feet would be on the ground floor at the corner of Nicollet and W. 15th.
The building would have a mix of one-, two- and three-bedroom units geared toward a range of residents, from singles to families. There will be fitness space, a club room, bicycle repair room and outdoor space that includes a play area for children and a dog run.
The site, which includes several adjacent parcels that are still owned by Robert M. Anderson's Twin Town Properties, according to county tax records, are occupied by a row of small commercial buildings, including a restaurant and vacant military surplus store.
Dominium plans to demolish those buildings and replace them with two six-story buildings connected by an aboveground link on floors two through six, according to a staff report. The 123 underground parking spaces would be accessible from the public alley.
Russ Condas, senior development associate for Dominium, said the site is under contract and that the project is still in the design phase, pending more feedback from the neighborhood and city. He hopes to close on the sale of the property and start construction sometime in August or September.
Rents will be based on HUD guidelines and will based on a percentage of the median area income, and Condas said there's a shortage of such options near Loring Park, which is just a few blocks from the site.
"We feel like there's a strong need," he said. "We're hoping to provide workforce housing in a great part of Minneapolis."
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