Michael Development of Lilydale is proposing a $10 million apartment building to go into downtown Minneapolis’s North Loop neighborhood.
The development would replace a long-vacant, boarded-up gas station near Target Field, according to Michael Development head Mike Swenson.
It would include around 70 apartments spread throughout four levels, along with 5,000 square feet of ground-level commercial space, which could house up to three tenants, he says. Below that would be one story of underground parking.
Under the current plan, the building would also include a rooftop patio, party room, and exercise facility. But “the biggest amenity is the Twins stadium across the street,” he says.
“It’ll be an improvement from the old building there,” Swenson says, adding, “It should be the first building down in that area and should start more development.”
In a
Finance and Commerce story, Fritz Kroll, who leads the
North Loop Neighborhood Association’s livability committee, praises the project, in part for its location, which he says is an up-and-coming area.
“I think that has a lot to do with [the renovation of] Ford Center and the transit station coming online. I think that’s a huge sign,” Kroll says in the story, adding, “I think it’s wonderful that someone’s jumping over there.”
Finance and Commerce reports that the project is part of a development boom in the neighborhood: over 1,200 apartment units are under construction or in planning stages for the North Loop, it states.
Right now, the company is preparing for a related presentation to the city, Swenson says.
Although the proposal is still in early stages, the company has received lots of positive feedback, he adds.
Source: Mike Swenson, Michael Development
Writer: Anna Pratt