Shorenstein, Ryan Advance Downtown Minneapolis Mixed-Use Project
- May 27, 2015
By Ioana Neamt, Associate Editor
New details and renderings have emerged for 100 Hennepin, a mixed-use project in downtown Minneapolis, reports The Star Tribune.
Ryan Cos. and San Francisco-based Shorenstein are moving forward with plans for a luxury apartment building on the eastern edge of the North Loop neighborhood. The proposal is currently being reviewed by city planners and the Historic Preservation Commission. The development would sit right next to 222 Hennepin, a mixed-use project also developed by Ryan that recently sold for a record $109 million.
The new development at 100 Hennepin would include 159 market-rate rental apartments, as well as a row of 13 upscale townhouses with underground parking. Designed by ESG Architects, the plan also includes retail space at the corners of First and Second avenues.
According to the Star Tribune, 100 Hennepin will incorporate a sixth-floor resident roof terrace and sky lounge, as well as a second-floor fitness center and spa. The main entrance to the six-story apartment building will be located near the corner of Hennepin and First Street and will feature a staircase that leads to the amenities on the second floor.
The Federal Reserve Bank of Minneapolis abuts the upscale project on the other side, and it represents one of the last undeveloped blocks on the popular street. Shorenstein already owns a surface lot and a parking ramp on the block, as well as the nearby Washington Square office portfolio.
According to reporters at The Star Tribune, construction is expected to start early in 2016 and be complete by the spring of 2017.
Ryan Cos. is also working on Downtown East, a mixed-use development adjacent to the new Vikings Stadium in Minneapolis.
Rendering courtesy of ESG Architects via The Star Tribune.
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