Alatus’ nearly 40-story tower takes shape

The Journal –

Alatus has been back to the drawing board since first surfacing plans last year for a tower on the Washburn-McReavy Funeral Home site.

The Minneapolis-based developer presented preliminary concepts to a neighborhood development committee Oct. 6 that showed several different visions for the site across the river from downtown Minneapolis.

Chris Osmundson, a senior development associate with Alatus, said they’re contemplating a 35- to 40-story tower with a three-story podium in either a classical or more contemporary, glass-heavy style. The neighborhood and developer favor a higher, more modern-looking tower, he said.

The development would be home to approximately 210 condos or 280 market-rate apartments for a 35-story tower, though those numbers would change depending on the height and style Alatus moves forward with. As they presented last year, Osmundson said they would still prefer to build condos.

For reference, the traditionally styled tower is more reminiscent of the 39-story The Carlyle, Alatus’ downtown luxury condo tower, said neighborhood co-chair Hung Russell, while the modern version is similar to other tower proposals slated for the Southeast and Northeast Minneapolis riverfront.

“We’ve narrowed it down to two designs… to really try to get a handle on exactly who is our buyer and what they want to see,” Osmundson said.

Several details haven’t changed from plans that the neighborhood supported last year. A three-story podium base would be home to 7,500 and 10,000 square feet for two commercial tenants, including a restaurant. There would also be five stories of parking, two above retail in the base and three below ground, Osmundson said. An amenity deck would be located on top of the podium.

For parking, Osmundson said there would be about two stalls per one residential unit.

The presented plans broke from previous iterations in no longer incorporating the adjacent St. Anthony Falls parking ramp, as well as nixing townhome units near the ramp, Russell said.

ESG Architects is handling the project’s current design.

The Marcy-Holmes Neighborhood Association’s land use committee voted to support the project last year and Russell said they still approve of the plans. Previous plans showed a 40-story tower with 325 units, though the developer has also contemplated a shorter tower at 25-30 stories.

Alatus closed on the $3 million purchase of two parcels at the corner of Central Ave. and 2nd St. SE earlier this year. The site is home to the St. Anthony Athletic Club and Washburn-McReavy Funeral Home.

Osmundson said Alatus plans to submit demolition permits this fall and expects city approval in the early part of 2016. Demolition and construction could begin as early as next spring.

By: Eric Best
Date: Oct 14, 2015 3:08 pm CST
View original article and images here.

Headquartered in Minneapolis, Minnesota, Alatus, LLC was founded in 2005 with the goal of revitalizing communities through the planning, design and construction of transformative projects. Known for its dedication to excellence, Alatus is a leader in multi-family as well as mixed-use, commercial, and single-family residential real estate developments.

The company also includes MyHomeSource, LLC, which focuses on single-family home construction throughout the Minneapolis/St. Paul metro and brings more than 30 years of real estate, design, and construction experience to each neighborhood. With numerous, award-winning urban and suburban developments, Alatus proudly partners with clients and communities throughout the Upper Midwest.