Alatus buys site of funeral home, athletic club near St. Anthony Main

Star Tribune –

Minneapolis-based developer Alatus has closed on the $2 million purchase of land at the corner of Central Ave. and 2nd St. SE, just across the river from downtown Minneapolis, where it plans to build a residential tower with a restaurant and retail at street level.

The firm has presented plans to city officials for a 40-story tower with 325 units, though no final decision has been made on its size, type or when it will begin construction. Alatus has also contemplated a smaller tower of 25 to 30 stories.

Alatus hopes to submit new plans to the city within 60 days, the group’s marketing chief, Carla Dunham, said Wednesday. For now, it is leasing back the property to the two businesses now on it — Washburn-McReavy Funeral Home and the St. Anthony Athletic Club.

By: Evan Ramstad
Date: July 8, 2015 12:24pm CST
View original article 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.