‘Towering’ Changes for NE Mpls. with 3 High-Rise Developments Proposed

KSTP.com –

A historic neighborhood in Minneapolis could undergo a “towering” facelift over the next couple of years.

Three high-rise apartment tower projects are on the table right now and all three would be just over the Hennepin Avenue bridge near the historic St. Anthony neighborhood.

One developer would like to build a 30-story apartment and retail complex on the current Nye’s Polonaise site on East Hennepin Avenue. Another proposal suggests a 40-story apartment and retail complex on the current Washburn-McGreavy Funeral Chapel site on Central Avenue. Yet another developer wants to build an 18-story apartment building on the old Superior Plating Company site on First Avenue NE.

If approved, all three projects could add close to 2,000 new residents in the St. Anthony neighborhood, according to the Nicollet Island-East Bank Neighborhood Association (NIEBNA).

Right now NIEBNA supports each project. But, there are some on the NIEBNA Board who are concerned the proposed development on the Nye’s site would violate the restrictions placed on new development under the St. Anthony Historic District guidelines.

All three projects still need city approval to move forward, including a blessing from the city’s Historic Preservation Committee.

Support from NIEBNA does not guarantee passage at the city level, but neighborhood approval is a very big hurdle for any development to clear before the city will even consider a project.

There is a possibility construction for each project could begin before the end of the year and open to the public sometime in 2016.

By: Jay Kolls
Date: March 1, 2015 10:16pm 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.