Multifamily W Minnesota

United Properties earns approval for 134-unit apartment development in Minnesota

  

United Properties’ plans for Venue, a mixed-use apartment development anchored by the grocery store ALDI, has received site plan approval from the City of Chanhassen, Minnesota, to move forward.

The Venue project was approved during a July 10 city council meeting following a review and recommendation by the city’s planning commission and a public hearing last month.

Located at 525 West 78th St. near the Chanhassen Dinner Theatre, Chanhassen Cinema and the SW Transit Park & Ride, Venue will feature a 19,000-square-foot ALDI store as its sole retail tenant. Additionally, the development will include six stories of 134 market-rate apartments over the store, as well as a covered parking garage.

Construction is expected to begin early in 2018 and be completed by early 2019.

Venue is a joint venture of United Properties and Roers Investments. The Joint Venture purchased the property, which currently houses an aging multi-tenant retail building, in 2017.

In addition to United Properties, Roers Investments and ALDI, the project team includes architecture firm LHB, Stevens Construction and Jonathan Adam of Silverstone Realty.