TUESDAY, NOVEMBER 18, 2008

New Minneapolis apartment complex approved by City Planning Commission

by Walter Kovacs
Minneapolis Venture, LLC's, plans for a new apartment complex, tentatively named 1810 University Ave., in Minneapolis have been approved by the City Planning Commission. The proposed 25 story development will have 369 units.

Minneapolis-based Alatus Management purchased the Grandma's Saloon property that will be torn down for the development almost two years ago and is the managing partner on the development. Groundbreaking is set for early 2009 with a completion date of the start of the 2010-2011 school year.

Minneapolis Venture plans on marketing the apartments, which will be one block from a light-rail station, to University of Minnesota students and employees. The first floor of the building will have approximately 5,000 square feet of retail space.

As part of the purchase agreement of the property, LEED certification from the U.S. Green Building Council will be a requirement of any development there.

Address: 1810 Washington Ave. S., Minneapolis, Minn.

Size: 369 units