WEDNESDAY, DECEMBER 03, 2008
by Jim BrubakerMinneapolis-St. Paul |
| A rendering of the original Penfield Development concept |
Penfield Development, LLC, has announced plans for a revised LEED standard Penfield development in downtown St. Paul that will feature 208 upscale apartments, a 170-room Hyatt Place Select Service and a 30,000-square-foot Lunds grocery store.
The Penfield, originally planned as a 313-unit condo tower in 2005, will begin construction in Fall 2009. The $88 million Penfield development is set to open in 2011.
Financing has not yet been secured for the project, though Lund Food Holdings, Inc., has signed a long-term lease for the first floor retail space.
"Our next step is to secure financing. While we know the financial
market is uncertain, there is always opportunity and interest in
smart, well-designed projects, and we are confident in this mixed-use solution for downtown Saint Paul," Penfield partner Bob Lux said.
The Penfield development will be on the corner of 11th Street East and Robert Streets and incorporate glass, stone and steel for a more modern, sleek design. The apartment tower will provide views of the Capitol grounds, downtown St. Paul and the Mississippi River.
The one- and two-bedroom apartment units, ranging from 694 square feet to over 1,148 square feet, will include dens, balconies and second baths. Amenities at the complex will include a fitness area with a sauna, private parking and a roofing garden.
The 170 room Hyatt Place Select Service, wrapping the corner of 11th and Minnesota streets, will offer high-tech, self-service facilities that include wi-fi connectivity. Rooms will have 42-inch plasma TVs and office desks.
"In the coming weeks, we will be meeting with neighborhood groups and engaging them in the design process. We're looking forward to getting their input and ideas," Lux said.
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