Spring construction planned for apartment near Lyn-Lake

Southwest Journal by Nate Gotlieb

A Minneapolis-based development company says it expects to start construction this spring on a 111-unit affordable apartment building near Lyn-Lake.

Lupe Development Partners announced Nov. 26 that it would be “accelerating” the start date for the building, the first of two it will build in the neighborhood. The company said in a press release that it expects to start building the second 111-unit building in spring 2020.

The first building will be located at 410 W. Lake St., which is two blocks east of Lake & Lyndale. The second would be located at 510 W. Lake St., which is one block east of the intersection.

The City Planning Commission approved plans for 410 W. Lake St. this past summer. Lupe said it expects to begin leasing the building in 2020.

Residents will need to meet income restrictions of $30,000 to $42,000 a year, the press release said. The building will include nine units intended for veterans who are homeless.

Lupe is partnering with Hennepin County and the nearby James Ballentine Uptown VFW Post 246 to serve the veterans.

Read the full article here.

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Lupe Development to build affordable housing project in Minnesota

Midwest Real Estate News

Lupe Development Partners is accelerating its start date for the first phase of an affordable housing development campus in the Lyn-Lake community of Whittier, Minnesota, after receiving two critical funding contributions from local partners.

The Metropolitan Council recently awarded the project a $1.2 million grant from its Livable Communities Demonstration Account, while the Minneapolis City Council approved a $2.375 million loan from its Affordable Housing Trust Fund.

The first of two buildings will be located at 410 W. Lake St., and will include 111 affordable housing units including nine intended for homeless veterans. Lupe Development is partnering with Hennepin County and the nearby Ballentine VFW Post 246 to serve homeless veterans with safe housing and services. Construction on phase two – an identical building – is scheduled for a 2020 start date.

Read the full story here.

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Lupe Development to break ground on affordable housing project in Minneapolis this spring

REBusiness Online by Kristin Hiller

Lupe Development Partners plans to break ground on an affordable housing project in the Whittier neighborhood of Minneapolis this spring. The start date for construction was unveiled after Lupe received a $1.2 million grant from the Metropolitan Council’s Livable Communities Demonstration Account and a $2.4 million loan from the Minneapolis City Council’s Affordable Housing Trust Fund.

Read the full story here.

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Lupe Development Partners predicts spring 2019 start for affordable housing featuring units for veterans

Lupe Development Partners announced today it is accelerating its start date for phase one of an affordable housing development campus in the Lyn-Lake community of Whittier after receiving two critical funding contributions from local partners. The Metropolitan Council recently awarded the project a $1.2 million grant from its Livable Communities Demonstration Account, while the Minneapolis City Council approved a $2.375 million loan from its Affordable Housing Trust Fund.

The first of two buildings will be located at 410 W. Lake St., and will include 111 affordable housing units including nine intended for homeless veterans. Lupe Development is partnering with Hennepin County and the nearby Ballentine VFW Post 246 to serve homeless veterans with safe housing and services. Construction on phase two – an identical building – is scheduled for a 2020 start date.

“Lake Street Apartments will address a growing need for quality, affordable workforce housing in this neighborhood,” said Steve Minn, vice president and chief financial manager of Minneapolis-based Lupe Development Partners. “Gentrification has priced many existing residents out. Our funding partners and VFW Post 246 will help us do our share to address veteran homelessness, which we are excited to include in our program.”

The proposed phase one development would include a mix of studio, one- and two-bedroom units. To be eligible for the housing, residents will need to meet income restrictions of $30,000 to $42,000 a year. Located close to the Midtown Greenway, the proposed development will feature a green roof, solar panels, a fitness facility, a business center, community rooms, outdoor decks, and a bike room with a repair station.

Phase one plans were approved by the City of Minneapolis in August 2018. Construction is expected to begin in Spring 2019 with leasing beginning in 2020.

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Summit Academy Charitable Golf Tournament.

Lupe project team supports Summit Academy.  L to R… Lupe VP Aaron Diederich, Frana Project Manager Darren Scott, Pope Architects President Ward Isaacson, and Frana President Mike Benedict, share a moment at the Oak Ridge Golf Course, where Lupe was a proud double hole sponsor for the annual Summit Academy Charitable Golf Tournament…

 

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East Side Apartments Grand Opening

Lupe Development and City of Saint Paul officials marked the official opening of East Side Apartments. The new apartment’s 114 affordable housing units in Saint Paul’s Dayton’s Bluff neighborhood began welcoming tenants in fall 2017, and are now fully leased. Combined with the newly renovated Wilson Ridge Apartments next door, a total of 216 affordable housing units have been created or maintained as a part of this project.

Watch the press conference. 

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Artspace withdraws its Grain Belt proposal

People who missed a recent presentation at East Side Neighborhood Services of proposals for the last developments in the Grain Belt Brewery campus got another chance on Thursday, March 8. Third Ward City Council member Steve Fletcher’s office put together an Open House at the FOOD Building that allowed local residents to talk to the developers in more depth.

Two of the developers who’ve submitted proposals for the City’s Request for Proposal for the remaining parcels in the area were present: Nordeast Development (a Lupe Development, Wall Companies and Ecumen partnership) and the Landon Group / Lander Group / Newport Partners. Members of both stood by their illustration boards and discussed their projects with guests.

Landon Group’s Becky Landon told one listener, “We have a vision of a vibrant housing and retail area; and we want to pay attention to the historical and environmental issues, as part of the public realm. We want to engage with the neighborhood about our shared values.”

At the Nordeast Development table, Maeve’s Coffee Shop owner Mary Cassidy spoke with Lupe Development’s Cameron Flakne. Cassidy said, “I understand the need for development and density, but I don’t want my customers pushed out the door. I wonder if there’s any thought to the future; and how do you keep the artists? How do you protect the people already here?”

To a question from another guest about “the Ramble,” a space between the existing Warehouse and Bottling House, Flakne said that while it is technically a right-of-way, and will be available for public events, it is analogous to the Downtown Commons, in that the property will be owned by the developers.

Notably absent from the evening’s presentation were representatives of Artspace, the third developer to present a proposal at the previous meeting. Artspace has owned and operated the Bottling House and Warehouse since 2004, and had proposed an expansion of studio space, new multi-family residential construction, and improvements to both of the existing buildings. Heidi Zimmer, Artspace’s Senior Vice President of Property Development, provided a statement on Monday, March 12:

“Artspace withdrew from the City RFP process as we have concluded that Artspace can more effectively accomplish our goals for the campus through collaboration with the selected master developer than we can through acting as master developer. This conclusion was reached after internal discussion regarding Artspace’s reflection on how to best serve the artist tenants of the Grain Belt campus and also one of our own capacity, as we are focused on the successful completion of Northside Artspace Lofts, a Minneapolis project in the Harrison neighborhood poised to start construction later this year. We welcome the opportunity for continued engagement and collaboration with city leaders and developers for the Grain Belt RFP.”

Fletcher said he felt that the Open House “was a really constructive event. People brought up issues the developers hadn’t addressed, and the access to the process of the development was greatly increased.”

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Minneapolis apartment proposals hit market niches

March 19, 2018

Untapped or underserved apartment niches in Minneapolis neighborhoods have developers proposing three projects they hope to build during the next two years.

The largest of the projects is a two-phase apartment complex proposed in the Whittier neighborhood targeting renters earning 50 to 60 percent of the area median income, which is $90,400. Minneapolis-based Lupe Development Partners is proposing to start construction in summer 2019 of the first phase building at 2941 and 2943 Harriet Ave., and 414 and 410 W. Lake St.

The project would bring workforce housing to a part of the city that needs more of it, said Steve Minn, Lupe’s vice president.

“There is an incredible unmet need,” he said in an interview. “The demand is there.”

Lupe’s project was one of three that made their public debuts before the Minneapolis Planning Commission Committee of the Whole earlier this month. Also introducing new apartment proposals were Reuter Walton Development and Thor Cos.

Lupe’s Lake Street Apartments are on the longest timeline. The second phase of the apartments will start about a year after the first building opens in 2020, said Lupe’s Minn. The six-story complex will eventually total 222 units, according to documents filed with the city, and include walk-up units along Harriet Avenue South. The unit count is higher than the 168 Lupe proposed last summer because the developer purchased a second property across Harriet Avenue.

No commercial space is proposed for either phase of the project. Parking for the building will be on one underground level and one level at grade.

The development cost of the Lake Street Apartments is about $22 million for each phase, Minn said.

A little closer to downtown, Minneapolis-based Reuter Walton plans to build its 80-unit Riverside Apartments at 2510 Riverside Ave. The six-story building will consist largely of smaller, market-rate units that will be more affordable because of their size, said Kyle Brasser, a developer with the company. The development site — directly south of the University of Minnesota and the Masonic Children’s Hospital — is currently occupied by three single-family homes and a commercial building.

Expected renters will be hospital and university staff as well as some students.

“We feel like it’s an untapped area,” Brasser said in an interview. “There has not really been any new housing developed in the area.”

The Riverside Apartments will receive a preliminary development review before the Planning Commission this week. Development costs for the project are expected to be $16 million, Brasser said. Reuter Walton already owns portions of the project site.

The third project, proposed by Thor Cos. subsidiary Thor Living, may establish two firsts. The 44-unit building planned for a vacant site at 1925, 1931 and 1935 Park Ave. would be the first multifamily project for Minneapolis-based Thor. The four-story building — called the Apartments at Franklin & Park — would be built using modular construction. If completed, it would likely be the first of its kind in Minneapolis, according to Thor’s website. “In the city of Minneapolis, we don’t know of one,” said Thor Living President Pat Cruikshank in an interview.

The construction method could shorten the usual 12-month timetable for building apartments to five to six months. Thirty-five building sections built in a factory would be assembled on the project site, city documents show. Cruikshank declined to state an exact development cost, but said it will be similar to that of a traditionally built apartment building of that size.

Rents are expected to be somewhere between market rate and levels that are considered to be affordable. The unit mix would include one-, two-, and three-bedroom apartments.

“We’re calling it attainable housing,” Cruikshank said.

The project will likely get a preliminary development review within the next month, he said.

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Bryn Mawr CenturyLink site may hold office space, senior, affordable housing

Southwest Journal by Michelle Bruch

Two developers are teaming up to redevelop the former CenturyLink office site at 2800 N. Wayzata Blvd. They envision new office tenants in the existing CenturyLink building, perhaps flanked by 100 units of market-rate senior housing on the east side and 150 units of affordable family housing on the west side. Developer Ned Abdul of Swervo Development (behind the downtown Armory renovation) would handle the office development. Steve Minn of Lupe Development (behind the Eat Street Flats) would handle the residential development.

Although Lupe has suggested heights of three-five stories, Minn said he wants neighborhood input.

The neighborhood association is co-hosting a design charrette on Tuesday, May 22, where several design concepts will be presented.

“I’m really focused on not making any presumptions about what will be there so the neighborhood has a chance to weigh in and look at the options and give us some feedback,” Minn said. “…I really want neighborhood buy-in on this.”

Read the full article here.

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Snelling Yards housing concept gets bigger

Lupe Development, The Wall Cos. and Ecumen are boosting the size of the two-building apartment complex, at 3601 44th St. E. in Minneapolis, by 48 units to 251. The developers are planning a $58 million project consisting of a 121-unit affordable apartment building and a 130-unit affordable, 55-plus age-restricted building, according to a city staff report.

Read more.

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