Woodbury mixed-use development advances

Lupe Development project will replace motel, office space with medical building, restaurant, retail space. 

The Key Inn motel and the former Spire Credit Union in Woodbury are to be demolished to make way for a mixed-use development that will include a medical office building and retail spaces.

The Woodbury City Council on Oct. 9 approved Minneapolis-based Lupe Development Partners’ planned unit development application for the project. The plan is to replace the motel, located on Valley Creek Road close to Interstate 494, with a 34,000-square-foot medical office building.

Learn more about the project in the Star Tribune.

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Lupe to redevelop retail site in Woodbury, Minnesota into medical office

Lupe Development Partners has unveiled plans to redevelop a 6.7-acre retail site at the intersection of Valley Creek Road and I-494 in Woodbury. Lupe will tear down an existing Key Inn motel to make way for a new 34,000-square-foot medical office building. There will also be a credit union-anchored retail building and a drive-thru restaurant. 

Read more about this project in Heartland Real Estate Business.

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Woodbury’s Key Inn to be demolished to make way for redevelopment

The troubled Key Inn will soon be no more.

Woodbury City Council approved an application Wednesday evening for Minneapolis-based Lupe Development Partners LLC to redevelop the southwest corner of Valley Creek Road and Woodlane Drive. Plans include demolition of the motel, located at 1806 Wooddale Drive, along with a multi-tenant office building at 6949 Valley Creek Road.

Read more in the Bulletin.

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Mixed-use redevelopment will replace problem motel in Woodbury

Lupe Development Partners has the green light to redevelop the southeast quadrant of the Interstate 494/Valley Creek Road interchange in Woodbury with retail and medical office. 

The Minneapolis developer received City Council approvals for the $25 million project Wednesday night. Lupe plans to demolish the Key Inn Motel and the Spire Credit Union building on the 6.75-acre site, according to a press release. The Cowboy Jack’s bar in between those two buildings will remain, as will two small office buildings, which will be renovated. 

Read more about the redevelopment in the Minneapolis/St. Paul Business Journal.

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Lupe Development Partners plans redevelopment of high-profile Woodbury intersection

Mixed-use campus on Valley Creek Road includes medical office building, quick serve restaurant, financial service and other retail

Woodbury, Minn. — Lupe Development Partners announced today a mixed-use redevelopment of key retail properties at the intersection of Valley Creek Road and Interstate 494 in Woodbury. Minneapolis-based Lupe Development plans to bring a new multi-tenant medical office building and prime retail including a drive-through restaurant to the 6.75-acre site.  

A key component of the new development is a 34,000-square-foot medical office building. As part of the project, Lupe Development will acquire and tear down the existing Key Inn motel to build the medical office facility. The retail buildings – a national chain restaurant and another 5,000-square-foot credit union anchored building – would front Valley Creek Road. Two small office buildings on Woodlane Drive would also be significantly renovated and made available for multi-tenant use. The Woodbury City Council approved the project at its Wednesday night meeting.

“The Valley Creek project is a once-in-a-generation site assembly opportunity in a high-demand market,” said Steve Minn, vice president and chief financial manager of Lupe Development. “The City of Woodbury has a forward-thinking vision for more employment, retail and services at this key site and we are enthusiastic about the project’s ability to meet that vision.”

The project is also located near the Woodbury Theatre stop and park-and-ride on the Gold Line, a planned 10-mile dedicated bus rapid transit route along Interstate 94 from Woodbury to downtown Saint Paul.

“During the 2040 Comprehensive Plan update, the City positioned this area for redevelopment,” said Eric Searles, Woodbury City Planner. “We are pleased that Lupe was able to assemble the various properties and are excited to transform this ‘gateway’ area into a vibrant new commercial development.” 

Following the project’s approval, Lupe Development will begin demolition of the Key Inn in early 2020, and the former Spire Credit Union building in April 2020. Following construction, the first new buildings are scheduled to be operational by September 2020.

Marketing and brokerage of the retail building has been assigned to Sara Martin and Molly Townsend of Colliers International.  The medical office building is being marketed by Aaron Barnard and Anne Stahley of Cushman & Wakefield.

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Lupe Development Partners to break ground on phase one of Lyn-Lake affordable housing development

Lupe Development Partners announced today it has closed financing and will break ground on the first phase of its housing campus in the Lyn-Lake area, marking a major milestone in the project’s development. Located at 410 W. Lake Street, the first of three buildings will include 111 affordable housing units with nine units 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, programming and services. To be eligible for housing, residents will need to meet income restrictions of $30,000 to $42,000 a year. The development will include a mix of studio, one- and two-bedroom units. Construction on a second identical building – phase two of the project – is scheduled to begin in 2020. Plans are currently underway for a third building at the northeast corner of Garfield Avenue and West Lake Street.

Read more about the ground breaking in the Minnesota Real Estate Journal.

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Lupe Development Partners to break ground on first phase of affordable housing project in South Minneapolis

Lupe Development Partners is set to break ground on the first phase of its affordable housing project in the Lyn-Lake area of Minneapolis. Located at 410 W. Lake St. south of Minneapolis, the first of three buildings will feature 111 units, nine of which will be intended for homeless veterans. The range of annual household income to be eligible for housing is $30,000 to $42,000. 

Read more about this project in Heartland Real Estate Business.

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Lupe Development Partners to break ground on phase one of Lyn-Lake affordable housing development

Lupe Development Partners announced today it has closed financing and will break ground on the first phase of its housing campus in the Lyn-Lake area, marking a major milestone in the project’s development. Located at 410 W. Lake Street, the first of three buildings will include 111 affordable housing units with nine units 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, programming and services. To be eligible for housing, residents will need to meet income restrictions of $30,000 to $42,000 a year. The development will include a mix of studio, one- and two-bedroom units. Construction on a second identical building – phase two of the project – is scheduled to begin in 2020. Plans are currently underway for a third building at the northeast corner of Garfield Avenue and West Lake Street.

“In a neighborhood where abundant, quality housing is often only available through luxury properties, the Lake Street Apartments will provide greater affordable housing choices to working residents,” said Steve Minn, vice president and chief financial manager of Minneapolis-based Lupe Development Partners. “We are proud to serve homeless veterans by including safe, veteran-specific units in the development, and look forward to continuing our partnership with Hennepin County and the VFW Post 246 on this important issue.”

“Stable housing is a right. The vitality of Minneapolis is dependent upon every person in our community having access to a safe, reliable home,” said Minneapolis Mayor Jacob Frey. “The Lake Street Apartments are a great example of the positive impact the private sector can have in creating smarter, more affordable housing options. This investment in the Lyn-Lake neighborhood will benefit all of Uptown.”

Located close to the Midtown Greenway in a transit-rich area, the Lake Street Apartments will feature various amenities, including a fitness facility, a business center, community rooms, outdoor decks, a green roof, solar panels and a bike room with a repair station. The development is also within a half-mile of the new Bus Rapid Transit (BRT) station at Lake Street and I-35W, and is served by several high-frequency bus routes.

In fall 2018, the Metropolitan Council awarded the project a $1.2 million grant from its Livable Communities Demonstration Account and the Minneapolis City Council approved a $2.375 million loan from its Affordable Housing Trust Fund. Other funding partners for phase one of the Lake Street Apartments include Hennepin County and the AFL-CIO Housing Investment Trust, which agreed to be the senior construction and permanent lender on the project because of the firm’s commitment to skilled labor.

“Lupe Development has made a concerted effort to utilize the highly trained unionized construction workforce in Minneapolis on its affordable housing projects,” said Dan McConnell, Minneapolis Building and Construction Trades Council business manager. “This effort – in conjunction with Frana Companies – has produced a high-quality product delivered on time and on budget, and we have been pleased to be a part of that work.”

Full construction is estimated to be completed by June 2020. Opportunities to lease units in the new development will begin in February 2020.

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Senior housing developers partner with Minneapolis’ Bryn Mawr neighborhood

Hundreds of apartments for seniors could rise in the Bryn Mawr neighborhood of Minneapolis, without the conflict that often accompanies new developments in old neighborhoods.

On Thursday, the Minneapolis Planning Commission’s Committee of the Whole heard a presentation about the project from Lupe Development and Swervo Development. But the project has been in the works for more than a year.

Read more about this collaborative project in the Star Tribune.

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Revised Bryn Mawr plans put focus on seniors

A pair of Minneapolis developers have updated their plans to remake the former CenturyLink campus in Bryn Mawr, far more than doubling the number of units devoted to seniors.

Steve Minn of Lupe Development and Ned Abdul of Swervo Development plan on building two six-story, 100-unit senior apartment buildings, including one that’s exclusively for people with incomes below a certain threshold. Together, the buildings will occupy the west side of the 8.3-acre site, which includes a vacant 100,000-square-foot office building flanked by surface parking lots. Abdul currently owns the entire site.

Read this Southwest Journal story to learn more.

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