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.
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