A sign of vitality in the Lyn-Lake area, new market-rate Lago apartments officially open on Lake Street
New community includes arts partnership with We For Art for murals, gallery space and rotating artwork
MINNEAPOLIS — Lupe Development announced today the opening of Lago, its new entry-level, market-rate apartment building located on Lake Street in Minneapolis. Signaling a renewed liveliness to the neighborhood, Lago sits at 500 W. Lake Street and is a seven-story, market-rate building with 132 units and 1,000 square feet of ground floor commercial space. The building combines sought-after living amenities with modern and efficient interiors and is priced to attract entry-level renters working in the area. Following the official completion of construction in early April, the first residents have already begun to move in and the building just launched a new arts partnership with We For Art. Click here to download photos of the completed building and example units.
Lago is part of a larger development community intentionally designed and priced to accommodate residents of all backgrounds and incomes. In addition to Lago, the development includes Lake Street Dwelling, a 111-unit affordable apartment building at 410 W. Lake Street, as well as a planned affordable housing community aimed at accommodating families. Together, 61% of the campus will be affordable, offering a mix of high‐quality rentals with shared amenities at affordable price points.
“The Lyn-Lake neighborhood is a vibrant area filled with a variety of shops, restaurants, arts, green spaces and many other benefits associated with urban living. It’s time to offer greater housing choice and access to this community at a variety of price points,” said Steve Minn, Lupe Development Partners CFO/vice president. “Lago and our other affordable projects in this campus meet this need without compromising style, amenities, location or quality.”
With rents starting at $1,190 per month, Lago offers floorplans of multiple styles including studios, one- and two‐bedroom units, and townhome units. Additional amenities include a coworking lounge, a bike lounge and repair station, a green roof, a rooftop lounge and terrace, and a fitness center. The pet-friendly building also offers a spa, park and treat bar for resident pets. In partnership with businesses in the Lyn-Lake district, Lago will also offer exclusive perks and benefits at nearby establishments for tenants.
The Lago also includes a unique partnership with We For Art, an artist collective changing how art is seen, created, worn, shared, found and sold in the Twin Cities. The Lago supports the collective by displaying artwork from a different artist each quarter and will sponsor two new murals on the building’s west wall by We For Art featured artists.
To learn more about the property and current leasing information, visit thelagoapartments.com.