Top Projects of 2016 series: 2700 University
via Finance & Commerce
“2700 University brings a transit-oriented, mixed-income development to University Avenue near the Minneapolis-St. Paul border.”
“When you’re on University Avenue, it’s difficult to tell where Minneapolis ends and St. Paul begins. The facade of 2700 University makes it easy, with the words ‘Saint Paul’ in large letters near the rooftop.
The city of St. Paul was instrumental in making the mixed-income apartment building happen. City officials had wanted a vibrant use for the long-vacant site. Indianapolis-based developer Flaherty & Collins wanted in on the Green Line light rail corridor’s multifamily housing boom, agreeing to make 20 percent of the building’s 248 units affordable. The Metropolitan Council, nonprofits Local Initiatives Support Corp. and National Equity Fund Inc., and BMO Harris Bank joined St. Paul’s Housing and Redevelopment Authority to secure funding.”
“The building’s location across the street from the Green Line’s Westgate Station should attract commuters to the Hodges Bend coffee shop and bar, scheduled to open in 3,000 square feet of the building’s first floor in October, Cronk added. Residents can congregate in the 200,000-square-foot courtyard, with its saltwater swimming pool. An outdoor “bark park” includes a doggie fountain. Indoors, there’s a fitness room and yoga studio, and ample bike parking.” Read More