Schafer Richardson to break ground on apartments overlooking the Mississippi River in St. Paul 3840 2160 UrbanWorks

Schafer Richardson to break ground on apartments overlooking the Mississippi River in St. Paul

via Minneapolis/St. Paul Business Journal

“Schafer Richardson Inc. will begin construction in the next couple weeks on a six-story apartment building that will have a rooftop deck looking out toward the Mississippi River near downtown St. Paul.

The Minneapolis developer and its financial partner, Switzerland-based UBS, have acquired a 1.3-acre parking lot at 200 Exchange St. from the St. Paul Housing and Redevelopment Authority. The $2.96 million deal closed on Nov. 21.

Plans call for a 175-unit building with 192 parking stalls tucked under the residential floors. That parking configuration is made possible because the project is on a hillside that leads down from West Seventh Street to the Mississippi River.”  Read More.