MINNEAPOLIS, MN – Minneapolis’ Central Business District (CBD) is now home to the first significant luxury rental community in 25 years. On October 10, 2012, Village Green will break ground on Soo Line Building City Apartments, their sixth City-branded property in Minneapolis. Bringing 254 luxury units to the CBD, Soo Line Building City Apartments will offer amenities and services currently unavailable in Minneapolis.
The Soo Line Building was originally built for the First National Bank of Minneapolis, a predecessor of U.S. Bank, and was the tallest commercial building in the City when it was completed in 1915. In later years, the structure served as headquarters for the Soo Line Railroad. U.S. Bank, a longtime partner of Village Green, is providing financing for the current redevelopment.
“Minneapolis’ Urban Core is home to more than 36,000 residents, 19 Fortune 500 companies and hosts a workforce of over 160,000 people, which is why we continue to bring our luxury City brand to Minneapolis,” said Jonathan Holtzman, chairman and CEO, Village Green. “Our company has nearly 100 years of experience in the housing industry, and what we’re offering at Soo Line Building City Apartments represents the best in contemporary thinking. By transforming a historic building into a mixed use luxury rental community, restoring existing architecture and preserving features and materials – that combination of new and existing materials creates a truly green building.”
The location of Soo Line Building City Apartments is unmatched, and a perfect opportunity for renters relocating to Minneapolis and those who choose to go from suburban to urban living. The property is situated on the southeast corner of Marquette Ave. and 5th St., adjacent to the Nicollett Mall Light Rail Station and Nicollett Ave. Resident will have access to eight miles of Minneapolis Skyway System, allowing residents to conveniently walk to work, retail, restaurants, nightlife and cultural and sporting events without having to take a step outside.
“U.S. Bank is very proud to be a part of this project in downtown Minneapolis,” said John Besse, executive vice president of commercial real estate, U.S. Bank. “ The Soo Line Building is an impressive, historic structure and this redevelopment will enable it to become a premier multi-family property in our downtown core.”
In addition to the world-class amenities and services, the look and feel of Soo Line Building City Apartments’ interior will be that of a luxury, boutique hotel. The three-story lobby will feature a floating glass staircase. Residents can choose to relax with dinner in the outdoor dining space. Visitors can take their computers and lounge in the lobby, complete with a beautiful terrazzo floor and a 24/7/365 concierge. The rooftop will feature year-round, indoor/outdoor Sky Club and Sky Park for entertainment and recreation, coupled with stunning views of the Minneapolis skyline and Mississippi River.
“We are thrilled Village Green continues to invest in creating housing in downtown Minneapolis. Not only do their projects bring jobs to the City, but the additional apartment units will allow for even more people to experience living in downtown Minneapolis,” said Minneapolis Mayor, R.T. Rybak.
The 254 units of Soo Line Building City Apartments will include 42 floor plan options – from studios to penthouses – all with marvelous views. Apartment sizes will range from 450 sq. ft. to 1,500 sq. ft., and will boast 10’6” to 24’ ceilings. The building’s retail space will be home to a restaurant/bar, specialty market and Village Green’s Minneapolis regional office.
In addition to the luxury living, environmentally-conscious living accommodations, Soo Line Building City Apartments boasts a Google Walkability score of 92 percent, or “Walker’s Paradise”. The average Google Walkability score for Downtown Minneapolis is 73 percent.
“The Soo Line Building City Apartment community is the latest step in the evolution of Village Green’s housing options for the urban Minneapolis renter, and I am thrilled to see such a historic building being brought back to its former grandeur,” said Minneapolis Councilwoman Lisa Goodman.
Village Green owns and manages 12 apartment communities in Minneapolis, and the company entered the Minnesota market in the mid-90s. Each new development has been one-step above the previous community, and this has helped create a vibrant downtown community, providing rental housing for employees of many Minneapolis/St. Paul companies or anyone wanting to take advantage of an Urban Core lifestyle.
About Village Green
Village Green, with offices in Cincinnati, Chicago, Dallas, Detroit, Minneapolis and St. Louis, is one of the nation’s largest privately held developers and managers of luxury apartment communities. Established in 1919, Village Green operates approximately 40,000 units in 13 states under five distinct brands: Village Green, City Apartments, Regents Park, Village Park and Leading Furnished Suites. Explore villagegreen.com
About CEL & Associates, Inc.
CEL & Associates, Inc. is the nation’s largest surveyor of tenant satisfaction within the real estate industry. The firm specializes in providing strategic planning services; benchmarking and client/customer satisfaction surveys; compensation program assessment and data; leadership training; and operational assessments to the real estate industry. Each year, CEL & Associates, Inc. tabulates survey results from thousands of properties and hundreds of thousands of residents. For more information, please visit: celassociates.com