MINNEAPOLIS, MN - Adolfson & Peterson Construction (AP), a national, family-owned construction management and contracting company, recently broke ground on Artessa Mound Harbor, a cooperative living community for people 62 years and better in Mound, Minnesota. Located on Auditors Road less than a mile from Lake Minnetonka, Artessa Mound Harbor will include 125,000 square feet of living and community spaces at completion in August 2024. Artessa Development, an affiliate of Lifestyle Communities, is the experienced developer of the co-op community; AP is constructing the building and installing tenant finishes in partnership with Kaas Wilson Architects.
"The West Metro continues to see demand for high-quality amenities and buildings among potential community members," said Blake Invie, Project Manager at AP. "We're proud to support the redevelopment with a state-of-the-art living facility in the heart of the walkable Mound community. This is a great opportunity for AP to build upon our expertise in senior living and establish a partnership with Artessa Development and Lifestyle Communities that will extend to communities around the country."
Artessa Mound Harbor is comprised of 52 high-end senior co-op residences with 11 unique floor plans ranging from 1,006-1,905 square feet. One element that sets the co-op style apart from other senior housing options is the wide array of resident personalization options offered in each unit. Members choose a home plan situated across four floors of cooperative living. The main floor boasts roughly 6,150 square feet of indoor amenities and nearly 2,000 square feet of outdoor living spaces that act as an extension to a member's private residence. Some of the many amenities include pickleball courts, fitness areas, lounges, a woodshop, a coffee bar, liquor lockers, a community kitchen and a theater. Exterior features include gathering areas, firepits, grill stations and a terrace.
"Artessa Mound Harbor provides members with an alternative to owning a single-family home or a townhome," said Dena Meyer, President of Lifestyle Communities, Artessa Development. "It's an appealing option for people looking to enjoy a home where they can collectively own and control the cooperative community in which they reside."
In Artessa communities, members buy a share in the cooperative corporation, which owns the land, building and common areas. This type of residential housing provides for steady annual growth of members' equity at a fixed rate of return of the initial share payment. This ensures that homes remain affordable and marketable long-term."
AP prioritizes fostering engagement with the community, city officials and local neighbors and business owners throughout the entirety of the project. Moreover, AP has directly collaborated with neighboring businesses to ensure their continuous operation during the construction phase. Additionally, the project team has diligently implemented an especially strict stormwater management plan to protect Lake Minnetonka.