MINNEAPOLIS, MN - Bryant Apartments, LLC broke ground on Track 29 City Apartments, its new apartment project in Uptown Minneapolis. Track 29 City Apartments will be a two-building addition to the existing 27-unit Track 29 Townhomes. The project will bring an additional 198 market rate units to the Uptown area.
Co-developers RMF Group and Phoenix Development Company, in partnership with Michigan-based management company Village Green, owner Bryant Partners, LLC and construction firm Greiner Construction, are working together on the planning, lease-up, grand opening and overall management of the apartment project. The first 80 units of Track 29 City Apartments will be open in the spring 2013, with the lease-up process beginning in November/December 2012. The project has been financed by Bremer Bank and the Twin Cities Carpenters and Joiners Pension Fund (represented by WhiteStar Advisors, LLC).
Track 29 City Apartments will complete the development of the block between Midtown Greenway and W. 28th Street. Featuring alcove, one bedroom, one bedroom plus den, two bedrooms and two bedrooms plus den layouts, the development’s apartments will range in size from 570 sq. ft. to 1,450 sq. ft. The largest of the styles will be two-story duplex apartments.
“We chose Village Green to manage Track 29 City Apartments because they are a company who has the sensibility, knowledge and experience in emerging urban markets on a regional and national level,” said Ross Fefercorn, principal, RMF Group. He continued, “The Village Green team has a lot of wisdom to share in the lease-up and management process, plus they really know the Minneapolis market.”
Loren Brueggemann, principal, Phoenix Development Co., said, “We certainly appreciate the solid effort of the Minneapolis City Council, Planning Commission and staff in helping to bring this exciting project to fruition.”
Track 29 City Apartments will consist of one four-story building and one six-story building, and will include a pool, community area, quiet Zen and rooftop gardens, access to the Midtown Greenway, Bryant Bikeway and many more luxury eco-friendly design features.
About RMF Group: Since 1982, Ross M. Fefercorn, principal, RMF Group, has planned, directed, designed, financed, developed, constructed and marketed more than 28 commercial and residential properties in the Twin Cities Metropolitan area, including dozens of design/build tenant improvements.
About Phoenix Development Company: Formed in 1997, Phoenix Development Company has facilitated the adaptive reuse of blighted urban real estate, and has over 30 years of experience of creative resourceful development of housing, commercial and mixed-use properties. The company has been instrumental in the development of over 900 affordable rental units and income-restricted for-sale units.
About Village Green: Village Green is one of the nation’s largest privately held developers and managers of luxury apartment communities with offices in Chicago, Cincinnati, Dallas, Detroit, Minneapolis and St. Louis. Established in 1919, Village Green operates 40,000 apartments over 130 rental communities under five distinct brands: Village Green, City Apartments, Regents Park, Village Park and Leading Furnished Suites. Explore villagegreen.com
About Greiner Construction: Founded in 1989, Greiner Construction was the first Twin Cities construction firm to specialize in high-end interiors. Today, Greiner is known for more than just interiors, they have added a building and construction division, and are quickly building a portfolio of new construction projects using the same high-end standards and attention to detail.