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City Place Lofts - (730 Hennepin Avenue)

Posted: July 7th, 2012, 9:59 am
by dmdhashw
Link to project

From the developer's website:

Everwood Development is working with the current tenant, International Education Center, to restore and remodel the historic Lincoln Bank building in downtown Minneapolis. The renovation is under close review by the State Historic Preservation office.

Built in the 1920s, the building features a cream-colored terra cotta and enameled brick exterior. Inside, marble floors and marble-lined hallways grace the lobby and ground floor.

In addition to remodeled classrooms and amenities for the International Education Center, 55 units of affordable housing are planned for the currently unused upper floors.

Re: City Place Lofts - 730 Hennepin Avenue

Posted: July 7th, 2012, 11:04 am
by 612transplant
Thanks!

This is a good project....and presumably has a good chance of moving forward if the preservationists are on board? Or, is it already in progress?

I think Lileks has a write-up on this building on his website....I'll see if I can find it...

Re: City Place Lofts - 730 Hennepin Avenue

Posted: July 8th, 2012, 12:44 am
by Lancestar2
WOW! That looks like a very nice spot! very close to the new Lund's store and right next to all the activity on Hennepin. I wonder if they will have a shared stairs with the school? Also I hope they can add a bit of green space for the residents maybe a roof top garden? What about taking out the Street parking next to Hennepin and adding a green garden with locked gate to keep the drunks out :) sure would look better I'd say!

Re: City Place Lofts - 730 Hennepin Avenue

Posted: July 9th, 2012, 1:06 am
by writruth
Just me, or is it odd the sample apartment floor plan included in the link contains only one closet - not one bedroom closet but one closet for the entire apartment? There is not even a small coat closet near the entry way door. This seems incredibly short-sighted in it's design and quite impractical.

Re: City Place Lofts - 730 Hennepin Avenue

Posted: July 9th, 2012, 8:46 am
by Tyler
Hmm... If you look at the fourth floor floorplans you'll actually see different plan in that location -- with a coat closet. All of the 1 bedroom units have one.

Love this project. Happy to see IEC stay as well.

Re: City Place Lofts - 730 Hennepin Avenue

Posted: July 9th, 2012, 10:33 am
by nickmgray
I love the idea of having apartments in this building. Getting more residents to live right thin the core of the city is key to keeping the city alive and thriving. Does anyone know how much they plan to change for these apartments?

Re: City Place Lofts - 730 Hennepin Avenue

Posted: July 9th, 2012, 10:36 am
by Konante
I would love to see this project take place. It's a beautiful building in need of a rehab, and as mentioned above, in-core apartments are crucial. Keeping my fingers crossed for this one.

Re: City Place Lofts - 730 Hennepin Avenue

Posted: July 9th, 2012, 4:55 pm
by woofner
This project is getting some city affordable housing financing so "Twenty-seven (60%) of the 45 units will be affordable to individuals and families earning at or below 50% of Area Median Income (AMI) and the remaining 18 units (40%) will be affordable to individuals and families earning at or below 60% of AMI."

http://www.minneapolismn.gov/www/groups ... 270583.pdf

This was from last summer - I don't know if they upped the total number of units or if that's a typo on Kaas Wilson's site. Everything I remembering seeing about this project said 45 units but I haven't heard anything for quite a while. Also I haven't noticed any work being done and I pass by pretty regularly - not that I look for it exactly either.

Oh yeah and to translate the bureaucratese, 50% of AMI is $29,400 for a single person and $33,600 for two. Assuming "affordable" means 30% of your income that would be $735 a month for 1 person. I think they might be able to call 40% of your income affordable, though, in which case it would be $980. Which isn't really affordable for someone making under $30k, unless you eat nothing but crackers and peanut butter.

Re: City Place Lofts - 730 Hennepin Avenue

Posted: July 27th, 2012, 10:43 am
by spearson
Reading over city council agendas lately, the Heritage Preservation Committee will be discussing this building (on Aug. 7th) and it's nomination to the nation register of historic places.

Re: City Place Lofts - 730 Hennepin Avenue

Posted: July 27th, 2012, 1:53 pm
by Wedgeguy
spearson wrote:Reading over city council agendas lately, the Heritage Preservation Committee will be discussing this building (on Aug. 7th) and it's nomination to the nation register of historic places.
Sounds like they are hoping to pull some federal and state historic tax credits for this building.

Re: City Place Lofts - 730 Hennepin Avenue

Posted: July 27th, 2012, 6:35 pm
by John
redisciple wrote:This project is getting some city affordable housing financing so "Twenty-seven (60%) of the 45 units will be affordable to individuals and families earning at or below 50% of Area Median Income (AMI) and the remaining 18 units (40%) will be affordable to individuals and families earning at or below 60% of AMI."

http://www.minneapolismn.gov/www/groups ... 270583.pdf

This was from last summer - I don't know if they upped the total number of units or if that's a typo on Kaas Wilson's site. Everything I remembering seeing about this project said 45 units but I haven't heard anything for quite a while. Also I haven't noticed any work being done and I pass by pretty regularly - not that I look for it exactly either.

Oh yeah and to translate the bureaucratese, 50% of AMI is $29,400 for a single person and $33,600 for two. Assuming "affordable" means 30% of your income that would be $735 a month for 1 person. I think they might be able to call 40% of your income affordable, though, in which case it would be $980. Which isn't really affordable for someone making under $30k, unless you eat nothing but crackers and peanut butter.
My thinking is it will be similar in rents to Minn's 520 2nd St. SE with one bedrooms in the $800-$900 range. Hardly low income, but it does allow middle class people making $30,000-50,000 to live there. They seem to be gearing more rentals to people with those incomes. I think the current very high end apartment projects being built or planned are about all the market can tolerate.

Re: City Place Lofts - (730 Hennepin Avenue)

Posted: October 11th, 2012, 2:06 pm
by Konante
This project is moving forward, but now without the International Education Center (which is going to need to relocate): http://journalmpls.wordpress.com/2012/1 ... in-avenue/

I don't know much about the IEC but hopefully whatever takes the ground-floor space in this building draws more people on a daily/nightly basis than the IEC.

Re: City Place Lofts - (730 Hennepin Avenue)

Posted: November 30th, 2012, 9:34 am
by spearson

Re: City Place Lofts - (730 Hennepin Avenue)

Posted: November 30th, 2012, 9:56 am
by min-chi-cbus
I get this one, the Handicraft Guild and The Venue mixed up because they're all in/near the core of downtown and they're all 9-10 floors. But this one is the 100% refurbish, unlike the other two, which I believe are new construction.

Re: City Place Lofts - (730 Hennepin Avenue)

Posted: November 30th, 2012, 10:58 am
by twincitizen
There's a lot to like about this project. I wish something would fill in the vacant lot next door. I also wish Metro Transit didn't have such a massive double-shelter here. I'm not complaining about having a lighted, heated shelter here, but it is grossly oversized (way bigger than anything on Nicollet Mall) for not being a hub/station and in poor repair. On the plus side, the massive transit facility does screen the ugly parking lot from the street, almost giving the illusion of a continued building facade.


1. Is this still being pitched as "affordable"?

2. For some reason I'm skeptical "The Venue" will happen.

Re: City Place Lofts - (730 Hennepin Avenue)

Posted: November 30th, 2012, 11:41 am
by John
^^^ I really like this project too. It's very exciting to see residential development in the heart of downtown. I agree about the adjacent surface parking lot needing infill. And there are still about 10 or so surface parking lots along Hennepin Ave between the 222 development and Lunds at 12th Street. The next step in rejuvenating this area would be to fill these vacant parcels. It won't happen overnight, but I'm optimistic we'll see some progress in getting at least some of those gaps filled in the next ten years.

Re: City Place Lofts - (730 Hennepin Avenue)

Posted: November 30th, 2012, 11:46 am
by woofner
There are quite a few boardings at that stop - not sure if that is from local uses or connections from southbound buses from the Northside. I'd say the problem is that the Nicollet shelters are undersized, not that this one is oversized. Another I'd like to see expanded is the nb shelter at 5th.

1. Yes, it was just before the community development committee:

http://www.minneapolismn.gov/meetings/cdc/WCMS1P-094510

"All 55 units will be affordable to individuals and families earning at or below 60% of the area median income (AMI)."

2. Me too.

Re: City Place Lofts - (730 Hennepin Avenue)

Posted: April 25th, 2013, 12:26 pm
by spearson
Looks like they may be starting. From my vantage point in the Pence building, they look to be gutting the second floor. Lots of people in hardhats walking around.

Re: City Place Lofts - (730 Hennepin Avenue)

Posted: April 25th, 2013, 3:21 pm
by theroose
I noticed that as well. I have class on the second floor of the Pence building directly across from where you are talking about. Looks like a bunch of duct work and insulation piled up in there. Two dumpsters were outside in the street last night as well so I think you may be correct in saying that things may be starting.

Re: City Place Lofts - (730 Hennepin Avenue)

Posted: July 1st, 2013, 9:29 am
by Elsinore
They just started trying to rent these within the last week for an October opening. For downtown, they're actually exceptionally large apartments. How is $930/mo.(650-956(!)sq ft) for someone making less than $34,000 a year "affordable", though?

I guess I need to cut back my hours or ask for a demotion to be able to live downtown. :roll: