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Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: October 9th, 2017, 3:08 pm
by HiawathaGuy
Large North Loop project gets some new developers
https://www.bizjournals.com/twincities/ ... opers.html
*LOCKED*

Synopsis:
The North Loop block has been divided in half, with a group of urban developers taking over part of the project that was originally led by Howard Bergerud.

Bergerud is still developing half of the project. His portion turns a surface parking lot into a six-story, 156-unit apartment building with 22,700 square feet of ground-floor commercial space.

He sold the rest of the site to John Gross, David Wilson and Andrew Commers for $4.7 million. That group, under the name Commutator LLC, will rehab the former Commutator Foundry Co. building and the building that previously housed Roe Wolf. A new, five-story office building would go up in between the two old structures. That part of the project will have 20,000 square feet of retail space and 60,000 square feet of "progressive, boutique office space," Wilson said.

Bergerud said he anticipated a January groundbreaking and a 14- to 16-month construction schedule.

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: October 9th, 2017, 4:08 pm
by grant1simons2
So there's 42,700 sq ft of retail opening up in North Loop? :o

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: October 10th, 2017, 7:00 am
by 5th Ave Guy
Is the apartment building the same version along 2nd street?

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: October 10th, 2017, 7:54 am
by HiawathaGuy
5th Ave Guy wrote:
October 10th, 2017, 7:00 am
Is the apartment building the same version along 2nd street?
Yes, the article states that nothing with the designs has changed. Just ownership.

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: October 10th, 2017, 9:16 am
by dajazz
Part of the retail with the apartment will be the West Elm store/showroom. Hearing rumblings that the West Elm Hotel won't start work til spring 2018.

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: October 10th, 2017, 9:31 am
by grant1simons2
They haven't even gone to the city to get approvals yet so that doesn't surprise me too much. They're the Azine Alley redevelopment that just go some DEED monies.

Also what the heck it just hit me we're getting a WEST ELM in NORTH LOOP. National brand not looking for a space outside of the downtown area. This is very good.

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: October 10th, 2017, 10:25 am
by David Greene
They're already in Edina...

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: October 10th, 2017, 10:34 am
by grant1simons2
That was my whole point. Everytime a national brand comes in they look at Edina, St. Louis Park Uptown, etc. It's been years since someone who already has a presence in our burbs has chosen to go downtown. Someone who isn't an outlet.

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: October 10th, 2017, 10:46 am
by amiller92
Sports Authority, but that didn't work out so well. Walgreens but drugs stores go everywhere. Target but it's Target. Whole Foods and L&B, but groceries also go everywhere.

Yeah, West Elm to North Loop is pretty cool. The area kind of seems ripe for some Patagonia and the like too.

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: October 10th, 2017, 3:15 pm
by alexschief
This development is tremendously exciting. The quality of the vision matches the importance of the location.

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: November 14th, 2017, 7:31 am
by Nathan
They have put up construction fence around about a quarter of the block! I hope that means this is in the way!

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: November 14th, 2017, 9:38 am
by David Greene
This may be my favorite upcoming development in the whole metro!

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: November 14th, 2017, 1:43 pm
by dajazz
The mixed use development on the surface lot cleared the HPC last week:

http://www.minneapolismn.gov/www/groups ... 205959.pdf

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: November 14th, 2017, 2:08 pm
by Seth
That courtyard looks lovely. Reminds me a bit of what the initial intent was for Nicollet mall before it went all concrete.

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: November 29th, 2017, 8:38 am
by Elsinore99
Dump trucks were lined up along 2nd Ave N and waiting to be filled with parking lot, which was being dug up when I left home at 7:45am. So...yay.

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: November 29th, 2017, 11:10 am
by MNdible
Sweet. Very hopeful this project (and it's related bits) comes together as nicely as the plans suggest.

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: November 29th, 2017, 6:47 pm
by bapster2006
Here is the planning commission packet for the residential portion:

http://www.minneapolismn.gov/www/groups ... 206883.pdf

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: November 29th, 2017, 11:25 pm
by rhettcarlson
Really like the design here. It's clean and refined with a high percentage of brick. Minimal cheap metal paneling and a lack of the six-material, broken up, gaudy multicolored facade we see everywhere else in the city is a win. Very premium looking product.

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: December 5th, 2017, 12:13 pm
by grant1simons2
http://www.ci.minneapolis.mn.us/www/gro ... 207039.pdf

Somewhat of an update on this. The documents really make me realize that they're basically building a mini mall on this block. I mean there's over 15 retail spaces with the apartments and this project? Hopefully going to spur something on Washington.

Re: Foundry Mixed-Use Development - 115-125 1st St N, 128 2nd St N, 128 1st Av N

Posted: December 5th, 2017, 1:13 pm
by dajazz
Hopefully they're able to fill all the retail openings. I'm still waiting for the Maverick to lease their open spot next to Whole Foods.

On a related note the apartment/mixed-use portion cleared the Planning Commission last night.