Residences at 33 S 5th St, 40 floors. 451 feet (cancelled)

Downtown - North Loop - Mill District - Elliot Park - Loring Park
Online
grant1simons2
IDS Center
Posts: 4238
Joined: February 8th, 2014, 11:33 pm
Location: Marcy-Holmes

Re: Residences at 33 S 5th St, 40 floors. 451 feet

Postby grant1simons2 » December 7th, 2017, 8:01 pm

Good ol' Curt Gunsbury move

User avatar
Anondson
IDS Center
Posts: 4192
Joined: July 21st, 2013, 8:57 pm
Location: Where West Minneapolis Once Was

Re: Residences at 33 S 5th St, 40 floors. 451 feet

Postby Anondson » December 7th, 2017, 8:03 pm

IS there an announced explanation?

Bakken2016
Rice Park
Posts: 408
Joined: September 20th, 2017, 12:40 pm
Location: North Loop

Re: Residences at 33 S 5th St, 40 floors. 451 feet

Postby Bakken2016 » December 7th, 2017, 8:23 pm

Dang, I liked this one!

User avatar
Homewood2009
Metrodome
Posts: 57
Joined: October 11th, 2017, 5:52 am

Re: Residences at 33 S 5th St, 40 floors. 451 feet

Postby Homewood2009 » December 7th, 2017, 11:04 pm

Silophant wrote:
December 7th, 2017, 4:48 pm
Welp.
Hopefully it wasn't, too tall!

SurlyLHT
Foshay Tower
Posts: 846
Joined: February 21st, 2017, 3:50 pm

Re: Residences at 33 S 5th St, 40 floors. 451 feet

Postby SurlyLHT » December 8th, 2017, 7:47 am

They've never pulled anything off like this before so it doesn't surprise me. This is quite the leap up from what they've built on the Greenway and North Loop.

Online
MNdible
is great.
Posts: 5735
Joined: June 8th, 2012, 8:14 pm
Location: Minneapolis

Re: Residences at 33 S 5th St, 40 floors. 451 feet

Postby MNdible » December 8th, 2017, 10:25 am

It would have been a very difficult (and as a result, expensive) project to actually construct, given the site and access constraints.

Seth
Metrodome
Posts: 70
Joined: June 11th, 2012, 8:18 am
Location: Brooklyn

Re: Residences at 33 S 5th St, 40 floors. 451 feet (cancelled)

Postby Seth » December 8th, 2017, 1:56 pm

SurlyLHT wrote: They've never pulled anything off like this before so it doesn't surprise me. This is quite the leap up from what they've built on the Greenway and North Loop.


This. Wonder if they simply jumped the gun and then found out they couldn't get financing for something of this magnitude and no experience with larger projects. I wouldn't be surprised if they found an easier lot to do something like Nordhaus in NE. That wouldn't seem like quite as big of a stretch.

SurlyLHT
Foshay Tower
Posts: 846
Joined: February 21st, 2017, 3:50 pm

Re: Residences at 33 S 5th St, 40 floors. 451 feet (cancelled)

Postby SurlyLHT » December 8th, 2017, 2:24 pm

Seth wrote:
December 8th, 2017, 1:56 pm
SurlyLHT wrote: They've never pulled anything off like this before so it doesn't surprise me. This is quite the leap up from what they've built on the Greenway and North Loop.


This. Wonder if they simply jumped the gun and then found out they couldn't get financing for something of this magnitude and no experience with larger projects. I wouldn't be surprised if they found an easier lot to do something like Nordhaus in NE. That wouldn't seem like quite as big of a stretch.
I agree. They might be a lot better off going with the half block parcel Thrivent has opened for residential/hotel beside their new HQ. I like their designs, we just need carry-thru.

Sam07

Re: Residences at 33 S 5th St, 40 floors. 451 feet

Postby Sam07 » December 11th, 2017, 7:18 pm

Silophant wrote:
December 7th, 2017, 6:26 pm
The MS3 curse strikes again.

I don't think I've read one of his posts on here in years. I hated reading his so called-facts about nothing over 400 feet will ever be built in Minneapolis again. Now a few years later everything he said continues becoming reality.

Online
grant1simons2
IDS Center
Posts: 4238
Joined: February 8th, 2014, 11:33 pm
Location: Marcy-Holmes

Re: Residences at 33 S 5th St, 40 floors. 451 feet (cancelled)

Postby grant1simons2 » December 11th, 2017, 8:36 pm

You don't think it has anything to do with the fact that the developer hasn't gone over 90 feet in his career? Or that the building he was trying to build wasn't even in his ownership (there was never a sale). Or that there were no permits for any sort of soil testing? I could keep going, there are a lot of reasons why this building was a long shot. Absolutely zero of them were because of a mythical 400 foot rule. Unless there's some sort of weird cult circle of CPED planner that people who work at CPED (some people here) don't even know about.

It kinda all comes down to economics as it always usually does. Even though I think condos would have sold out within months here, maybe Gunnsbury didn't. It's okay. He also believes our retail corridors like HenCen are failing and therefore can't build there.

Sam07

Re: Residences at 33 S 5th St, 40 floors. 451 feet (cancelled)

Postby Sam07 » December 15th, 2017, 8:25 pm

grant1simons2 wrote:
December 11th, 2017, 8:36 pm
You don't think it has anything to do with the fact that the developer hasn't gone over 90 feet in his career? Or that the building he was trying to build wasn't even in his ownership (there was never a sale). Or that there were no permits for any sort of soil testing? I could keep going, there are a lot of reasons why this building was a long shot. Absolutely zero of them were because of a mythical 400 foot rule. Unless there's some sort of weird cult circle of CPED planner that people who work at CPED (some people here) don't even know about.

It kinda all comes down to economics as it always usually does. Even though I think condos would have sold out within months here, maybe Gunnsbury didn't. It's okay. He also believes our retail corridors like HenCen are failing and therefore can't build there.
It's not just this proposal. Look at all the drama at 200 Central. The gateway project is basically eliminated as well. I think it's more than coincidental that 300ish footers are popping up all over the place yet all the towers with signification height seem to die off mysteriously. Minneapolis is a booming city, there's no doubt if you build it people will come. I also believe the market could easily support two 500+ Condo towers. I'm the last person on this forum to believe there's a 400 foot height restriction that this MS3 characters inside info started. But until something proposed gets built without drama and mysterious circumstances, he may as well be right.

alexschief
US Bank Plaza
Posts: 603
Joined: November 12th, 2015, 11:35 am
Location: Philadelphia

Re: Residences at 33 S 5th St, 40 floors. 451 feet (cancelled)

Postby alexschief » December 16th, 2017, 5:35 pm

I guess it all depends on your frame of reference, but I'd argue that Minneapolis really is not "booming." It's growing steadily, and the population is shifting around geographically, but it's not comparable to a Sun Belt city like Austin or Dallas, a shelter for global capital like New York or Miami, or a city that truly is undergoing a "boom" like Seattle.

Office vacancy is still pretty comfortable downtown, so it's pretty unlikely that we'll see a new office tower. Residential vacancy is low citywide, but it's higher in some downtown submarkets. It also costs a lot to build downtown, so what's getting built is high and it's all at the higher end of the market, but not the "Russian oligarch parking his money" end of the market, which Minneapolis doesn't have. When you build a true skyscraper, and not a 30-story high rise, there are new engineering issues that bump up the price, and it just may not be especially feasible to build much higher..


Return to “Minneapolis - Downtown”

Who is online

Users browsing this forum: No registered users and 4 guests