urbanMSP

It does seem to make UP's decision to only include ~30 condos in the Gateway Tower seem pretty dumb.

While I completely agree with you that 30 is a pitiful number, I will say that I would much rather live at the Eleven's location than the Gateway's. Both good, but Mill District area is truly top-notch for livability.

Im wondering if the Four Seasons Hotel chain had anything to do with the limited number of condo units in the Gateway. Perhaps they were looking for a more restrictive and expensive approach to the housing component. Their name appears to be attached to the condos, which is some people's minds would promise a greater degree of service and exclusivity. It strikes me as something like a "gated community" in the sky. United can't be completely oblivious to the obvious pent-up demand for condo units - or maybe they can.

I think we may have discussed this in the Gateway thread, but wasn't the theory that the number of available parking spaces was perhaps driving the number of condos? The footprint of the underground parking and the depth of bedrock puts a hard cap on the number of parking spaces available. They had to promise a certain number to the hotel and retail, and a certain number to the office users, and so that leaves only so many spots left for condos. Given the market demands of super-luxury condos, you provide at least two spaces per condo, and the math tells you how many condos you can build?

And I'd hard disagree that the Mill District is better than this location.

I think you're probably right about the parking being the determining factor at the Gateway. Poking around a little bit, looks like the Four Seasons in Denver and Nashville have 102 and 142 condos respectively, so that's not a dealbreaker. I also agree that I'd rather live in the Gateway over the Mill District (luckily, since I do). Different strokes for different folks, of course.

Im wondering if the Four Seasons Hotel chain had anything to do with the limited number of condo units in the Gateway. Perhaps they were looking for a more restrictive and expensive approach to the housing component. Their name appears to be attached to the condos, which is some people's minds would promise a greater degree of service and exclusivity. It strikes me as something like a "gated community" in the sky. United can't be completely oblivious to the obvious pent-up demand for condo units - or maybe they can.

This. I know people who have worked at the for seasons in Denver. Everyone in the condos gets the same services as the hotel guests. Laundry, in room dinning... etc. AND a lot of these types of residents are high maintenance and eccentric and demanding. Imagine running a hotel and then having more than 30 other crazies that you have to babysit on a regular basis. (Not that they aren't paying for their services)

While I completely agree with you that 30 is a pitiful number, I will say that I would much rather live at the Eleven's location than the Gateway's. Both good, but Mill District area is truly top-notch for livability.

Hm. There's a Trader Joe's now, but the knock on the Mill District for me was always the lack of necessities within an easy walk.

While I completely agree with you that 30 is a pitiful number, I will say that I would much rather live at the Eleven's location than the Gateway's. Both good, but Mill District area is truly top-notch for livability.

Hm. There's a Trader Joe's now, but the knock on the Mill District for me was always the lack of necessities within an easy walk.

I guess I misspoke a bit -- what I meant to say is that there are already very high-end and expensive condos in that area that change hands for big money. I think the wealthy are more drawn to that side of downtown than the CBD core that the Gateway offers. The Gateway is obviously more amenity rich and is truly urban in setting though, I'll grant you that.

Eleven Condo Project Secures Financing
The 41-story tower will be tallest residential building in Minneapolis.

http://tcbmag.com/news/articles/2019/ju ... -financing

The 118-unit Eleven project has taken a major step forward after securing construction financing for the project. Commercial real estate projects are just plans until construction financing is secured.

A statement from Ryan Companies indicated that it is “the largest construction loan ever secured for a condominium project in the state of Minnesota.” But the amount of the loan was not disclosed.

Guess that explains why they haven't actually broken ground yet.

This should move quite quickly now

How tall is this building? The title of the thread says that it’s 48 stories tall, but the post up thread says 41 stories.


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Is this thread counting the 5 levels of above ground parking?

It's considered 48 stories by the zoning code (high ceiling heights, etc), so that was what I listed. Now that they're marketing it as 41, I'll change it.

The height changed from 528 feet to 550 feet. It is 41 occupied floors but with mechanical and the way the city requires floors to be measured they call it 48. The top penthouse is 41.

Have they officially broken ground on Eleven or is it just sitting with a fancy fence and no activity? Any dates for construction yet?

Nothing new here. Rumor is they will break ground in August.

You can go rollerskate on the site of the future tower for now if you want on weekends! lol

Apparently there will not be a second phase. Or at least not another tower as part of a second phase.

Wanninger said that the air rights above the Padilla building have been assigned to the future homeowners. That prevents another developer from tearing down the Padilla building to build another tall tower. “Those magnificent views are protected,” said Wanninger.

From this TCB article.

There was a scathing critique in the Chicago Tribune of Stern’s new tower, One Bennet Park in the Windy City - which is essentially a larger version of what we are getting here. The biggest digs Blair Kamman gave in the review nailed the finishing material on the tower itself (concrete panels much like the ones that appear to be the plan here), the somewhat awkward massing of the tower and the poor imitation of the Art Deco inspirations for the tower, On the plus side the review praised the auto courts of all things, the fake penthouse windows that actually hide the slosh tanks fro wind damping purposes, the detailing around the base (which is clad in stone) and the interiors of the units - which were all designed by Stern’s team). The Chicago tower is essentially a scaled down version of Stern’s newest New York tower - which fared only a little bit better with the critics. Penthouses in the tower run as high as $28,000,000. It is over 850 feet tall. Tall does not necessarily equate with excellent or beautiful - nor does a big name in architecture.

Apparently there will not be a second phase. Or at least not another tower as part of a second phase.

Wanninger said that the air rights above the Padilla building have been assigned to the future homeowners. That prevents another developer from tearing down the Padilla building to build another tall tower. “Those magnificent views are protected,” said Wanninger.

From this TCB article.

Abolish air rights ffs