Blue Line Flats - (3120 24th Ave S)

Calhoun-Isles, Cedar-Riverside, Longfellow, Nokomis, Phillips, Powderhorn, and Southwest
lordmoke
Wells Fargo Center
Posts: 1377
Joined: June 8th, 2012, 1:39 pm
Location: Nicollet Island

Blue Line Flats - (3120 24th Ave S)

Postby lordmoke » May 23rd, 2014, 11:51 am

Wellington is proposing a 4 story, 141 unit affordable apartment building on this vacant lot adjacent to Hiawatha. It will have unit sizes from 1-3 bedrooms.

More info:
http://corcoranneighborhood.org/public- ... -triangle/

Tcmetro
Wells Fargo Center
Posts: 1353
Joined: May 31st, 2012, 8:02 pm
Location: Chicago (ex-Minneapolitan)

Re: Corcoran Triangle (3120 24th Ave S)

Postby Tcmetro » May 23rd, 2014, 11:55 am

Looks like a good addition to the area.

min-chi-cbus
Capella Tower
Posts: 3131
Joined: June 1st, 2012, 9:19 am

Re: Corcoran Triangle (3120 24th Ave S)

Postby min-chi-cbus » May 23rd, 2014, 12:12 pm

Ooooo, affordable pricing -- how fantastic! Although even at 60% of the median income, I have a hard time understanding how such a family could afford $1,150/month rent. I struggle with that at slightly above the median family income!

User avatar
woofner
Wells Fargo Center
Posts: 1327
Joined: June 1st, 2012, 10:04 am

Re: Corcoran Triangle (3120 24th Ave S)

Postby woofner » May 24th, 2014, 10:32 am

Duh so the houses on 32nd are still there and will remain right? I'm just confused by the blocky shapes in their place on the site plan.
"Who rescued whom!"

HiawathaGuy
Wells Fargo Center
Posts: 1568
Joined: June 4th, 2012, 12:03 pm

Re: Corcoran Triangle (3120 24th Ave S)

Postby HiawathaGuy » November 5th, 2014, 4:39 pm

This project received County grants. They are securing financing and hope to break ground in fall of 2015 (which I thought seemed like a long ways off)...

Info Tucked In Here

"St. Paul-based Wellington Management will also receive a $200,000 TOD grant from the county for a 135-unit workforce housing project on the Blue Line called the Corcoran Triangle.

The development company plans a four-story, strictly residential building on Hiawatha Avenue between 31st and 32nd Streets, according to David Bergstrom, chief operating officer for Wellington. The project site is a vacant remnant block left over from when the light rail was constructed.

The county grant will fund amenities to build a better bicycle and pedestrian connection from the building to the light rail stop at Lake Street."

seanrichardryan
Capella Tower
Posts: 3939
Joined: June 3rd, 2012, 9:33 pm
Location: Merriam Park, St. Paul
Contact:

Re: Corcoran Triangle (3120 24th Ave S)

Postby seanrichardryan » November 5th, 2014, 4:46 pm

Q. What, what? A. In da butt.

twincitizen
Moderator
Posts: 6204
Joined: May 31st, 2012, 7:27 pm
Location: Standish-Ericsson

Re: Corcoran Triangle (3120 24th Ave S)

Postby twincitizen » November 6th, 2014, 9:09 am

woofner wrote:Duh so the houses on 32nd are still there and will remain right? I'm just confused by the blocky shapes in their place on the site plan.
Yeah, what the heck? Those two property lines are clearly shown on the site plan. If they were included in the project, they probably wouldn't bother drawing in those property lines. It seems the county might even own the SFH property that borders the alley. The other one that faces 32nd is privately owned (last sale 1997). Why would the County not buy that single property to complete this block?

I suppose you could build a few shallow-depth row houses along 32nd, but they would have to use the existing surface parking here and not have their own tuckunder/rear garages. In order for them to have garages of any kind, you'd have to remove that row of surface parking facing 32nd (14 spaces).

martykoessel
Nicollet Mall
Posts: 197
Joined: June 1st, 2012, 9:12 am

Re: Corcoran Triangle (3120 24th Ave S)

Postby martykoessel » November 7th, 2014, 2:11 am

Hurrah for this project! Housing at this price level is always so sorely needed, and especially with such great access to transportation it's essential to the health of the city.

seanrichardryan
Capella Tower
Posts: 3939
Joined: June 3rd, 2012, 9:33 pm
Location: Merriam Park, St. Paul
Contact:

Re: Corcoran Triangle (3120 24th Ave S)

Postby seanrichardryan » November 7th, 2014, 7:16 am

Why isn't this six stories?
Q. What, what? A. In da butt.

User avatar
Nathan
IDS Center
Posts: 4001
Joined: June 1st, 2012, 10:42 am

Re: Corcoran Triangle (3120 24th Ave S)

Postby Nathan » November 7th, 2014, 4:50 pm

seanrichardryan wrote:Why isn't this six stories?
Because that would require more parking?

User avatar
sdho
US Bank Plaza
Posts: 752
Joined: August 17th, 2013, 12:54 pm
Location: The Urban Hometown®
Contact:

Re: Corcoran Triangle (3120 24th Ave S)

Postby sdho » November 8th, 2014, 12:48 am

Surprised there's no criticism at all of this development being 100% subsidized housing, as opposed to 70-30 or similar market rate / subsidized.

This area immediately borders the Racially Concentrated Area of Poverty that consumes the Phillips, Cedar-Riverside, and Whittier neighborhoods, plus portions of other neighborhoods, including Corcoran.

I don't object to the form here, but I'd like to see at least 50% market rate in there too.

nickmgray
Union Depot
Posts: 331
Joined: July 3rd, 2012, 10:40 am

Re: Corcoran Triangle (3120 24th Ave S)

Postby nickmgray » November 12th, 2014, 3:41 pm

I'd like ot know how market rate is actually calculated. It is based on the neighborhood or entire city?

twincitizen
Moderator
Posts: 6204
Joined: May 31st, 2012, 7:27 pm
Location: Standish-Ericsson

Re: Corcoran Triangle (3120 24th Ave S)

Postby twincitizen » November 12th, 2014, 4:44 pm

"Market Rate", in the context most of us think of it and are using here, just means "not subsidized"/"not Section 42". Not any particular price-point, just whatever the developer must charge based on the cost of land & construction and expected profit. "Market rate" can differ between city neighborhoods and city/suburbs.

The price point for "Affordable" Section 42 units, however, is calculated based on how much a person/family making either 50% or 60% of the Area Median Income (AMI) could afford to spend on rent. If tab is reading this thread, I think he could probably explain it in further detail.

tab
Metrodome
Posts: 96
Joined: May 9th, 2013, 12:28 pm

Re: Corcoran Triangle (3120 24th Ave S)

Postby tab » November 12th, 2014, 10:23 pm

That's correct. 'Market Rate' is also sometimes used to describe the typical market rate for existing apartments in the area. This kind of market rate is generally more affordable than new 'market rate' apartments, because apartments built 20+ years ago can cash flow with lower rents.

User avatar
FISHMANPET
IDS Center
Posts: 4602
Joined: June 6th, 2012, 2:19 pm
Location: Corcoran

Re: Corcoran Triangle (3120 24th Ave S)

Postby FISHMANPET » March 3rd, 2015, 2:13 pm

Was watching the Community Development & Regulatory Services meeting today, looks like they're seeking some TIF financing for this. There was an agenda item to allow the city to continue examining TIF or to stop examining it, and based on Frey's comment $1.5 million is the limit.

Here's the documents:
http://www.minneapolismn.gov/www/groups ... 137938.pdf
http://www.minneapolismn.gov/www/groups ... 137939.pdf
http://www.minneapolismn.gov/www/groups ... 137940.pdf

lordmoke
Wells Fargo Center
Posts: 1377
Joined: June 8th, 2012, 1:39 pm
Location: Nicollet Island

Re: Corcoran Triangle (3120 24th Ave S)

Postby lordmoke » July 21st, 2015, 8:36 am


fehler
Rice Park
Posts: 444
Joined: July 30th, 2012, 8:33 am

Re: Corcoran Triangle (3120 24th Ave S)

Postby fehler » September 8th, 2015, 10:22 am

Fence going up today, trailers on site.

HiawathaGuy
Wells Fargo Center
Posts: 1568
Joined: June 4th, 2012, 12:03 pm

Re: Corcoran Triangle (3120 24th Ave S)

Postby HiawathaGuy » September 8th, 2015, 1:09 pm

I'm really excited about his project, and the adjacent one on Lake Street. It's really going to transform this scrubby lot.

kiliff75
Nicollet Mall
Posts: 180
Joined: February 3rd, 2013, 10:14 pm
Location: Northbound Brewpub - Standish

Re: Corcoran Triangle (3120 24th Ave S)

Postby kiliff75 » February 21st, 2016, 11:26 pm

Foundation looks done,working on first floor of wood framing now...

aeisenberg
Union Depot
Posts: 314
Joined: June 12th, 2012, 7:45 pm

Re: Corcoran Triangle (3120 24th Ave S)

Postby aeisenberg » May 17th, 2016, 6:39 pm

Image

Looking north
Image

Image
Aaron Eisenberg / Realtor, Keller Williams Integrity
612.568.5828 / aaron@agentaaron.com / 1350 Lagoon Ave #900
http://www.agentaaron.com


Return to “Minneapolis - South, Southwest, and Uptown”

Who is online

Users browsing this forum: No registered users and 9 guests