Alatus Project - Rochester

matthew5080
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Alatus Project - Rochester

Postby matthew5080 » October 7th, 2016, 10:46 am

Nothing new to report for the project, I just thought it would be easier for everyone to follow this development if it had a thread separate from the Rochester one.

Here are the current plans...

Building height: 168' (13 floors)

Commercial SF: 21,242
Amenity/Lobby SF: 25,970
Residential SF: 368,223
Total SF: 415,435
Residential Units: 343

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http://www.rochestermn.gov/home/showdocument?id=11344

What the site currently looks like...
https://www.google.com/maps/@44.0216354 ... 6656?hl=en

https://www.google.com/maps/@44.021629, ... 6656?hl=en

matthew5080
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Re: Alatus Project - Rochester

Postby matthew5080 » November 26th, 2016, 1:08 pm

Possible TIF planning for the project...
There's no formal TIF request yet, but I'm told that Alatus LLC, the Twin Cities-based developer of the roughly $110 million luxury apartment project, has asked for about $10.5 million. Alatus wanted more like $12 million, the city was inclined more toward $9 million, and I'm told they ended up at that number.
The PB "Answer Man" believes the project will go through the Planning and Zoning Commission review this Wednesday with no problems.

http://www.postbulletin.com/news/answer ... 64a7f.html

matthew5080
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Re: Alatus Project - Rochester

Postby matthew5080 » November 30th, 2016, 10:08 pm

Passed Planning and Zoning! Now it's off to the City Council for the final approval.

Minneboy
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Re: Alatus Project - Rochester

Postby Minneboy » December 1st, 2016, 5:52 am

Awesome news.

bubzki2
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Re: Alatus Project - Rochester

Postby bubzki2 » December 1st, 2016, 8:10 am

Great news! Now, we just need to get more public attention regarding the awful bike/ped workings of the MM project nearby. Let's take two steps forward, Rochester.

matthew5080
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Re: Alatus Project - Rochester

Postby matthew5080 » December 1st, 2016, 11:39 am

So the person I talked to about it said it passed, however they didn't directly state recommendation of approval as they did with Miracle Mile and the Riverwalk Downtown City Apartments... the finding is stated as follows...
The project proceeds on to the City Council based on findings and with conditions as outlined in the staff report.

go4guy
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Re: Alatus Project - Rochester

Postby go4guy » December 1st, 2016, 11:43 am

I was at the meeting, the recommendation of approval passed 6-0. Other times they have not made a decision on a project and just sent it to City Council without any recommendation, but this one definitely has recommendation of approval from the Z&P Commission.

matthew5080
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Re: Alatus Project - Rochester

Postby matthew5080 » December 1st, 2016, 11:47 am

Wow, good to know. Thank you for clearing that up! I find it interesting how their staff recommendation language varies so much depending on the project, which makes it hard to decipher if a project actually got the recommendation of approval or not.

Do you know if many people turned up from the Folwell Neighborhood Association?

matthew5080
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Re: Alatus Project - Rochester

Postby matthew5080 » December 1st, 2016, 2:16 pm

Some information from the PostBulletin.
One new aspect of the plan revealed Wednesday was a request by the developer to build it under a staged, two-phase development schedule. The schedule would allow the developer to demolish some parts of the site while working on other features.

The staged schedule would also allow a business currently operating in one of the existing hotels on the site to move to a temporary location, a vacant single-family home on 14th Avenue Southwest. The tenant, a massage parlor, could later transition into the commercial space in the Alatus project, said Chris Osmundson, a development director with Alatus, who spoke to media after the meeting.

The project goes before the Destination Medical Center Corp. board of directors December 15th and the City Council on the 19th.

http://www.postbulletin.com/news/local/ ... 30a21.html

go4guy
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Re: Alatus Project - Rochester

Postby go4guy » December 1st, 2016, 6:15 pm

matthew5080 wrote:Wow, good to know. Thank you for clearing that up! I find it interesting how their staff recommendation language varies so much depending on the project, which makes it hard to decipher if a project actually got the recommendation of approval or not.

Do you know if many people turned up from the Folwell Neighborhood Association?
It was actually a weird discussion between the board and the city rep. They weren't sure what they were suppose to vote on. Approval or Denial, or something else. The city rep said they couldn't approve the project, but they were voting on whether to recommend approval to the city council. At that point, a motion was made to recommend approval of the project, but not after Commissioner Meeks made some effort to remove verbiage regarding fire department requirements. Every meeting i have been to, she seems to just talk for the sake of talking, and never makes sense. She even suggested the developer include a crosswalk at mid street to St Mary's. City staff had to remind her about 5 times that the development does not include the street, and the city is in charge of that. Sorry to ramble.

There were a few rows of people who I assume where from Falwell, as they all left after the approval. Wasn't a public meeting, so no opportunity for them to argue a high density development on one of the busiest streets in town surrounded by a huge hospital and many good size hotels.

matthew5080
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Re: Alatus Project - Rochester

Postby matthew5080 » December 15th, 2016, 5:19 pm

Some good, but not unexpected news, for the Alatus project today! The project has won approval from the DMC Board.
Board members adopted a resolution recommending the development move forward as a public infrastructure project, allowing it to quality for $10.5 million in DMC tax increment financing (TIF). The financing request still needs final approval from the Rochester City Council.
http://www.themedcitybeat.com/news-blog ... corp-board

matthew5080
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Re: Alatus Project - Rochester

Postby matthew5080 » December 19th, 2016, 11:33 pm

The final development plan passed the city council vote 7-0 tonight and the $10.5 million requested in TIF was approved!

bubzki2
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Re: Alatus Project - Rochester

Postby bubzki2 » December 20th, 2016, 8:57 am

Thanks for the updates, as always. Exciting stuff.

matthew5080
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Re: Alatus Project - Rochester

Postby matthew5080 » December 20th, 2016, 11:37 am

No problem! Happy to see this project is moving forward and in a timely manner :D
Construction is to start no later than the spring of 2017 and be finished by Dec. 31, 2018, per the terms of the development agreement approved by the city.

go4guy
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Re: Alatus Project - Rochester

Postby go4guy » December 20th, 2016, 6:07 pm

So if I remember correctly, Alatus is giving up 17 feet of right of way to the Public Works department. Is this to allow a right turn lane here? And potentially widen the sidewalk? Would be great if so, as this is a choke point on 2nd

matthew5080
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Re: Alatus Project - Rochester

Postby matthew5080 » February 8th, 2017, 4:46 pm

Alatus LLC’s proposed 13-story mixed-use tower on the 1400 block of Second Street Southwest in Rochester received approval on Wednesday, the last required sign-off it needs before Alatus applies for building permits.
The board used its first meeting of 2017 to give a 13-story apartment building proposed by Minneapolis developer Alatus LLC its final official approval
http://finance-commerce.com/2017/02/ala ... rochester/

go4guy
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Re: Alatus Project - Rochester

Postby go4guy » March 4th, 2017, 1:40 pm

Soil boring test equipment on site. Anyone know when this is scheduled to start?

matthew5080
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Re: Alatus Project - Rochester

Postby matthew5080 » March 21st, 2017, 10:06 am

Alatus, having won approval to build a 347-unit apartment building and retail project in Rochester, Minn., has begun pulling together the parcels needed to move ahead on the $115 million complex.

Finance & Commerce reports on the first deal: A purchase of a single-family home for $421,813. The home was valued at $163,800 by Olmsted County assessors.
http://www.bizjournals.com/twincities/n ... oject.html

matthew5080
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Re: Alatus Project - Rochester

Postby matthew5080 » July 5th, 2017, 5:31 pm

Demolition of existing structures on the site is expected to begin in late August or early September, with construction to start in October.

http://www.postbulletin.com/news/heard_ ... 96ba0.html

matthew5080
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Re: Alatus Project - Rochester

Postby matthew5080 » August 15th, 2017, 5:55 pm

Alatus has purchased the Brentwood and Ray-Mar hotel/motels. This past Friday saw the start of prepping for demo, with removal of toxic materials starting today. Happy to see this one getting started!
The goal is to have the buildings demolished and the site prepped for construction by mid-October.
http://www.postbulletin.com/news/local/ ... 97f7a.html


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