4Marq - 400 Marquette Ave (313' - 30 Stories)

[kregger22]

^^^^How long?? 4Marq was approved in November and it's now almost April.

[sushisimo]

Wasn't 4Marq waiting until the last chunk of Nic and 5th (the parking portion adjacent to their property) was done with construction?

[John]

Wasn't 4Marq waiting until the last chunk of Nic and 5th (the parking portion adjacent to their property) was done with construction?

That's probably the case. I would think there would be safety issues as the cranes would be too close together. The crane should be coming down soon for Nic's podium as its nearly completed. They also need to complete the exterior façade facing Marq4. Once that happens construction should start. My guess is possibly in late April.

[spearson]

Also, this March 5th article, which is paywalled has some more information: http://finance-commerce.com/2014/03/apa ... nneapolis/

Mortenson Development is expected to begin construction soon on the 262-unit 4Marq apartment tower

and Google provides this brief quote of the same article:

Mortenson had been planning to start construction on its 30-story 4Marq apartment tower in Minneapolis in the spring, but it will now break ...

[sushisimo]

This one being pushed back is leaving a SkidMarq.

[HiawathaGuy]

and Google provides this brief quote of the same article:

Mortenson had been planning to start construction on its 30-story 4Marq apartment tower in Minneapolis in the spring, but it will now break ...

Here's that full quote...
"Mortenson had been planning to start construction on its 30-story 4Marq apartment tower in Minneapolis in the spring, but it will now break ground in December."

So rather than this was a story about it being delayed, it was actually about the groundbreaking being moved up. Just wanted to clear that speculation up. However, that doesn't help us understand why it didn't, or what's going on with it. But I'm not worried. Patience is tough, but these things always seem to work that way.

[min-chi-cbus]

Are we sure they didn't mean December 2014?? Seems kind of specific considering the original time frame was "spring", but I'm just throwing that out there...

[spearson]

Well being the article was dated March 5th 2014, it's a good guess.

[MotorCity2TwinCities]

That is incorrect. The article that states that ground breaking would occur in December is below and was published 11/22/2013 following Mortenson's purchasing of the land. The March '14 article addresses the doubling of the apartment vacancy rate downtown and only states that construction is expected to occur "soon."

http://finance-commerce.com/2013/11/mor ... ber-start/

[Wedgeguy]

The only reason I see them moving the start date that far back would be concern of issues with the tear down of the parking ramp for the Exel building. Maybe they will get some money from Opus so that they have access for trucks to remove debris, the wrecking balls to be able to swing away without worry of another project. Those are just a few options that come to mind!

That would allow them some money towards their own project. Also it allows for time for other project to fill up.

[Nick]

You can't see it in the photo, but there was a crow (?) eating barf in a snowbank here

[FISHMANPET]

I hope we're preserving that historic hut along Marquette in the last picture.

[John]

You can't see it in the photo, but there was a crow (?) eating barf in a snowbank here

I think most mother birds regurgitate food to their chicks beak to beak in the nest to feed them. So barf is a very delicious meal from their perspective

[MotorCity2TwinCities]

Mortenson trucks were on site today.

[minnyapple]

^ Thats good news! Was/am getting a little worried about the delay on this one.

[Minnekid]

I feel like this may be the last large downtown apartment building for a year or two that gets the ok to build or is even proposed. Unless nic on fifth and soo line fill up, which they haven't yet, there will be a slow down. However, I think there will be an increase in condo projects.

[Wedgeguy]

I'll have to very much agree with you there. Apartment are now getting too over done. Time for a few for sale condo's for those that tried the downtown living and want a better space that they can put some equity into. There will not be the condo boom of old unless sales go crazy, but I really doubt that will be the case.

[min-chi-cbus]

I'm not sure I agree that overall apartments are overdone, but rather, just the luxury sub-market. People looking for affordable/market-rate rent still represent a sizable proportion of the overall demand -- if developers are able to design and build market-rate apartments.

[Nathan]

I feel like not all of the people in the existing 'luxury' highrise apartments have moved into comparable new units yet either. I think that stock has yet to become the new market rate avg stock. It's no doubt that in the future developers will have to compete for the renters not with just amenities, but hopefully great design and location.

[Nick]

Talked to someone from Urbanworks last night, sounds like this will start any day now, but who knows.