StoneBridge (2nd Street South & 11th Avenue South)

[seanrichardryan]

An obstruction light? We wouldn't want Arnie Pye in the sky to clip the tower during the morning traffic report.

[Nick]

Sorry the shot from the park is so dark, it was real bright out this morning.

[Jeff]

This place is going to be huge right next to the 1 story ice cream factory. Here are some additional renderings.

https://www.facebook.com/StonebridgeLof ... tos_stream

[Andrew_F]

Aw man, hadn't seen the lobby entrance oriented to the pull around driveway before.

[Nathan]

27 Sold already!!! and 7 on hold. Sounds pretty healthy to me!

[TWA]

27 Sold already!!! and 7 on hold. Sounds pretty healthy to me!

Wow being 1/4 sold as they have barely broken ground seems pretty impressive given the lack of any recent condo developments in the area. Shows that there is still a demand.

I have a feeling that this will remain the only condo project until construction is completed. Other developers are using it as the "canary in the coalmine" and waiting to see how quickly it fills up. If units keep going fast, I wouldn't be surprised if a couple other condo projects pop up in quick succession.

[lordmoke]

It must take quite a bit of confidence to buy a residence that:
A. You have never seen, because
B. It doesn't exist yet.

Regardless, great news.

[Viktor Vaughn]

The spoils seem to go to those who take risks and cut against the herd. Think of the Mill District City Apartments building luxury apartments during the depth of the housing crisis, or Ackerberg building speculative Class A office space in Uptown. I bet Stonebridge will fill up quickly at decent prices for Shamrock. It might even kick off a mini-boom of condo projects that will all come on line at the same time and not do as well.

I suppose the ability to self-finance is a major factor which allows a developer to run ahead of the herd. Banks still dealing with toxic-loans from the last real estate bust are probably not willing to take big risks.

[Tyler]

Any word if there will be any retail on the 1st floor? I'd die for a good coffee shop in the area and this seems like a somewhat logical spot for one. I know the JAS apartment proposal had a coffee/bike shop included a la angry catfish which would be twice as amazing.

[beykite]

Seeing this while crossing the 35W or 94 bridges really gets me excited. It's going to nicely extend the skyline out through the Mill District. I hope they post some pictures of the views the units will have. Should be some great views of both the river and skyline which are more or less guaranteed to remain unobstructed.

[MotorCity2TwinCities]

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[Nick]

They're up to 32 units sold as of yesterday. Wowzers.

[go4guy]

They're up to 32 units sold as of yesterday. Wowzers.

I do not have any experience in sales, but doesn't this seem to be selling extremely fast? I have a freind looking to buy a condo downtown, and she is having a real hard time finding anything at all. Has to be a good sign for future development.

[TWA]

They're up to 32 units sold as of yesterday. Wowzers.

I do not have any experience in sales, but doesn't this seem to be selling extremely fast? I have a freind looking to buy a condo downtown, and she is having a real hard time finding anything at all. Has to be a good sign for future development.

Yeah the idea of a pre-sale scares me. You have no idea if the value of the project will even hold up- if it looks better on paper then in "real life"... plus there can be delays, issues with the developer (think of how many projects dissappeared in the mid 2000's and left the unit owners SOL) just to name a few drawbacks. I would be interested to see who these presale buyers are... but regardless once the building is finished I wouldn't be surprised to see this thing almost totally filled up. I could totally see a big condo project or two start going through the process of getting approval in the next 6 mo

[John]

They're up to 32 units sold as of yesterday. Wowzers.

I do not have any experience in sales, but doesn't this seem to be selling extremely fast? I have a freind looking to buy a condo downtown, and she is having a real hard time finding anything at all. Has to be a good sign for future development.

The market has tightened up. I'm optimistic we'll see several new projects announced this year. But I'm thinking most will be modest in size. Still, I would love one condo high rise along Hennepin or near Nicollet Mall in the core of downtown...maybe someday...sigh.

[Nick]

Doesn't Jim Stanton still own the Eclipse site? Like through the bank that owns it? That lot is screaming to be built on.

[FISHMANPET]

Is the Eclipse site the one across Hennepin from the Library?

[lordmoke]

I don't know if Stanton owns it through the bank, but 21st Century Bank and Dolphin Staffing (the two companies in that funny 50's building just up Washington from the site) own all of the parcels that would have been Eclipse, according to Hennepin County property taxes.

[Nathan]

I don't know if Stanton owns it through the bank, but 21st Century Bank and Dolphin Staffing (the two companies in that funny 50's building just up Washington from the site) own all of the parcels that would have been Eclipse, according to Hennepin County property taxes.

Funny... I always just think, 'if they would paint it not the fleshiest color ever...' Then it would actually look really awesome.

[lorwest]

Status today:

Stonebridge.jpg