Metro Park East - (2701 4th Street Southeast)

[Unity77]

Status:
* Proposed
* 215 units
* One level of underground parking and 4000 square feet of common space
* Developer - Fountain Residential Partners

Website: http://www.metroparkeast.com/

[Tcmetro]

Some more info:

1. The Station on 4th – 2635 4th St E (Discussion)

A planned unit development consisting of two 6-story residential buildings with a total of 204 dwelling units.

http://www.minneapolismn.gov/meetings/p ... S1P-097599

[Silophant]

So this would be behind University Village? I like that idea, it'll help renew a sketchy couple of blocks.

[Nathan]

So this would be behind University Village? I like that idea, it'll help renew a sketchy couple of blocks.

Totally, especially if the prospect park station gets built down the road too!

[FISHMANPET]

Anyone know what's directly West of this building on Fourth street? What shows up in satellite view isn't in streetview, so it's pretty new. Is it University owned or something else?

I suppose I could answer my own question since I work in the MAST lab right next door.

[mulad]

A Facilities Management building, I think.

[FISHMANPET]

Yep, if I'd turn my brain on for a second I would have found this before I asked:
http://www1.umn.edu/twincities/maps/LCF/

It'll be nice to get some infill in this area, the Bruce printing across 4th street looks to be shutdown (found an auction for all their equipment from May) and otherwise lots of hopefully underutilized parking lots.

[woofner]

More details, including change in unit count:

Station on 4th, The, f/k/a/ Fountain Residential (2635 4th St. SE)
Projected DEED Request: $307,500
Projected Metropolitan Council TBRA Request: $312,000
Projected Hennepin County ERF Request: $152,360
Fountain Residential Partners LLC intends to demolish an existing structure and construct two new market rate student housing buildings of five stories each, containing a total of 204 apartments, on this 1.64 acre site. The projected total development cost is $40,200,000. Grant funds were being sought primarily for soil remediation. One key policy concern in this case is the need to dedicate right-of-way for the extension of 27th Avenue SE through the site as well as design the building to accommodate a grade differential. At present, the developer seems willing to work within these constraints, and the City’s acceptance of any awarded brownfield grant funds would be contingent upon the developer’s acceptance of these requirements. However, this project is still relatively less ready than most of the other projects in this round with respect to neighborhood engagement/approval, finalization of necessary land use approvals, and documentation of other criteria including adequacy of private financing sources for the project’s $40 million development cost.

[Nick]

http://www.minneapolismn.gov/www/groups ... 100007.pdf

Site plans are up on the CPC website. I like the look of this. The colors make it a little different from everything else going up. But similar to my hopes for the Arby's site, I would hope this isn't built solely to cater to students.

[Nathan]

Nice! I agree, it would be nice if they were mixed housing types.

[min-chi-cbus]

Holy crap this project looks huge! I'm shocked that this is (only) 204 units total!!

I like the colors too and like this project in general. I've always been a bigger fan of smaller-scale projects or infill projects that don't look like they were developed by the Wal-Marts of real estate (giving off the look of industrial-sized projects), but this isn't too bad and really adds a lot to the area.

Unfortunately however, in the renderings I saw almost exclusively students, so I'm not sure this will cater to lots of other types of renters, Nick.

[lordmoke]

This is on the Planning Commission agenda for next week. Apparently, it's just called The Station on 4th now. And it looks like it'll be getting full approval. I have to say, I'm pleasantly surprised with the renderings on this.

[Nathan]

Holy crap this project looks huge! I'm shocked that this is (only) 204 units total!!

204 Units... 812 Bedrooms?

[twincitizen]

Site plan & renders: http://www.minneapolismn.gov/www/groups ... 100007.pdf

Time to rename thread to "The Station on 4th"

This one needs a rezoning from I1 to R6, I hope that doesn't present any problems getting through the city council.

[min-chi-cbus]

Holy crap this project looks huge! I'm shocked that this is (only) 204 units total!!

204 Units... 812 Bedrooms?

Did you mean 816 bedrooms?

[Nathan]

Yeah !!! But looking at the site plan again it looks like a lot of 2 bedrooms too... maybe like 654 bedrooms

[Silophant]

Wow. That'll get kinda confusing, having two student-focused buildings both called "The Station".

[twincitizen]

Planning commission approved everything on 10-29-12.

[gpete]

I think this one has changed its name to "Metro Park East," and it's about to break ground: http://finance-commerce.com/2013/04/dal ... ar-u-of-m/

And here's a press release about it from the financing company http://www.hfflp.com/GetDocument.aspx?D ... t&ID=54341

[Nathan]

Are they doing this in phases then? In the renderings one of the three buildings is 5 stories, and the other two are 6. The F&C article says they are beginning on a 5 story building...