Anyways if anyone is still in doubt about this Magellan's website is saying they have commenced construction (this is probably were Star Trib and the others got that info) I would guess we will start to see the cranes being assembled and going up tomorrow. Here's the link to their websiste.
Also I'm glad to see they will be including 3 bedrooms, everything I had seen before had only shown studios and 1 & 2 bedrooms.
Cranes are Erected as Magellan’s First Luxury Apartment High-Rise starts Construction in Loring Park
Posted by vanessa | October 26, 2012 | No Comments » |
Chicago-based Magellan Development Group LLC has commenced construction of a new luxury apartment tower situated in the Loring Park neighborhood of Minneapolis.
The 36-story mixed-use high-rise located at 1369 Spruce Place will include residential apartments, retail space, and on-site parking. The building will contain 354 rental apartments, including studios and one- to three-bedroom residences with condo quality finishes, offering captivating views of the park and city. The walk-to-work location is steps from the city’s renowned Theater District, Orchestra Hall, Walker Art Museum and Minneapolis Sculpture Garden, Minneapolis Convention Center, dining, shopping, and boutiques.
The property will feature more than 41,000-square-feet of world-class indoor and outdoor amenities. Interior amenities will include a state-of-the-art fitness center; lap pool, hot tub, sauna and steam rooms; media and game room; resident lounge, business center, bicycle storage and a private in-building dog run with washing station. The exterior landscaped deck will include a splash pool, hot tub, fire pits, grills and lounge areas.
As a strong advocate of developing green projects David Carlins, president of Magellan Development, noted that Loring Park Apartment Tower is designed to achieve United States Green Building Council’s Leadership in Energy and Environmental Design (LEED) Silver Certification.
Designed by Magellan affiliate Loewenberg Architects, The tower was designed to be a striking Minneapolis icon with its curved glass curtain wall, mixture of colors, textures, volumes, and transparencies.
“We want to thank Ald. Lisa Goodman for her assistance in piloting the development program to a successful conclusion. Our aim is to make the property an important addition to a culturally and socially significant neighborhood,” said Carlins.
The $100+ million structure will be capitalized with funds provided by BMO Harris Bank, the INDURE Fund managed by National Real Estate Advisors, Royal Bank of Scotland (RBS), and ULLICO.
General Contractor for the development is a joint venture of James McHugh Construction Company and Adolfson and Peterson Construction.