Nolo Flats - (602 1st St N)

[RailBaronYarr]

^In addition, without meaning to sounding too MasterPlan-y, seems like the North Loop isn't necessarily the best spot for affordable housing. I only say that because the type of shops and services found there today (and likely into the future) don't seem to meet lower-income household requirements. I'm not saying I'm against it, but unless we also want to ensure there are affordable grocery stores, daycares, etc in the area it's kind of a tough fit.

[min-chi-cbus]

I'm a pretty big proponent of integration in all its forms, so I'd be in favor of the North Loop having affordable housing options, personally. I think it would be good medicine.

Plus, I could use some help getting into the neighborhood....

[Chava]

I'm a pretty big proponent of integration in all its forms, so I'd be in favor of the North Loop having affordable housing options, personally. I think it would be good medicine.

Plus, I could use some help getting into the neighborhood....

[Wedgeguy]

I see in the Journal that they have started to take deposits on units for this development. There is an ad near the front of one of the issues that I picked up the other day

[5th Ave Guy]

Pretty sure they have a leasing office setup in one of the main floor units in Soltva (I think it's that one) on N. 2nd St.

[ztr421]

If you search the real estate sites (I usually use Coldwell Banker Burnett), you can see they have about 7 units listed on the MLS. Prices on those range from $780,000 to $3,300,000.

[grant1simons2]

http://www.journalmpls.com/news-feed/de ... do-project

Nevermind I guess

Edit: Really. You were surprised that your $900k to $3million dollar condos didn't see demand It's stuff like this that makes some of the people in the city think there is no more demand for apartments or condos. Also I just don't feel like this is the full story. I think there is something more to it here

[ztr421]

I agree Grant - The most expensive units in 602 were in the $1,000 per square-foot range, and I just don't think the demand or amenities were there to support that. Sure, it's a new building and all, but it just seemed reeeeally optimistic.

[John]

Shamrock's Portland Tower has 20 condos reserved already. The price point for this project is way to high.

[nickmgray]

The fact that they are pulling the plug this early seems a bit off. They have barely begun marketing the units. I'd expect it would take a good 6 months of marketing to know if the project is actually viable. To me, it sounds like they have a backup plan for the site which would feature more smaller units.

[Wedgeguy]

When you have other condo project that have better amenities and locations on the board. Why pay a mill for a condo on the 8th floor when you can get one for less with better views of the river and skyline that are under serious consideration.

[John]

When you have other condo project that have better amenities and locations on the board. Why pay a mill for a condo on the 8th floor when you can get one for less with better views of the river and skyline that are under serious consideration.

I thought 606 looked nice, but it didn't stand out architecturally and was rather ho hum. It looks similar to every other high end housing project in town with its simple boxy design. They should have tried to market something more unique and eye catching.

[TroyGBiv]

The pricing was so off - I thought they were too high from the beginning... Put them by Stonebridge and I could see it... but this isn't 2006. People expect a lot more for that kind of money.

[grant1simons2]

Plans submitted to CoW, queue the I'm not dead yet Monty Python scene

http://www.minneapolismn.gov/www/groups ... 141204.pdf

Switched over to apartments, 71 units, 7 stories

[Anondson]

Nice to see some movement...

[EOst]

Strange they're leaving the one-story building next door. Weren't the original plans to remove that?

[Wedgeguy]

Going from mega units to micro units.

[twincitizen]

Strange they're leaving the one-story building next door. Weren't the original plans to remove that?

Yep, previous plans were to remove both buildings, neither of which are contributing structures to the Warehouse Historic District. Strange that they propose to leave 606 1st alone now instead of going with a larger apartment building on the site.

Fun fact, back in 2006 there was a proposal to turn 602 1st St into a single residential unit and studio: http://www.ci.minneapolis.mn.us/cped/pl ... 02covereaw
For the sake of the city's tax base, I'm glad that didn't happen...

[MNdible]

Leaving 606 means that they don't have to accommodate the lost parking from the neighbors in their development, right?

It also gives the units on that side of the building better access to light and views. In addition, it gives them a more manageable floor plate for less expensive, smaller units -- when you're doing luxury units, you can chew up a deep floorplate with big bedrooms and bathrooms.

[lordmoke]

New plans (again), got uglier:
http://minneapolismn.gov/www/groups/pub ... 143572.pdf