CEDARst Announces Completion of the First of Two Adaptive Reuse Projects Bringing over 500 Housing Units to the Twin Cities
MINNEAPOLIS, March 30, 2022 /PRNewswire/ -- CEDARst Companies, a leading multifamily developer, today announced two new adaptive reuse projects in Minneapolis's North Loop neighborhood that will repurpose five historic warehouses and develop high-quality apartments in one of the fastest growing neighborhoods in the Twin Cities.
CEDARst’s two Minneapolis developments will bring 500 new units to the North Loop neighborhood. Residents will be able to enjoy high-quality apartments, with fantastic amenities and modern finishes, at an approachable price.
CEDARst’s two Minneapolis developments will bring 500 new units to the North Loop neighborhood. Residents will be able to enjoy high-quality apartments, with fantastic amenities and modern finishes, at an approachable price.
CEDARst’s two Minneapolis developments will bring 500 new units to the North Loop neighborhood. Residents will be able to enjoy high-quality apartments, with fantastic amenities and modern finishes, at an approachable price.
CEDARst’s two Minneapolis developments will bring 500 new units to the North Loop neighborhood. Residents will be able to enjoy high-quality apartments, with fantastic amenities and modern finishes, at an approachable price.
"We are incredibly excited to offer Minneapolis residents our distinct brand of high-quality apartments at an approachable price in this dynamic and growing neighborhood," said Mark Heffron, Managing Partner and CDO, CEDARst. "Both projects will feature modern layouts, finishes, and amenities, located at the very center of the thriving North Loop warehouse district."
The first project – the Duffey – located at 528 N. Washington Ave., is slated to open in April 2022 and includes 188 residential units (93 studios, 85 one-bedroom apartments, and 10 two-bedroom apartments) along with 24,000 square feet of retail space. The $71.1 million project boasts numerous amenities including a fitness center, resident coworking space, and rooftop deck.
"We are proud to be opening the Duffey as our first offering in Minneapolis, and eager to expand as we embark on our second endeavor which will have even more to offer," said Heffron. "Collectively, these projects will add well over 500 units to the North Loop which we consider the best submarket in the Midwest. All five of these buildings have their own inherent character, and once fully preserved and reconditioned, will offer an authentic and urban experience for residents."
The second development – which has yet to be formally named – is set to begin construction in the coming months. The project, located at 600 3rd St. N., 300 6th Ave. N., and 246 7th Ave. N., will repurpose two classic North Loop warehouse structures and offer new construction on the corner of 3rd and 7th Ave. Ultimately, this project will bring another 358 residential units and 38,500 square feet of retail space to the market. The robust amenity package will include a rooftop lounge and deck with a spacious hot tub, a coworking suite with dedicated conference space, an 8,000 square foot fitness center, game room with full length bowling lanes, as well as 293 parking stalls. The project is anticipated to cost $160 million and open approximately 18 months after construction begins.
CEDARst applies an innovative approach to residential developments with a focus on enhancing resident lifestyles and surrounding communities. Nationally, the firm has amassed a growing portfolio of distinguished and high-quality residential projects, spanning seven states across the country, with a unit count in excess of 5,000.
About CEDARst
CEDARst Companies is a fully integrated multifamily developer headquartered in Chicago Illinois. With over 50 years of combined experience, CEDARst applies a vertically integrated approach to the development of residential assets. CEDARst's $2 billion portfolio is comprised of more than 5,000 units, offering high quality apartments and a luxury experience at an approachable price point in markets across the country.
SOURCE CEDARst
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