Common Enters the Twin Cities with ACKERBERG at ALVERA

ST. PAUL, Minn., Dec. 9, 2021 /PRNewswire/ -- Today, Common, the fastest growing residential brand that designs, leases and manages multifamily properties globally announced its expansion to St. Paul, Minnesota in partnership with ACKERBERG at ALVERA, located at 337 West 7th Street. This 193-unit innovative modular apartment building in the West Seventh neighborhood, owned and developed by ACKERBERG and Northland Real Estate, will be a first-of-its-kind Class A multifamily building in St. Paul. ALVERA residents will have access to new and exclusive amenities and Common perks, making it unlike any other property in the area. ALVERA's doors will open in December and rents will start at $1,077.

In the bustling downtown area of St. Paul's West Seventh Street, ALVERA by Common features a mix of 193 studios plus one and two-bedroom apartments. The property is being developed by ACKERBERG and Northland Real Estate. ACKERBERG is a privately held real estate investment and development organization with substantial experience in designing, constructing, renovating, financing and operating commercial and residential projects. In the past five years, there has been an increased demand for new housing in St. Paul. ALVERA by Common will provide a place for city-dwellers looking for a stress-free living experience completely focused on the resident.

"We are proud to have created the ALVERA on the West 7^th Street corridor.  This highly innovative project demanded a unique and special organization for its operations," said Stu Ackerberg, CEO of ACKERBERG.  "We are excited to have Common as our management and leasing team.  We believe Common's approach to creating community and resident service will distinguish the ALVERA as the market leader."

The thoughtful building design concept of the ALVERA incorporates a variety of sought-after amenities encompassing two separate lobbies, on West 7th Street and the second on Smith Avenue. Additional shared spaces include a penthouse club room with an entertainment kitchen and bar, and a study nook for those working from home. The sweeping outdoor deck features amazing views along with a fire pit and grills for get-togethers with the community. Residents can also enjoy the on-site fitness center and store their bikes safely in the building's bike storage area. The 7^th Street lobby provides for a convenient two-level resident lounge and work areas as well as an art gallery.  The Smith Street lobby provides for fun game activities. ALVERA features the only self-automated parking stacker in the city which makes parking conveniently accessible for residents. In addition to the indoor amenities, residents can enjoy an exterior mural from internationally renowned visual artist Aaron de la Cruz. The mural features the artist's signature freehand linework that wraps around the exterior of floors two to seven.

"I am thrilled about this partnership because both ACKERBERG and Common are uniquely focused on making city living wonderful for middle-income renters," said Brad Hargreaves, CEO and Founder of Common. "At ALVERA, ACKERBERG has brought true innovation in design and construction to St. Paul, and being selected to operate this unique building is a real honor."

Rents at ALVERA will start at $1,077 a month and will include resident access to exclusive Common community events, convenient payment and communication technology, local and national brand perks, and more. Common has over 22,000 signed units under development in 22 cities across the globe. This past year, Common acquired management agreements from its biggest competitor Starcity, announced its expansion to the UK, added former Deputy Mayor of New York City Alicia Glen to its Board of Directors and raised $50 million in its Series D venture capital funding round from Kinnevik.

New residents can book a tour here, https://www.common.com/alvera/ or call 651-504-8827.

About Common
Common is a residential brand creating a better kind of multifamily property manager through innovations in technology, design, and operations. Common delivers exceptional experiences for renters across twelve cities and over 7,000 units in coliving, microunit, and traditional apartments. They are the preferred choice for both residents looking for a stress-free and all-inclusive living environment from a trusted brand, and for real estate owners seeking reliable, above-market returns. The Common platform also includes workforce housing management brand Noah and family-first operator Mily.  With over 20,000 units signed and under development and over $110 million in venture capital investment, Common is expanding into 22 cities across the world. To work with us, visit our partners page or follow us on instagram at @common.living.

About ACKERBERG
ACKERBERG is a privately held real estate investment and development, organization with substantial experience in designing, constructing, renovating, financing and operating commercial and residential projects. For over 55 years, the company has developed, owned and/or renovated in excess of 8.5 million square feet of retail, office, industrial and residential property with an estimated value of more than $4.6 billion. For more information, visit the company's website at www.ackerberg.com.

Media Contact:
Phoebe Dinner
[email protected]

SOURCE Common

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