New condo development coming to riverfront

3

August 17, 2012 by Sarah M

//By Jeremy Zoss//

Shamrock Development’s long-delayed condo project near Gold Medal Park could break ground as soon as this fall, making it the first new condo development in Minneapolis for several years. The project is planned for two parcels of land near the park, the riverfront and I-35W, 110 and 124 12th Ave. S.

According to Shamrock Development’s Jim Stanton, the project calls for 169 total units with a mix of one-plus-den, two-bedroom and three-bedroom units. The plan also includes 319 units of parking, a swimming pool, a playground and a dog park.

Stanton said he believes the project is the first new condo development in Minneapolis in four or five years. He said the time is right for the project because sales of units at Shamrock’s other condo developments have picked up significantly.

“We’ve built about 700 [condos] downtown,” he said. “Given the market we’ve had in the last two-three months at the Bridgewater right diagonally across from it, we feel really encouraged.”

Stanton said many of the units would be priced below $400,000. The project should begin construction in the fall and be completed in about 14 months. Currently, the project has no announced name. In the original proposal the project was known as Park Vista, but that name has since been dropped.

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3 thoughts on “New condo development coming to riverfront

  1. […] Click here to review a Southwest Journal story Katharine Grayson covers med tech, purify tech, technology, and try capital, and she writes a Innovation|Minnesota blog […]

  2. […] be able to build the project if Izzy’s opened an ice cream factory next door, citing truck noise.Click here to read the Southwest Journal storyKatharine Grayson covers med tech, clean tech, technology, and […]

  3. […] I was a little surprised to hear that Shamrock Development is considering breaking ground on a new 169 Unit condominium building in downtown Minneapolis.   The condominium market was the first to hit trouble as the bubble burst, it was short lived focus in the news as the sub-prime quickly took over the spotlight.  The condo market has managed to sell off the surplus inventory and now it looks like the market may be ready for new units to hit the market. Shamrock Development’s long-delayed condo project near Gold Medal Park could break ground as soon as this fall, making it the first new condo development in Minneapolis for several years. The project is planned for two parcels of land near the park, the riverfront and I-35W, 110 and 124 12th Ave. S. According to Shamrock Development’s Jim Stanton, the project calls for 169 total units with a mix of one-plus-den, two-bedroom and three-bedroom units. The plan also includes 319 units of parking, a swimming pool, a playground and a dog park. Read Full Article from Southwest Journal […]

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