December 10, 2012 by Sarah M
// By Sarah McKenzie //
Master, a Minneapolis-based developer, has a proposal to transform a long-vacant and dilapidated three-story building next to the Calumet Lofts in Northeast into a new 21-unit apartment building.
The Nicollet Island-East Bank Neighborhood Association (NIEBNA) recently endorsed Master’s plan for the 1920s-era warehouse at 115 5th St. NE — a property that has been vacant for more than 10 years.
Master has proposed a total reconstruction of the 18,000-square-foot building to make way for 21 apartments, ranging from 500 to 650 square feet. The rents would range from $870 to $1,125 a month, according to Master’s proposal.
The City of Minneapolis issued a request for proposals (RFP) for the tax-forfeited property earlier this year. Clare Housing, an organization that provides housing for people living with HIV/AIDS, also submitted a proposal for the building. Its plan called for 23 efficiency apartments.
Ultimately, neighborhood leaders gave Master’s plan the nod over Clare Housing because the developer could move ahead with construction faster than the nonprofit, said Victor Grambsch, chair of NIEBNA.
Pending city approvals, Master told neighborhood leaders they could start construction in March and have the building ready for tenants in September.