Approved: Lake & Knox Apartments
Real Estate — By Thatcher Imboden on October 10, 2010 1:08 pm
Lake & Knox Rendering, looking northeast from Lake Calhoun
Project Details
Type: Retail, Office, Apartments
Status: Approved
Area: Uptown
Location: 1728 W. Lake Street
Developer: CPM Development
Architect: BKV Group
Office Space: ~1,700 square feet
Retail Space: ~1,700 square feet
Residential: 57 apartment units
Current Zoning: C1, R6 with a SH overlay
Proposed Zoning: C1, R6 with a SH overlay
Proposed Height: 45′ and 56′, 4 and 5 stories
Proposed Parking: 93 underground stalls
Project Description
CPM Development has proposed a new five story, office-retail-apartment building at the northeast corner of Lake Street and Knox Avenue across from Lake Calhoun in Uptown Minneapolis. The site currently consists of five multi-family properties, one of which contains an office for a construction firm. The project would include a small cafe space at the corner of Lake Street and Knox Avenue and some additional office space in the building.
The project is proposed as two buildings sharing a common wall and underground parking. The project would have five stories with the top floor stepping back from the edge of the building at the upper floors. A 93-stall underground parking garage would have access from Knox Avenue. Bike storage would be provided in the ramp. A plaza/forecourt would be adjacent to the cafe and in front of the apartment building entry.
Recently, Nick Walton and Daniel Oberpriller of CPM Development told a National Association of Office and Industrial Properties seminar that they were finalizing financing and thought that closing on the loan could take place in November 2010. Walton and Oberpriller went on to say that they would clear the site once the financing was in place, otherwise they need to maintain the possibility of filling the existing properties with tenants. In October 2010, a demolition permit was submitted to the City for clearing the site, which may signify that financing is pending.
Thatcher Imboden
How cities work and change, how they are the product of their inhabitants and outside forces, and the resulting livability keep me thinking and dreaming about the future. I work in urban real estate development, am Past President of an Uptown business organization, grew up in Uptown, was on an Uptown neighborhood association Board, and am an Uptown and Lyn-Lake historian.
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4 Comments
This makes me want to throw up.
In contrast to the previous poster, I find this exciting. Always nice to have more folks in the neighborhood. Just throwing that out there.
I agree with the previous post. This is exciting and I am looking forward to the project’s completion.
The development will offer a boost for existing neighborhood businesses while adding additional viable businesses to the community.
Way to go. Would consider moving there in summer of 2011. Wish they would return my calls at the voice message # on the sign