The $38.5 million dollar Track 29 City Apartments project officially broke ground yesterday. The project includes 198 new apartments in a two-building addition to the existing 27 unit townhouse project. It is located on the north side of the Midtown Greenway between Bryant Avenue S and Aldrich Avenue S.
RMF Group and Phoenix Development Company are developing the market-rate project in partnership with Michigan-based Village Green and the property owner, Bryant Partners. Greiner Construction is building the project.
Opening is scheduled for spring 2013 with 80 of the units coming online, according to a press release. The project includes a pool, community area, Zen and rooftop gardens, Midtown Greenway access, and luxury eco designs. Units range in size from 570 square feet to 1,450 square feet, with some units having two-stories.
Financing is provided by Bremer bank and the Twin Cities Carpenter and Joiners Pension Fund (rep’d by WhiteStar Advisors).