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Highrises Discussions of projects under construction between 100-199m/300-649ft tall.
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Old August 19th, 2011, 08:42 PM   #1
spectre000
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MINNEAPOLIS | 1368 LaSalle Ave | 114m | 374ft | 36 fl | T/O

A new highrise is being proposed by a Chicago based developer for the Loring Park neighborhood near downtown.



$100M+ apartment plan proposed for Loring Park area

"..Chicago-based Magellan Development Group LLC is proposing a 36-story, 355-unit apartment tower on a site it once envisioned for a condo tower.

Magellan Development Vice President Brian Gordon said that the project budget would be “over $100 million.” The site, now a parking lot, is at 1368 LaSalle Ave., one block east of Loring Park and about two blocks from the Hyatt Regency Minneapolis hotel at the southern edge of downtown Minneapolis.

“...It would be the first concrete rental building in probably 30 years. It would be high-rise, which is unusual. This will have great views and balconies and amenities,” Gordon said. “There’s a lot of proposals for stick-built apartments up there, but nothing with all the amenities that we’re proposing. We’ll have a pool; we’ll have a 24-hour doorman, fitness center, business center, movie theater and lounge.”

"...The developer will be applying to rezone the site to the newly created “B4N” zoning district. That district would limit height to 10 stories, but Magellan plans to apply for a conditional use permit to increase the building height."


Loring Park Magellan Apartment tower.html

"...preliminary plans for a new 355-unit apartment project at 1368 LaSalle Ave.

The project would have about 18,000 square feet of commercial space on the first floor that would include the residential lobby and leasing office as well.

The plan includes about 250 parking spaces that would be in a structured parking garage on floors two through four."

"...Gordon described the apartments as "high-end luxury" with a 24-hour doorman, a health-club facility and pool, movie theater and business center.

Gordon said the company was patient with the site as it waited for financing. He said Magellan is in the preliminary stages of talking to several lenders and equity partners. Magellan hopes to break ground in on the project in 2012."
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Old August 19th, 2011, 09:00 PM   #2
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Great news Spectre!
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Old August 19th, 2011, 09:04 PM   #3
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Looking good. We'll have to see if there is going to be another backlash against building something this tall in the part of downtown known for NIMBYs
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Old August 19th, 2011, 09:11 PM   #4
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For reference, 1368 LaSalle Ave

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Old August 19th, 2011, 09:52 PM   #5
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Wow. It won't even be in Minneapolis' cluster.
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Old August 19th, 2011, 10:55 PM   #6
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Quote:
Originally Posted by oilmanjr View Post
Wow. It won't even be in Minneapolis' cluster.
I like the location since it'll expand the skyline further southward. The inner downtown skyline is already very dense.
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Old August 20th, 2011, 12:58 AM   #7
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Quote:
Originally Posted by spectre000 View Post
I like the location since it'll expand the skyline further southward. The inner downtown skyline is already very dense.
Agreed! The Carlyle did wonders to extend the skyline north and this tower will help do the same toward the south. Loring Park is also one of the best neighborhoods in the city, and once the new Lunds is complete demand is only going to increase to live in and around this area. Hopefully more towers will be proposed in the near future, especially along Hennepin ave.
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Old August 20th, 2011, 07:48 AM   #8
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How tall do you reckon it is going to be? 400-420 ft?
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Old August 20th, 2011, 05:33 PM   #9
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Quote:
Originally Posted by Major Deegan View Post
How tall do you reckon it is going to be? 400-420 ft?
10 feet per floor is pretty SOP for a residential building. If this were condo's maybe they'd be taller, but not for a rental building. Plus there are two parking ramp floors in the base. Those are always short.

I'm gonna guess and say anywhere from 380-420 feet.
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Old August 21st, 2011, 07:22 PM   #10
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Quote:
Originally Posted by Major Deegan View Post
How tall do you reckon it is going to be? 400-420 ft?
They said high end apartments; meaning taller ceiling height, more mechanical, more soundproofing. Probably at least one level (uncounted) for a very large make-up air system and the dehumdification and exhaust for the pool, the units and building in general. At least 430-450 feet. It will be a nice addition.
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Old October 9th, 2011, 01:12 AM   #11
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Read the CLPC's Board Meeting minutes from Sept 12th.
http://www.loringpark.org/minagen/cl...oard%20min.pdf

Some noteworthy items,

"..in Chicago they provide .4 per unit. The prior proposal had .9 per unit. This proposal has .6 per unit. They are having conversations with Bob Lux about leasing out parking from the Loring Parking ramp. They will also open parking for lease to anyone in Loring Park community, not just the building tenants or clients of the retail operation."

"..They proposed retail along Spruce, the city is recommending no retail on Spruce and have been very strong about that. Presently, the leasing office storefronts on Spruce. "

"..Eitel development presently leases car stall at the proposed development site for guest parking, rental unit waiting list parking, and Loring Kitchen and Bar valet. Jana reported that both LK & B and Loring Theater lease with Mpls. Public Schools valet parking for their guests annually. Eitel has a yearround waiting list for parking and initially it was thought that their tenants would not use/own cars. This has been proven not so."

"..scheduled for the Planning Commission on Oct. 16th".

"..Developer wants to get in the ground in January and begin leasing the units within 18 months, estimating April of 2013. "
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Old October 9th, 2011, 08:27 AM   #12
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Emporis shows the height as 131.68m/432 feet. Wow! I didn't expect it that tall.

http://www.emporis.com/building/1368...eapolis-mn-usa
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Old October 12th, 2011, 01:13 AM   #13
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Nice one!
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Old October 22nd, 2011, 10:28 PM   #14
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Quote:
Originally Posted by spectre000 View Post
Emporis shows the height as 131.68m/432 feet. Wow! I didn't expect it that tall.

http://www.emporis.com/building/1368...eapolis-mn-usa
Yeah pretty much the only resys being built with low ceiling heights are in Honolulu. Buyers want high ceilings. Should be a corker when it gets off the ground!
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Old October 23rd, 2011, 12:17 AM   #15
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Site plans posted on the Citizens for a Loring Park Community's website. Very detailed. Shows the actual height as 374 ft 4 inches. Looks like Emporis was wrong. Oh well. Still a great building.

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Old October 23rd, 2011, 12:58 PM   #16
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Emporis is always wrong and not up to date. Don't use it as a source
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Old October 23rd, 2011, 07:23 PM   #17
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Quote:
Originally Posted by Ni3lS View Post
Emporis is always wrong and not up to date. Don't use it as a source
+1
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Old October 24th, 2011, 05:11 AM   #18
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Quote:
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Emporis is always wrong and not up to date. Don't use it as a source
I know. I was waiting for official site plans before posting the final height.
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Old October 24th, 2011, 05:41 AM   #19
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Looks pretty good, but I'd love to see more renders to make a more learned opinion
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Old November 5th, 2011, 03:16 AM   #20
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http://www.loringpark.org/minagen/la...minOct2011.pdf

The latest CLPC Land Use meeting minutes were posted online. One item of interest is that Magellan is considering installing elevator parking in the project. Essentially 2 cars could park in one space, one being above the other. That would allow an additional 160 spaces. That would increase the two parking floors in height by 2 feet each. But Magellan states they are only consider installing those elevators if necessary based on the market/tenants demand.

The rezoning application for the site has been submitted as well. The developers goal is to have the project before the city's Planning Commission by Dec 12th.
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