August 25th, 2016/Minneapolis, MN – LMC, A Lennar Company, formally celebrated breaking ground on its Northeast Minneapolis high-rise apartment community, located at 315 1st Avenue Northeast, Minneapolis, 55413.
Joining LMC were nearly 100 representatives and officials from the Neighborhood, City, County, Metropolitan Council, and State government, along with featured local mainstays Kramarczuk’s and Surdyk’s.
The site, formerly known as Superior Plating, has a long and storied development history. It was initially developed in 1891 as a street car barn that was used by the Minneapolis Rapid Transit Street Railyard Company. The site was used to repair street cars until 1955 when Superior Plating took control of the site for a variety of plating uses, eventually ceasing operations in 2012. After several years of environmental cleanup, LMC closed on the property and began design work in June of 2015. The thoughtful community-based and pedestrian-centric design was a direct result of close collaboration with Nicollet Island East Bank Neighborhood Association (NIEBNA), members of the City Council, and ESG Architects. Through a combined effort between LMC, the MPCA, and the City of Minneapolis, environmental remediation of the site was completed in June 2016. LMC and their General Contractor, Weis Builders, began construction last month.
“We are very proud and honored to partner with so many passionate and talented people to bring the collective vision for this important site to fruition,” said LMC’s Vice President of Development Peter Chmielewski. “With so much history and such a prominent location along 1st Avenue in this dynamic northeast community, it was important to engage with the neighborhood in a meaningful way to ensure the best possible integrated design,” added Chmielewski.
“Nordeast Minneapolis has long been known for its creative and artistic residents and businesses,” LMC’s Development Manager Jon Fletcher noted, “Bringing additional activity through residential and retail density to the immediate area continues to build on and support that track record. NordHaus will further enhance and establish Northeast Minneapolis as a place to thrive.”
NordHaus will stand 20-stories tall, contain 280 apartment homes (including 12 luxury penthouse units), 22,000 square feet of retail, a destination restaurant space, and 390 parking spaces. In addition to featuring best-in-market Scandinavian inspired finishes, the community will contain an impressive array of first class amenities, including dog play areas, bicycle lounges, package concierge services, work from home suites, club room areas, hobby rooms, and a one-acre rooftop amenity area including a pool, hot tub, and much more. First homes are expected to be delivered in Fall 2017. The community and future residents can stay connected to the development by visiting www.LiveNordHaus.com.
Debt funding for the development is being provided by BMO Harris Bank and Associated Bank. Partial funding for the project was provided by the Minnesota Department of Employment and Economic Development, Metropolitan Council’s Metropolitan Livable Communities Fund, Hennepin County, and the City of Minneapolis.
Founded in 2011, LMC, a subsidiary of Lennar Corporation, is a multifamily real estate development company focused on assembling a diverse portfolio of institutional quality multifamily rental communities across the US. As of May 31, 2016, LMC had 8 completed and operating communities and 32 communities under construction, totaling approximately 12,000 apartments with a total development cost of $3.0 billion.
Locally, Lennar Homes is the largest home builder in the Twin Cities region with 32 active communities in the metro area. In addition to NordHaus, LMC is completing two multifamily communities in nearby Bloomington and Edina. Indigo @ BCS, a 395 unit community within the Bloomington Central Station Masterplan, opened in July 2016. Onyx Edina, a 240 unit community with 11,000 square feet of retail on York Avenue, is scheduled to open September 2016.
LMC is committed to developing vibrant multifamily communities and creating homes and lifestyles for residents within dynamic neighborhoods that enhance the public and private realm.