New Mixed-Use Project at 28th & Lyndale
It’s not often that you see a bustling construction site on a Saturday.
In January, in Minnesota.
Yet that’s exactly what was happening today at the Northeast corner of 28th Street and Lyndale in Minneapolis’ Uptown neighborhood (technically, the Whittier neighborhood on the border with the The Wedge).
Called ” The Greanleaf,” the mixed-used project (artist’s rendering, above) is to contain of 8,700 square feet of commercial space and 63 units of affordable housing.
As such, it will be a nice complement to more expensive rental units rising elsewhere in Uptown (see, “The Ghost of Financial Freedom Realty“).
In a Hurry
Why the rush?
I honestly don’t know.
Perhaps the developer’s loan commitment was due to expire.
Or the labor was available, cheap, during a traditionally slow time of year for new construction.
Guess #3: the principals are trying to hit the market before next Fall, when the local rental market turns down (along with the thermometer).
P.S.: One, pronounced new trend in (larger) residential rental complexes: a range of lease terms, so that expirations — and potential vacancies — are staggered.
