Coming Soon Near Lake Calhoun: Two New Towers or One?

“Bader Development of St. Louis Park wants to build two 22-story apartment towers near Lake Calhoun on the western edge of Minneapolis, the largest residential project proposed in the city in years.

In documents made public by Minneapolis city planners on Friday, [Bader said it] envisions a makeover of a 4.5-acre property that is the site of the 65-year-old, 21-story Calhoun Tower apartments.”

–“In massive project, developer proposes two 22-story apartment towers near Lake Calhoun”; Star Tribune (1/5/2018).

Does the news story above sound familiar?

To readers of this blog, it does.

Consider the following:

“Purchased last December by Bader Development, Calhoun Towers is getting a top-to-bottom renovation. First up:  5 just-completed units in the now-subdivided penthouse that rent for $5,200 — $6,500 a month. Slated for later 2018:  a new tower on the north side of the two acre parcel, where there’s now a parking lot.”

–“Calhoun Towers** in Southwest Minneapolis Gets a Makeover ” and a New Neighbor (in 2018)”; City Lakes Real Estate Blog (11/16/2017).

So, why did my post talk about only one tower, while the Strib article mentions two?

The two-tower proposal has yet to be approved, and may very well shrink in height or scope to win neighborhood/city support.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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