St. Paul-based developer Wellington Management Inc. woke up on Thursday morning to find its under-construction, 190-unit apartment project in its Minnehaha Commons redevelopment near the intersection of Lake Street and Minnehaha Avenue in south Minneapolis had been torched and burned to the ground.
The six-story, 190-unit affordable housing project had been slated to open in the spring of 2021.
A city of Minneapolis worksheet on the project listed the total development cost at approximately $37 million, including contingency and reserve funds; land and construction costs were about $30 million.
The apartment project has been known as Midtown Corner.
The affordable housing project was the third phase of redevelopment on the site.
According to the city's project worksheet, Midtown Corner was being almost entirely privately financed.
The city's project overview lists approximately $384,000 in public money from Hennepin County, the Metropolitan Council, and the Minnesota Department of Employment and Economic Development.
The six-story, 190-unit affordable housing project had been slated to open in the spring of 2021.
A city of Minneapolis worksheet on the project listed the total development cost at approximately $37 million, including contingency and reserve funds; land and construction costs were about $30 million.
The apartment project has been known as Midtown Corner.
The affordable housing project was the third phase of redevelopment on the site.
According to the city's project worksheet, Midtown Corner was being almost entirely privately financed.
The city's project overview lists approximately $384,000 in public money from Hennepin County, the Metropolitan Council, and the Minnesota Department of Employment and Economic Development.
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