Mpls. Receives Apartment Pitches for Grain Belt Site
The City of Minneapolis announced in May that it was seeking proposals for the historic Grain Belt site-and it reportedly drew pitches for three separate apartment projects.
The deadline for proposals was Monday, and a total of four were submitted, according to a report by Finance & Commerce.
The property at stake is city-owned and includes the Grain Belt office building at 1215 Marshall Street Northeast, as well as 2.5 acres of nearby vacant land. Developers were invited to submit pitches for the office building, the vacant spot, or both. (The site at stake is part of a larger area once home to the Grain Belt brewery. The former brewhouse, for example, is home to RSP Architects.)
Three local developers pitched competing plans for 125- to 150-unit apartment buildings, Finance & Commerce reported. A fourth proposal involved only the office building.
St. Paul-based Everwood Development's proposal, which dubbed the site the Grain Belt Terrace, reportedly includes 150 apartments in two buildings and a renovation of the historic office building.
Minneapolis-based Diversified Equities Corporation reportedly pitched a plan called Brewery Square, which would include 125 apartments as well as office space and a park.
Griffin Companies of Minneapolis proposed 143 apartment units and a renovation of the office building.
The city's request for proposals included an asking price of $1.4 million for the residential site and $50,000 for the office building, Finance & Commerce reported. Read their entire story, including input from of the developers who pitched plans for the site, here.