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Aug. 19, 2013

Village Green Unveils Renderings for 254-Unit Mixed-Use Project in Saint Paul

By Gabriel Circiog, Associate Editor

Village Green Co. recently unveiled new renderings for its new market-rate housing development, The Penfield.

Located on Robert Street between 10th and 11th Streets in downtown Saint Paul, the 254-unit development is one of the first market-rate mixed-use projects constructed in downtown Saint Paul in 20 years. The $62 million project broke ground on June 25, 2012, and is scheduled to be completed by December 2013, with the first residents expected to move in at the end of November. Owned by the Saint Paul Housing and Redevelopment Authority, The Penfield will feature 254 apartment units and a 27,500-square-foot Lunds grocery store. The general contractor on the construction project, which will result in $20.5 million of direct labor or 200 union construction jobs, is Weis Builders. The project financing was provided by AFL-CIO Housing Investment Trust Fund, Dougherty Mortgage, the U.S. Department of Housing and Urban Development, the Saint Paul Housing & Redevelopment Authority, the Metropolitan Council, the Minnesota Department of Employment & Economic Development and Ramsey County.

“The Penfield is a perfect example of Saint Paul’s commitment to preserving historic character while creating vibrant places to be,” Saint Paul Mayor Chris Coleman said. “In just a few short months, new residents will be moving into The Penfield, and current downtown residents will have a full-service grocery store just a couple blocks away. I’m looking forward to the grand opening.”

Village Green has been quite busy recently in the Twin Cities market: A month ago, Multi-Housing News revealed its new rendering for its 254-unit luxury rental community in Minneapolis’ Central Business District, The Soo Line Building City Apartments. The Penfield incorporates a part of its past by preserving a portion of the façade from the former Public Safety Building and integrating a historical interpretive display with the history of the building. Public art such as a corten light wall, corten steel lighted benches, cut granite benches and a Spirit of the Mississippi statue will also be incorporated.

Community amenities will include an 18,000-square-foot courtyard and green roof with an outdoor pool, hot tub, fire pit, cabanas, dog run and green space. The residents will also have access to the sundeck, clubroom with gourmet kitchen, enclosed parking and fitness center.

Stefanie Balsis, regional marketing director for Village Green, The Penfield’s property management company, said: “The Penfield is the premier luxury apartment community in Saint Paul, and will greatly contribute to the revitalization of the downtown area. The building is a unique combination of a historic façade and the modern luxuries and amenities today’s renter wants in a home.”

For more market data about Minneapolis, click here.

Renderings Courtesy of: www.thepenfieldapts.com

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