Inland JV to Kick Off Minnesota Project
Rochester Economic Development Co. financed the project with $90 million.
Inland National Development Co. and Reuter Walton Development are working on Citywalk Apartments, a 342-unit multifamily project in Rochester, Minn. The community is expected to serve Mayo Clinic’s personnel.
The project was initially put forward as a seven-story, 131-unit apartment building. Rochester Economic Development Co. provided $90 million in financing for the project this March, according to Yardi Matrix. ESG Architecture serves as the architect and interior designer.
Citywalk is located at 201 6th Ave. SW, in downtown Rochester, close to Mayo Clinic’s and Saint Marys’ downtown campuses. The property will have easy access to Rochester’s pedestrian subway and skyway system and will access the future Link Bus Rapid Transit line.
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The 13-story building is set to come online in 2028 and will feature studio, one-, two- and three-bedroom units, as well as 90 short-term stay apartments. Amenities will feature a rooftop sky terrace, a pool, a year-round sauna, a fitness center, a coworking space, a golf simulator and a game lounge, as well as 250 climate-controlled underground parking spaces.
Inland’s total portfolio comprises $16 billion in assets under management. The company developed more than 5 million square feet of multifamily, hospitality, health care, retail, mixed-use and industrial properties across a total of 10,900 acres, including around 7,000 apartment and condominium units and north of 6,000 residential lots.
