Northland Breaks Ground on 194-Unit Midwest Expansion

Northland is expanding its national development platform with construction of a 194-unit expansion to SoRoc on Maine, a 186-unit, garden-style community in Rochester, Minn., acquired in April.

When completed in early 2024, the 380 total units will operate jointly across five buildings over approximately 13 acres and share management capabilities and amenities.

Northland is partnering with several local Minnesota companies on the expansion project, including Miller Architects & Builders and Minnwest Bank, which provided $28 million in construction financing.

Northland is using its in-house national development platform to expand on the asset’s in-place entitlements for the new construction on approximately 6 acres of the property in  the South Rochester submarket. Plans call for a mix of studio, one- and two-bedroom units across two three-story buildings. The new units will complement the community’s existing Class A homes. Apartment features will include nine-foot ceilings, wood-style plank flooring, shaker-style millwork, stainless steel appliances, quartz countertops and modern tile backsplashes. Select units will also have ground-floor patios and upper-floor balconies.

Community amenities include a resort-style pool, central green area with bocce courts, three fitness centers, a clubhouse with private event space and commercial kitchen. The new construction will add studio space to the clubhouse’s fitness area and heated parking garages in each new building.

Growing the Portfolio

Santo Dettore, associate vice president of development at Northland, said in a prepared statement the team looks forward to completing the vision for SoRoc on Maine, doubling the size of the community and leveraging Northland’s national development capabilities. He called Rochester a compelling market and said the expansion at SoRoc on Maine represents another phase of growth for the company’s development platform and its first venture in the Midwest region.

A real estate private equity firm, Northland has $8 billion in assets under management including more than 26,000 residential units in 15 states, 2.1 million square feet of commercial space and a $3 billion development pipeline. The firm, which acquires, develops and manages multifamily and mixed-use assets, has a development pipeline that includes garden, mid-rise and high-rise residential projects across the United States. The pipeline includes projects in Boston; Atlanta; Denver; Richmond, Va.; Connecticut; New Mexico and Arizona.

In recent months, Northland has made several multifamily and senior living acquisitions. Last month, Northland purchased 511 Meeting, a 221-unit luxury multifamily community in Charleston, S.C. In August, Northland acquired Emblem Alpharetta, a 210-unit senior housing community in Alpharetta, Ga. It was the fourth Georgia purchase this year and second in the Atlanta area following its acquisition of The Maven, a five-building, 276-unit property in Suwanee, Ga. Also in August, Northland bought Preserve West, a 318-unit, garden-style community in Madison, Wisc.