Kraus-Anderson Plans to Build 204-Unit Market-Rate Apartment Complex

By Gabriel Circiog, Associate Editor Kraus-Anderson Construction Co. announced plans to build a new $39 million apartment complex in downtown Minneapolis’ historic Warehouse District. Located at 800 N. Third St., the new 266,000-square-foot apartment complex was designed by locally based UrbanWorks Architecture L.L.C. Third North, a six-story complex, will feature 204 apartment units ranging in [...]

Kraus-Anderson Construction Co. announced plans to build a new $39 million apartment complex in downtown Minneapolis’ historic Warehouse District.

Located at 800 N. Third St., the new 266,000-square-foot apartment complex was designed by locally based UrbanWorks Architecture L.L.C. Third North, a six-story complex, will feature 204 apartment units ranging in size from studios to two bedrooms. The development will feature interior amenities such as two fitness rooms, a bike shop, a conference and computer center, a dog run, a pet grooming room and a community lounge. Third North will also feature two levels of underground parking and electric vehicle-charging stations. The outside courtyard will include amenities such as a pool, a spa, built-in grilling stations, a lawn game area and boulevard trees planted in a Swedish vault system.

Kraus-Anderson announced that Schafer Richardson Inc. is the developer of the project and the groundbreaking ceremony is scheduled for Aug. 30. The market-rate apartment complex is expected to be completed in December 2013.

Established in 1897, Kraus-Anderson Construction is among the oldest commercial general contractors and construction managers in the Midwest. As previously reported by Commercial Property Executive, the company has recently announced its involvement in another development project in Minnesota. The $12 million project will be an addition to the existing Arbors at Ridges, an assisted living community in Burnsville, which currently offers 44 senior apartments. The new three-story development will feature 63 assisted-living units. The project, designed by Bloomington-based Sperides Reiners Architects Inc., is being built by Kraus-Anderson in partnership with Minneapolis-based seniors housing provider Ebenezer Management Services, which will manage the community.

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Rendering Courtesy of: www.sr-re.com