LMC Breaks Ground on 445-Unit Minneapolis Property
- Jun 10, 2019
After recently breaking ground on The Ellis in Charlotte, N.C., LMC has begun work on a mixed-use rental community in Minneapolis.
Dubbed Odin, the project is set to include 335 rental units, 8,000 square feet of retail space and is slated for completion in the fall of 2020. The developer took out a $54.7 million loan from BMO Harris Bank in 2016 with a maturity date of 2020, per Yardi Matrix information.
Located at 401 First Ave. N.E., the property will be close to several cultural attractions such as the Guthrie Theater, Mill City Museum, Target Field, Target Center and Minneapolis Stone Arch Bridge. Additionally, the community will be within walking distance of many dining and retail establishments, with public transit just across the street.
The asset will feature studio, one- and two-bedroom apartments in a 12-story high-rise and a four-story mid-rise building. Common-area amenities are set to include a pool, a sky terrace, an outdoor rooftop dog run, digital package lockers, bike storage and rentable storage units. Odin marks the fourth project in Minneapolis for LMC after NordHaus, Indigo at BCS and Onyx Edina.