Ryan Cos. Breaks Ground on Luxury Mixed-Use Project
- Feb 20, 2012
Ryan Cos. US Inc. broke ground on the 222 Hennepin mixed-use project, in partnership with The Excelsior Group and an institutional client of Invesco Real Estate.
The development will feature 286 luxury apartments (232,112 square feet); a 491-space, four-level parking garage; and the first Whole Foods Market in downtown Minneapolis.
The corner of Hennepin and Washington avenues is one of the most prominent in the city. The site has been vacant for more than five years, thus the new project has seen support not only from the city but also from the North Loop residents.
While Ryan Cos. is the builder and the architect-of-record for the project, Humphreys & Partners has been hired to co-design the project. Mike Ryan, director of architecture & engineering at Ryan, said the corner is a dynamic location that “will connect and support several distinct neighborhoods, and our hope is that it proves to be a catalyst for future downtown improvements.”
The transit-oriented development is only three blocks from the Hennepin Avenue/Warehouse District, the MetroTransit Light Rail station, Nicollet Mall and the heart of the Minneapolis CBD, while also only two blocks from the Mississippi River.
The 37,500-square-foot Whole Foods Market will be located on the ground floor of the development and will become the fifth Twin Cities location for Austin, Texas-based Whole Foods.
Wells Fargo will provide the construction loan. the grand opening for the project is expected in 2013.