Three-Generation Bader Forms New Entity for Development

By Anuradha Kher, Online News EditorMinneapolis–The newly formed company, Bader Development, has partnered with DJR Architecture, Damon Farber Landscape Architects and The Frana Cos. on the mixed-use project, The Ellipse, planned for the northwest corner of Excelsior and France in Minneapolis. The Ellipse is Bader Development’s first project since it re-launched as a new company after the executives of the 50-year-old firms, Steven-Scott Development and Steven-Scott Management decided to form a separate entity for development work.Executives Sid Bader and his son Scott have launched Bader Development along with Scott’s son Robb, vice president of acquisitions and development. Robb recently returned to the Twin Cities with eight years of commercial real estate experience in Los Angeles, where he closed transactions in the Beverly Hills, West Hollywood and Hollywood markets. Bader Development plans to do work only in the Minneapolis area. The company’s first project features 132 studio, one-, two- and two-plus-bedroom apartments and 16,000 sq. ft. of main-floor commercial space. “It is difficult to get financing right now but we have approached government agencies because they don’t have the same restrictions,” Robb Bader, vice president of acquisitions and development, tells MHN.According to President Scott Bader, who retains his position as a principal of Steven-Scott Management, “The transformation of Steven-Scott Mangement’s development arm into Bader Development allows each component of this strategic partnership to focus on its strengths.”