One of North Loop's last remaining large warehouses may soon see new life as housing.
The Duffy Paper building (528 Washington Avenue N) is one of the last remaining undeveloped properties located on Washington Avenue in the North Loop. The massive building once housed Duffy Paper's offices and production facilities, however in 2016 the business ceased operations within the building and since then it has sat largely vacant.
Plymouth based Dominium would be responsible for the new redevelopment of the building. Dubbed "Iron Store", that project would bring 200 affordable housing units to the North Loop. The project is unique in the fact that 100 percent units would be affordable units, something that the North Loop, one of the most expensive areas to live in Minneapolis, is greatly lacking.
The large seven story building located at the corner of Washington Avenue and N 6th Avenue would have it's exterior restored and the interior converted into apartments. In addition, Dominium would renovate two additional 1916 warehouses located to the right of the Duffy Paper building into apartments with the grand total for apartments in all three buildings coming in around 140.
But wait, there's more.
Dominium also has plans for the vacant parking lot at the corner of the site at the intersection of Washington Avenue and N 5th Avenue. Plans for that site would include a new residential building that would also house affordable apartment units, about 60 in total, along with underground parking.
Dominium hopes to begin construction on the project in 2019 with an anticipated completion in 2021.
Based out of Plymouth, MN, Dominium "is one of the nation’s largest and most innovative affordable housing development and management companies." They're no stranger to developing housing and affordable housing is one of their specialties. To top it off, they're skilled in restoring and reconfiguring historic buildings.
Take for example the A-Mill Artist Lofts, one of Dominium's projects that is within the historic Pillsbury mills located along the Mississippi River. Dominium converted that massive building and a few surrounding buildings from run down warehouses into a thriving artist community of 251 lofts. Best part? 100% of the units are affordable. The total project cost came in around $175,000,000, a huge investment for the neighborhood.
Another prime example of Dominium's expertise is the Schmidt Brewery. Completed in 2014, Dominium took that run down site and brought it back to it's former glory, converting the brewery into 247 loft apartments and 13 townhomes. The total investment? $130,000,000.
Those are just two local examples of Dominiums commitment to developing affordable housing. We can't wait to see what magic they work on the Duffy Paper building.