Hines

36-STORY TOWER PLANNED FOR THE NORTH LOOP

A parking lot adjacent to the Twins Stadium is set to become home to a large mixed-use development. 

Houston-based Hines has revealed that they are planning a new development called “North Loop Green” on the site located at 350 N Fifth Street in the North Loop neighborhood. The development would include a 36-story residential building and a 14-story office building.  

The 36-story building would be home to 450 rental apartments. Those units would be split into two different types with 360 of them being market-rate apartments and another 90 being short-term rental apartments. Each apartment type would have their own designated lobbies but both would share the same amenities.

The 14-story building would be home to 340,000 square feet of office space and has actually already landed a tenant for a portion of that space. ESG Architecture & Design, the firm who also designed the project, has committed to move their entire office of 175 employees from their current space on Washington Avenue to the new office tower once complete in late 2022.

ESG was selected by Hines after a national search due to their understanding of Minneapolis and the number of projects they have completed within the city. North Loop Green is ESG’s largest project that they have worked on to date.

When it comes to the design of North Loop Green it was designed with transit and density in mind. Hines hopes that the site can be an “urban oasis” for travelers coming from the Blue and Green light rail lines, the Northstar Commuter Rail and the Cedar Lake Trail

A new “grand staircase” along with pathways and plazas will be built within the site that will connect it to the Cedar Lake Trail below. A large plaza will be located in front of the two towers that will feature gathering space for the community. 15,000 square feet of retail space will be located off of this plaza on the ground floor of each building.

When it comes to the designs of the buildings Hines wanted to ensure that characteristics from both the North Loop and the Downtown Central Business District where both included. ESG therefore designed the buildings to feature clean and crisp silhouettes that draw from many of the designs of skyscrapers in the CBD while also featuring handmade design elements inspired by the North Loop. 

One unique design element of North Loop Green will be an “amenity bridge” that spans between the two buildings. Due to the taller floor-to-floor heights in the office building the bridge will connect on the 17th story of the residential building and the 14th story of the office building. Within the bridge there will be 5,000 square feet of indoor/outdoor space to house a restaurant and bar that will have stunning views of the downtown skyline.  

Hines has owned the site where North Loop Green will be constructed since 2012. The site is part of a 6 acre-parcel of land where Hines has already developed two phases with the first being Dock Street Flats and the second being the T3 office building. 

This also isn’t the first proposal that Hines has had in the works for 350 N Fifth Street. Back when The Development Tracker first began Hines was exploring another two-tower proposal that would have included two 20-story buildings. One of the buildings would have included office space while the other had not been determined at the time. You can see that proposal here.

Hines will submit their plans for North Loop Green to the city of Minneapolis and the North Loop neighborhood later this week. The project still will need to go through all of the formal city review processes which means construction most likely wouldn’t begin until Spring 2020 at the earliest.

We’ll be sure to post more information right here on our website about this exciting project as it becomes available.

 

11 story office building planned for North Loop

Proposal for 616 N. 5th Street | Schaefer Richardson

It's a development frenzy in the North Loop. This week another new project was announced for the ever growing and ever changing neighborhood BY Schaefer Richardson.

Located at 616 N. 5th Street on what currently is the site of a Weather-Rite warehouse, Schaefer Richardson plans to construct an 11 story, 200,000 square foot office building. One level of underground parking would be include, along with two above ground levels that would be wrapped in retail. The design for the overall structure is pretty iconic we'd say and to be honest, we absolutely love it.

The mid-rise features a dramatic use of light and dark tones. Designed by Minneapolis based UrbanWorks Architecture, the overall feel for the building plays off an "urban-industrial" design. 

The unique "saw-tooth" (three triangular peaks) in the roofline create an interesting and defining element to the project which is a good thing as it will arguably be the tallest structure within the neighborhood once completed. However it's not just for looks as the roofline design will allow more natural light to filtrate from the North to the surrounding areas while also allowing for solar panels to potentially be installed facing the south.

A BELIEF IN THE NORTH LOOP

Schaefer Richardson currently owns quite a number of office properties in the North Loop however none are as large as what the company is currently proposing on the Weather-Rite site. While the project is the most recent to be proposed, it's not the only large scale development planned for the neighborhood... or even the block.

Currently United Properties' has a 10 story building in the planning process that will be located directly next to the Target Field light rail stop. The company is looking for a number of lease assurances before construction begins. Overall the development will dramatically change the overall feel and look of the area, especially with Schaefer Richardson's proposed project just down the block.

Meanwhile, across the Interstate 94 exit/entrance roadway that somewhat divides a portion of the North Loop, Hines is currently developing T3, a seven story office building with retail on the first floor that will be the first and largest wood structure of it's type within the country.

While Schaefer Richardson has debuted the plans for their North Loop project they will wait until half of the the space is leased within the building before construction begins. 

AN ENTIRELY NEW BLOCK

As mentioned above, Schaefer Richardson's proposal comes on the heels of this particular block's redevelopment in the last five years. The area use to be filled with almost entirely office and industrial buildings... That was until a few housing developers took a chance and of course the Minnesota Twins selected the area for the new stadium.

Since the stadium opened this portion of Fifth Street has seen a number of new projects. Be The Match opened their brand new headquarters this past winter while last year Junction Flats, a new 6 story, 182 unit apartment building across the street from the Weather-Rite site, opened the year before.

Directly next to the site where Schaefer Richardson has proposed their office building District 600 opened this month, bringing a new 6 story building with ground floor retail and 78 apartment units to the neighborhood. 

What also is quite interesting is that the current proposal from Schaefer Richardson will develop roughly 1/3 of the Weather-Rite site. Depending on how successful the first building is, the company could proceed with two additional phases including more retail, office and potentially even residential space.

 

Wondering what else is being developed in Minneapolis? Check out our development map here.