99 replies to this topic

[NorthStar]

The 48-story Nicollet proposal has now been updated to 50-stories.  Plans include a 360-unit residential development with some retail and office space.  

Here's the original rendering

Edited by NorthStar, 30 June 2005 - 01:38 PM.

[bobliocatt]

Impressive.  Minneapolis' skyline will only get better as the highrise boom continues there.

[wolfdawg54]

Where will this be going in downtown? I think that Minneapolis' skyline will be a lot better with this new building.

[Jaden]

It will go right above the building with the satellite dishes (WCCO TV). It will be accross from the Target Corps World HQ (the dominate building in the photo.)

A twincityscape forumer went to the council meeting on Tuesday, and it is unkown if it will remain at 48 stories or go up to 56. Different sources cite different heights.

The actual building height will be very close to 600', most list it around 590 or so, making it the 5th tallest in the city.

[wolfdawg54]

Thanks. Looks like a great location for the building as well. I hope that it gets to be built at 56 stories because it will be more prominent in the skyline. Keep me updated on the results.

[Jaden]

The city approved the project today and construction will start this summer, in June.

It will have 50 floors of condos, and 6 floors of mechanical, etc.

[BrandonTO416]

Awesome news.

[Spartan]

That rendering looks good. Minneaoplis has a great skyline:

[richNcincy]

Very nice!

[moonshield]

very impressive. Minneapolis is great. I would consider liveing there if it was not so cold!

[MrCoffee]

moonshield, on Mar 19 2005, 06:13 PM, said:

very impressive. Minneapolis is great. I would consider liveing there if it was not so cold!

<{POST_SNAPBACK}>

I live in the Minneapolis/St. Paul area, and the cold really isn't that bad after you've lived here for a year.  The quality of life is excellent, but housing prices are on a constant upward spiral.  The area badly needs more affordable housing for those who do not earn the median income.

The climate notwithstanding, it is the quality of life, the booming economy, and the ever expanding infrastructure of Minneapolis/St. Paul that draws people.  Add all 4 major pro sports to the mix, and the result is a very dynamic recipe.  I will sadly miss Minneapolis when I move to Ann Arbor, Michigan.

MrCoffee

[NorthStar]

Here's the latest rendering of the Nicollet.   The developers are now trying to by out buy the building where the Church of Scientology is currently located because they want to make the building 60+ floors.  Also, the crescent arc will be lit up at night.

[RiversideGator]

Quote

The developers are now trying to by out buy the building where the Church of Scientology is currently located

I hope Tom Cruise doesnt get wind of this.    

[NorthStar]

According to the Finance-Commerce web site:

Construction could begin on the $100 million project at 1001 Nicollet Ave. as early as August. Minneapolis architectural firm Barbour/LaDouceur Design Group designed the structure.

Planners said about 175 units, or 56 percent of the development, have been reserved, with each reservation requiring a $1,000 deposit.

Reservation deposits merely guarantee prospective buyers a chance to view a purchase agreement for a condo unit. Then, buyers who remain interested have five days to sign a purchase agreement. If no agreement is signed, the reservation deposit check is returned to the would-be buyer.

Ryan Maurer, a sales associate for Financial Freedom Realty Services., said prices for units in the Nicollet range from about $275,000 for a 750-square-foot unit to more than $3 million for penthouse condos, some of which are larger than 3,000 square feet.

[ncguy06]

That building is going to be awesome in the Minneapolis skyline, and at night when the arc is lit...wow!!!

[okinawatyphoon]

Wow, the building can still go above 60 floors? YES!

[NorthStar]

Right now the official height is 625'-4".

Edited by NorthStar, 11 June 2005 - 09:59 AM.

[AvianKeahi]

okinawatyphoon, on Jun 10 2005, 05:10 AM, said:

Wow, the building can still go above 60 floors? YES!

<{POST_SNAPBACK}>

Yes.  The major issue I believe is the elevator core.  A larger base is needed to accommodate a larger number of elevators for a greater number of units.  It does look like a good amount of people are interested enough to plunk down a $1000 reservation fee.  Enough to cause the owners to take a long hard look at what they can do to increase their revenues.  If 60 stories makes the numbers work to their advantage, then 60 stories it could be.  But 50 stories (as it is now) could also be just fine.  Thank goodness we're not the ones crunching the numbers.  They are.  If it works, good for them.

[NorthStar]

I wonder if this project will kill all chances for the other proposed high-rises.

Edited by NorthStar, 12 June 2005 - 11:08 AM.

[Ih8thecold]

NorthStar, on Jun 12 2005, 11:07 AM, said:

I wonder if this project will kill all chances for the other proposed high-rises.

<{POST_SNAPBACK}>

Good question, and it's hard to say what the effect will be on the remainder of the market.  Seeing all of the planned and proposed construction in downtown Minneapolis leads me to believe that they will end up massively overbuilding.  Especially considering the market to which they are appealing.  Most of these condos will start in the $250-275K range for a 700 square foot space and go upwards into the millions.  Unless median incomes rise sharply, I wouldn't expect there to be a that large need for that many more units.  But we'll see, I know I'll be one of the thousands buying in downtown this year.