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NorthStar

MPLS: The Nicollet

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NorthStar    0

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

DTI_965597.l.jpg

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Jaden    0

3154rod_s-bachelor-party-4.jpg

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.

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wolfdawg54    0

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.

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Jaden    0

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.

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MrCoffee    0

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

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NorthStar    0

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.

thenicollet015th.jpg

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NorthStar    0

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.

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AvianKeahi    0

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.

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Ih8thecold    0

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.

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FSUViking9    0

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

<{POST_SNAPBACK}>

Doesn't look like it......

news03.jpg

Loring tower grows from 35 stories to 48, draws barbs

By Jeremy Stratton

Developers and architects of the proposed condo, rental and retail Eitel Hospital project near Loring Park, brought a surprise to the June 8 meeting of a neighborhood task force: a 48-story tower - less than a month after the developers proposed the building be 35 stories.

There was some laughter - and a few barbs at developers - among a group that has had what one member called "eight months of contentious meetings."

Those months saw the Eitel project change substantially, including moving the tower one block off the park. Until the June meeting, the design had been for 30 floors of condos atop five levels of parking.

Task Force Chair Katie Hatt said that task force members left the previous month's meeting feeling positive about the 35-story project.

Paula Vesely agreed. "After all the pushing and shoving and kicking and screaming, everyone came away saying 'that's a hell of a building.'"

Now, after what Hatt called "dramatic changes" - the addition of 13 more floors - she wondered "what the point has been in us being here."

"This is a bait and switch," Vesely said. "We are not in favor of a 48-story tower like a rude middle finger."

Said David Carlins, vice president of Chicago-based Magellan Group "This is the starting point of a designed tower."

Carlins listened patiently to the comments.

"If you say no to a 48-story tower, we'll come back with something else," Carlins said, taking responsibility for any miscommunication.

Carlins said that developers and architects "were not thinking about the height" during their recent design work. They intended the tower be narrower and more elegant than a shorter building would permit. He noted that 80 percent of the taller tower's units have a park or city view.

The design "kept evolving," Carlins said until developers "realized it was 48 stories."

Task force members were not entirely opposed to the design - one even said he liked it, 48 stories and all - but most thought it was too tall for the neighborhood.

Task force member Paul Hinderager said that a building that tall "needs to be a signature building for the whole city. I don't see that it in this building. It's far too simple."

Architect Jack Boarman noted that the taller tower has the same square footage as the 35-story proposal, and with 487 units, still has 120 fewer than the 607 permitted under B4S-3 zoning. That's a sticky point right now, because the tower is currently planned on the half of the block zoned OR3, with a seven-story limit.

Developers are banking on a rezoning of the block, which Hatt has said in the past the task force might support. City staff, the Minneapolis Planning Commission and the City Council all still must weigh in.

Also, figure on Opus building something 40-story's of higher on North Nicollet Mall soon....Pillsbury A-Mill is closer to being reality....Twinsville, with it's 4 20-story + towers....1010 Park, over by Grant Park, with it's four tower complex, with two towers going 27 and 32 story's.....and Graves wants a 50 story tower where the Skyway Theater is....

If the Elite Tower is asking to go from 35 to 48, obviously the demand is still there.

Regardless, the Minneapolis skyline is going to be much, much larger in 5-7 years. :thumbsup:

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FSUViking9    0

Don't know if it's been mentioned or not, but The Nicollett will be the tallest residental tower in the United States, outside of Miami-Chicago-NYC. :thumbsup:

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Don't know if it's been mentioned or not, but The Nicollett will be the tallest residental tower in the United States, outside of Miami-Chicago-NYC. :thumbsup:

<{POST_SNAPBACK}>

Yup, its going to be amazing. I think Charlotte is going to have a building very close to the Nicollet's height though.

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sushisimo    0

Don't know if it's been mentioned or not, but The Nicollett will be the tallest residental tower in the United States, outside of Miami-Chicago-NYC. :thumbsup:

<{POST_SNAPBACK}>

To me, Charlotte seems like one of those cities that came out of nowhere and became a hot lookin' town! I saw the skyline on the TV once and couldn't believe it.

Anyway, I'm hoping The Nicollet will be able to smash down that Scientology building, expand its footprint and go up to 60 stories. That's a slick looking building and I'd love to see it rise up higher with more prominence. Its located at a prime place to round-out the skyline nicely. I'm not too convinced about that one near Loring Park though. It looks absurd in that particular neighborhood. It would look better near the new public library, like on the Ritz or Powers blocks.

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IluvMpls    0

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

<{POST_SNAPBACK}>

Ditto...I can't wait til it's up. I called about reserving; however, I think I'm going to stick with Riverwest for a few years...it may not be the prettiest but I think the location and cost make it the best deal downtown. 1360 square feet on the 10th floor for base 300k...granted i'm up to 350; which would have bought me a one bedroom 800 sqft place at the Carlisle.

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