AFFORDABLE APARTMENTS BEGIN CONSTRUCTION IN NORTHEAST

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Work on a new mixed-use building that will include affordable apartments is officially underway in Northeast Minneapolis.

Located at 2435 Marshall Street NE (across the street from Betty Danger’s Country Club), plans for Gateway Northeast include a five-story mixed-use building that when complete will include 128 affordable and mixed-income apartments along with 9,600 square feet of ground floor commercial space. The project will also include 119 parking spaces located on one underground level and one at grade level.

This isn’t the first project planned for the prime corner near the foot of the Lowry Bridge.

In 2015 a Developer originally envisioned the site being redeveloped into a mixed-use building that included market-rate apartments and retail space. Part of that retail space was set to become home to the River Liquor Store, a business that had occupied the site up until recently. Unfortunately, the project which was called “LoMa”, never came to fruition.

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Flash forward four years and we’re ready to witness a new developer’s vision for the site.

Commonbond Communities is the group behind the redevelopment of the corner of Marshall Street NE and N Lowry Avenue. If you have yet to hear of Commonbond Communities they’re a company that is responsible for creating a number of communities that “help people of all ages and walks of life meet their goals and thrive.”

It was just a few years ago when Commonbond began to notice how quickly Northeast was gentrifying and how high the rental prices were climbing. That’s when they decided to step in. Quickly after they acquired their first property in Northeast, Stonehouse Square Apartments, they began planning their second property in the neighborhood, Gateway Northeast.

While Gateway Northeast may be Commonbond’s second property in Northeast, it is likely not to be their last. As Northeast continues to grow we anticipate seeing a number of other unique and affordable projects, like Gateway Northeast, emerge and thrive within the community.

Gateway Northeast is anticipated to be complete in February 2021.