CHICAGO DEVELOPER SNATCHES UP THREE NORTH LOOP PROPERTIES

A Chicago-based developer has purchased two historic warehouses and a surface parking lot in the North Loop. They’ve got quite the plans for the sites, too.

CEDARst Companies has purchased three properties from C.J. Duffey Paper holdings that include an eight-story warehouse at 600 Third St N, a five-story warehouse at 300 Sixth Avenue N along with a surface parking lot located at 246 Seventh Ave N.

Yes, if you’re wondering, these are the two warehouses we asked about last week in our “We Ask You Wednesday” question series.

So, here’s what CEDARst is planning for the buildings.

600 Third Street N

300 Sixth Avenue N

The eight-story building that is directly behind Smack Shack is set to be transformed into 260 apartments along with 15,000 square feet of ground floor retail space. The five-story warehouse across the street would become home to 50 apartments and 7,000 square feet of retail space. That building would also house 20,000 square feet of amenity space (more details on what that will include below). The two buildings would be linked by the historic C.J. Duffey Paper Company skyway.

Amenities within the two projects would be plentiful. Residents would have access to paddle courts, a bowling alley, swimming pool and co-working spaces just to name a few of the amenities. The roof of the eight-story building would even feature an ice rink that get this, can be turned into a soccer field in the warmer months. Now, that’s a first for a residential amenity in Minneapolis.

246 Seventh Avenue N

Now, let’s not forget CEDARst also has acquired the surface parking lot that is located behind The Loose Wiles building and next to Sable. That lot would give way to a 284-space parking ramp that would be wrapped with 34 apartments. The project would also include 20,000 square feet of ground floor retail space.

If you’re keeping track, that means that CEDARst’s three projects would bring 344 apartments, 42,000 square feet of retail space and over 275 parking spaces to the neighborhood. Oh yes, let’s also not forget that CEDARst’s has another project in the works along Washington Avenue.

Work will begin in the next 30 days on the redevelopment of the Duffey Paper building (the white building across from Nolo’s) located a block away at 528 N Washington Avenue. That project will bring another 190 market-rate apartments and 20,000 square feet of retail space to the North Loop. Work on that project is anticipated to be complete in Summer 2021. Find out more about that project here.

With all this being said here are the final numbers for what CEDARst is planning on adding to the North Loop. Drum roll please. In total plans are in the works for 534 apartments and 62,000 square feet of retail space. That’s essentially as much retail space and apartments as all of the mixed-use projects that are currently under construction in the North Loop COMBINED. #gasp

Construction on CEDARst’s three mixed-use projects will still need to go before the City of Minneapolis for approval. Construction is anticipated to begin in late 2020 and last two years.