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Wednesday, June 5, 2013

Development Action Along the Green Line in Ward 4

From day one, the light rail project on University Avenue, now known as the Green Line, has been about quality of life, better transportation access, and economic development.  Completion of the Green Line and anticipation of the train beginning service in about a year has spurred a great deal of development interest along the avenue.  As a group, these projects represent a potential for upwards of $200 million in new investments in Ward 4, and a significant addition of market-rate and affordable housing units for our community.  These projects will greatly add to the life, vitality, and livability of our community, and represent the first round of investments directly linked to the public investment in light rail.

Here is a sampling of the projects either underway or planned -- from west to east.

2700 University Avenue
Flaherty & Collins are planning a project on the southeast corner of University and Emerald with a combination of market-rate and affordable apartments. 

Chittenden and Eastman rendering
Local developer Jim Stoplestad acquired this building at 2402 University Avenue and converted it to market-rate apartments.  Located in the Raymond/University Historic District, about a block from the Raymond LRT stop, this project took advantage of Historic Tax Credits.

Prior Crossing

Prior Crossing
Beacon Interfaith Housing Collaborative is planning an apartment building for about 40 homeless teens at Prior and University. This project will fill a need in the community for stable housing for homeless teenagers.

Habitat for Humanity
Habitat for Humanity just broke ground on their new Twin Cities headquarters at Prior and University. The project will improve the visibility and accessibility of this great Twin Cities institution.  The project does not involve any direct financial support from the city.

Episcopal Homes
Episcopal Homes, whose campus at University and Fairview provides the full continuum of housing options and care for seniors, just broke ground on a new building that will include independent living for low-income seniors, a memory-care unit, assisted living, and a first-floor coffee shop. 

Hamline Station
Hamline Station
Minneapolis-based nonprofit housing developer and service provider Project for Pride and Living acquired this site on the north side of University between Hamline and Syndicate and is planning a mixed-used development of retail and affordable apartments.  The project will fill the entire block, and will include two buildings with a plaza space in between.  

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