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Homes

Condo Complicatons

Ten projects that didn't quite pan out.

May 2007

By Burl Gilyard

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1. The Reserve: Construction halted on the project near the downtown Minneapolis riverfront in 2003 amid the original developer’s financial woes. Chicago-based Magellan Development Group has been trying to resuscitate it.

2. 1016 Marquette: Plans for a high-end, eight-unit boutique condo building were shelved; the site is to be sold for a small office development.

3. The Hotel Minneapolis: Maple Grove–based Hempel Properties and St. Paul–based Morrissey Hospitality Cos. originally planned a condo/hotel conversion of the Midland Bank Building in downtown Minneapolis. They’re pressing ahead, but have dropped the condos.

4. “38”: Lander Group scrapped condo plans at 38th and Nicollet in south Minneapolis. Lander is trying to sell the site.

5. Two Twenty Two: Plans called for 290 high-end condos above a Whole Foods Market on the site of the downtown Jaguar dealership. Seattle-based Milliken Development Group had been bullish on the site. But now condos are out and the development is looking for plan B.

6. Superior Plating: Ryan Companies eyed plans for more than 300 condos combined with commercial space at this Minneapolis metal-finishing plant. After failing to find a codeveloper for the housing, plans were dropped. 

7. Island Station: More than 200 condo units at an old power plant in St. Paul along the Mississippi failed to gel. The site is for sale for $6 million.

8. Chicago Commons: Former Minneapolis council member Dean Zimmermann was convicted of accepting bribes from the developer. The eighty-one-unit project at 24th Street and Chicago Avenue is built, but is near-empty. Listed for sale at $15 million.

9. Ramsey County Jail/West Publishing: Ramsey County put the site along the St. Paul riverfront up for sale after Rottlund Homes decided not to proceed with a twenty-five-story residential tower.

10. Uptown Landing: Units sold at deep discounts—up to 30 percent off original pricing—in February, after the Burnsville project landed in foreclosure.

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