At the intersection of I-394 and Highway 100, one of Golden Valley's most visible high-rise apartments is just a few months from opening. It's one of several big rental housing projects underway in the city.
Offering views of the Minneapolis skyline, the six-story Talo Apartments are all about location, location, location.
"We have the highway visibility, and we have this great access to downtown, but it's really nestled inside of a neighborhood, so that's a very unique characteristic of this site," said Kevin Foltz, managing director of Forum Real Estate Group, the Denver, Colo., developer of the Talo project.
When the first tower is completed on April 1, tenants at Talo will have access to a lazy river and pool as well as a zen garden and walking path. They're upscale amenities designed to attract new residents who have plenty choices when it comes to new rental housing options.
"I think a lot of the demand was pent up during the Great Recession. Not only Golden Valley, but Edina, St. Louis Park, and other west metro communities felt that kind of sag a little bit, and then as the economy recovered, a bunch of projects kind of broke forth," said Jason Zimmerman, Golden Valley's planning manager.
More than six new rental projects with 1,500 total units are in various stages in Golden Valley. The Liberty town homes opened late summer, and nearly 200 Liberty apartments will open next year. And construction is just beginning for The Xenia, more than 350 apartments, which likely won't open until 2019.
"When we approved these, we were definitely looking at attracting some new people. I think providing some housing options that weren't necessarily there before, especially with town homes and some of these larger apartment buildings," said Zimmerman.
At Talo Apartments, its name and its 303 apartments are expected to have broad appeal.
"It means "house" in Finnish. It's really an homage to the Scandinavian roots of Minneapolis and it's surrounding areas," said Foltz.
With a Scandinavian style sauna and other wet and dry amenities, the project developer predicts both professionals and empty nesters will find a home at Talo.
Studio apartments start in the $1,300 range and rise to $2,000 and up for a two or three bedroom place.
Alexandra Renslo email@example.com
October 16, 2017