Market-Rate Apartments Considered for Vacant Bank Site in Crystal
Developers aim to construct a new five-story apartment complex where a vacant bank now sits in Crystal.
If it’s approved, it would be the first market-rate apartment complex built in Crystal since the 1980s.
Yellow Tree Development, a firm based in Minneapolis, wants to build the 174-unit complex on the 2.2-acre Wells Fargo site at 7000 56th Ave. N.
“It’s really exciting that it’s the first market-rate housing apartment building in Crystal in 40 years, which is really cool,” said Council Member David Cummings. “I’m just super happy that this happened, because when a site like the Wells Fargo site happens and it’s free and it’s open, you kind of worry it’s going to sit there for five or ten years. And I don’t even know if it was two years, so it’s really great to see that we’re diversifying our housing stock.”
That property is located off Bass Lake Road between Jersey and Maryland avenues.
If the project moves forward, the existing Wells Fargo building, which was built in 1963, would be demolished and replaced with the apartment complex.
The exterior of the former Wells Fargo building in Crystal.
Units at the complex could be as small as an alcove — a studio unit with a dedicated nook for a bed — or as large as three-bedrooms.
The Crystal City Council approved the first reading of an ordinance to rezone the Wells Fargo site at its Dec. 16 meeting.
Amenities at the complex would include a fitness room, a package room, bike storage and enclosed garage spaces.
If the project is eventually approved, construction would start in spring of 2026 and wrap up by late 2027.
