Maven plans 350-unit apartments for neighborhood west of downtown Minneapolis
The developer behind the renovation of the Rand Tower Hotel is planning its next Minneapolis project: a 349-unit multifamily apartment building in a neighborhood west of downtown.
Maven Development Group submitted plans to the city showing its intentions to construct a six-story building at 250 Fremont Ave. N. in the Harrison neighborhood. Around 20% of the units in the six-story building would be affordable at 50% of the area median income, allowing the developer to leverage tax increment financing assistance.
The Minneapolis-based developer is planning the building for “a prime up-and-coming location,” as properties in the North Loop are all spoken for, said Michael Munson, Maven’s development director.
The site is a few blocks directly north of a future station for the Metro Green Line, a block south of Glenwood Avenue and a few blocks west of Interstate 94.
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