By: Clare Kennedy, Minneapolis Real Estate Journal
Posted: March 09, 2018
Co-developers Ryan Cos. U.S. Inc. and Luigi Bernardi unveiled plans for the 101-unit building at 1111 River Parkway West at a Downtown Minneapolis Neighborhood Association Land Use Committee meeting on Tuesday. By Friday, scores of calls had come in from would-be residents, said John Wanninger, an agent at Lakes Sotheby’s International Realty, who will be tasked with selling the condos.
“My phone has blown up. Calls are coming in from local executives and snowbirds in Naples,” Wanninger said, adding that the project’s pedigree and ambitious scope were more than enough to fuel interest. “Just landing an architect like this is a big deal.”
The building will be designed by renowned Robert A.M. Stern Architects of New York City. Three of the firm’s partners will lead the effort, including Robert A.M. Stern himself, Paul L. Whalen, and Melissa DelVecchio. Stern, formerly the dean of the Yale University School of Architecture, was awarded the Richard H. Driehaus Prize at the University of Notre Dame in 2011 for accomplishments in the field, which include Philadelphia’s 58-story Comcast Center, 15 Central Park West condominium tower in New York, and the master plan for Celebration, FL.
The Eleven will boast large units, starting at 1,600 to 1,800 square feet, the team told the DMNA committee on Tuesday. Bernardi added on Friday that the biggest unit will likely be a two-story penthouse, though he was quick to say that the details are not yet final. The building will also be graced by a rooftop deck with an infinity-edge pool, gardens and trees, office and restaurant space on the ground floor on the west side, and of course, stunning views of the Minneapolis skyline and the Mississippi River.
Accordingly, the units will sell at top-shelf rates as well, though the developers would not disclose how much they may cost.
“This is going to break price points,” Whalen told the DMNA land use committee on Tuesday. “When a wealthy person buys a [condominium] here, they’re casting a vote for the future of downtown. That’s what has happened in New York and elsewhere, and we think it can happen in Minneapolis too.”
Ryan and Bernardi have not yet gone before city officials. The project will make its debut at the Planning Commission of the Whole on March 22, they said. If all goes well, construction could begin before 2018 is out, with occupancy in 2020.
Eleven condos are marketed exclusively by WMG Partners, John Wanninger, Kevin Mullen and Ben Ganje.