The construction firm Kraus-Anderson has been active in the multifamily sector in its home market of Minneapolis-St. Paul, having engaged six such residential projects in the past decade. Its latest completion is The Larking, a $100 million 16-story tower located in Minneapolis’ East Town district.
The 400,714-sf Larking, which ESG Architects designed and Kimley Horn engineered, is a mixed-use development with 341 market-rate apartments and seven penthouses, as well as a one-story Wells Fargo bank branch, 9,100 sf of street-level retail, and three levels of underground parking.
The building is targeting urban professionals with 35 floor plans—from a 402-sf micro apartment leasing for $1,430 per month to a 1,214-sf two-bed two-bath apartment leasing for $3,370, according to its website. Its design features floor-to-ceiling windows, wide-plank flooring, and exposed concrete ceilings and columns. Contributing to its live-work-play environment are a Sky Lounge, pool deck with 360-degree views of downtown, fitness and wellness center, sauna, golf simulator, pet spa, work-from-home suites, conference room, a catwalk library and community table seating, and “creation center.”
Kraus-Anderson provided development and construction services, and is The Larking’s landlord. “We feel The Larking will enhance downtown by bringing new neighbors and commercial offerings to the Elliot Park neighborhood and adding vibrancy to the overall downtown community,” Erica Arne, director of development for Kraus-Anderson, told Twin Cities Business.
Another of Kraus-Anderson’s multifamily projects, MODA at Raymond, a $44 million six-story building in St. Paul with 220 apartments, is scheduled to be completed this summer with 40-plus floor plans available. Ironically, to make way for this construction, a U.S. Bank branch that occupied the property had to come down.
Related Stories
Student Housing | Dec 7, 2022
Cornell University builds massive student housing complex to accommodate planned enrollment growth
In Ithaca, N.Y., Cornell University has completed its North Campus Residential Expansion (NCRE) project. Designed by ikon.5 architects, the 776,000-sf project provides 1,200 beds for first-year students and 800 beds for sophomore students. The NCRE project aimed to accommodate the university’s planned growth in student enrollment while meeting its green infrastructure standards. Cornell University plans to achieve carbon neutrality by 2035.
Multifamily Housing | Dec 6, 2022
Austin's new 80-story multifamily tower will be the tallest building in Texas
Recently announced plans for Wilson Tower, a high-rise multifamily building in downtown Austin, Texas, indicate that it will be the state’s tallest building when completed. The 80-floor structure will rise 1,035 feet in height at 410 East 5th Street, close to the 6th Street Entertainment District, Austin Convention Center, and a new downtown light rail station.
Multifamily Housing | Dec 6, 2022
Miami-Dade County will allow accessory dwelling units
Commissioners in Miami-Dade County, Fla., recently voted to allow many single-family homeowners to rent out accessory dwelling units on their property. Many homeowners will be allowed to rent out garages, separate quarters, or detached backyard apartments if they meet certain standards including for lot size and parking.
Multifamily Housing | Dec 6, 2022
Support for multifamily rent control legislation grows as metros face big rent hikes
Steep rent increases during the pandemic recovery have spurred support for rent control legislation in several areas of the country.
Mixed-Use | Dec 6, 2022
Houston developer plans to convert Kevin Roche-designed ConocoPhillips HQ to mixed-use destination
Houston-based Midway, a real estate investment, development, and management firm, plans to redevelop the former ConocoPhillips corporate headquarters site into a mixed-use destination called Watermark District at Woodcreek.
Multifamily Housing | Nov 29, 2022
Number of office-to-apartment conversion projects has jumped since start of pandemic
As remote work rose and demand for office space declined since the start of the Covid-19 pandemic, developers have found converting some offices to residential use to be an attractive option. Apartment conversions rose 25% in the two years since the start of the pandemic, with 28,000 new units converted from other property types, according to a report from RentCafe.
Multifamily Housing | Nov 22, 2022
10 compelling multifamily developments debut in 2022
A smart home tech-focused apartment complex in North Phoenix, Ariz., and a factory conversion to lofts in St. Louis highlight the notable multifamily developments to debut recently.
Sponsored | Multifamily Housing | Nov 16, 2022
Commercial Framer Training: Back to Basics for Big Buildings
A glimpse into the most common wood construction framing errors, and how to avoid them, in today’s nonresidential construction industry.
Legislation | Nov 13, 2022
U.S. voters pass numerous affordable housing measures
Voters in many U.S. jurisdictions passed housing measures Nov. 8 that will collectively set aside billions of dollars in new funding to create more affordable housing and provide protections for renters.
