We are fast approaching the end of January and the first month of the new decade.Despite the economic concerns that our industry is experiencing, Benson-Orth Associates has started the year (and decade) with a flurry of activity.There seems to be an ever so slight increase of development discussion and plans in the last few weeks.We are hopeful that owners and developers are starting to sense the recovery and re-evaluate the opportunities ahead of them.
We recently had Ground Breakings on three new projects:
Audubon Crossing – On December 15th we celebrated the Ground Breaking of Audubon Crossing in Northeast Minneapolis, a 30-unit affordable apartment project developed by MetroPlains Development and Families Moving Forward. When completed, Audubon Crossing will provide 26 affordable workforce units and an additional four units available for homeless families.
Kings Crossing and Frogtown Square– In late November we celebrated a Ground Breaking for an exciting new project on University and Dale in the city of St. Paul with Episcopal Homes and NEDU, as co-developers. The two components of the project include 50-units of senior housing with underground parking and a 10,000 SF retail component on main level with on grade parking. We are currently completing site demo and preparation for a February 2010 HUD closing and a hard construction start of early March.
Walgreens - In late January we started building demolition and site preparation for a new 14,820 SF Walgreens store on County Road C and Rice Street in Roseville.The new store with drive-thru is scheduled to be completed by mid-summer at which time the existing Walgreens store on the corner will be demolished and become the new parking lot.We are planning to start a new Walgreens store in Rochester in late February.
In other news...
Earlier in January, Benson-Orth completed two major apartment renovation projects at Park Shadows (150-units) and The Seville (90-units) in Beaumont, Texas for Dominium Management.We are scheduled to turn over in late February a new14,820 SF Walgreens project in Grand Rapids and we will celebrate in early March the Grand Opening of the new Walgreens store in New Prague.
We want to thank you for visitingwww.benson-orth.com.Please call us at 763-545-8826 if you are considering a building expansion or new building project.
Mike Monson, President and CEO
Read recent articles from REjournals.com about Audubon Crossing and Finance & Commerce about Walgreens in our BOA News!!!
