“We believe Dock Street will prove to be a sound investment for our investors,” Kevin McCarthy, representing the AFL-CIO Building Investment Trust, said of the Dock Street residences, located at 333 Washington Ave. N.
“The property is well located in the heart of the Washington Avenue entertainment corridor and at the nexus of Minneapolis’ public transit system.”
Following a high-density, transit-oriented development philosophy, the six-story complex will include 185 market-priced rental units, 3,000 square feet of retail space and a two-level parking garage.
As with all Building Investment Trust development projects, construction will be performed by union workers affiliated with the local building and construction trade unions.
“I am sure I speak for all building trades workers – and other Minnesota union workers for that matter – when I say we welcome new development from the BIT,” said Dan McConnell, business manager of the Minneapolis Building and Construction Trades Council. “The BIT is reinvesting union members’ pension capital back into projects that create good union jobs with great benefits and working conditions.”
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| Officials broke ground for the Dock Street Apartments in downtown Minneapolis near Target Field. |
The Dock Street residences represent the second recent Building Investment Trades investment in Minneapolis. The $38 million Flux Apartment complex, which was completed in April, is already fully leased.
“I have been working with the BIT for a long time now in Minnesota,” said Harry Melander, president of the Minnesota State Building and Construction Trades Council. “They have invested over $100 million in our state and created hundreds of union construction jobs.”
The Dock Street project is part of a larger development plan for the area called North Loop Green, and will include other for-rent residences, retail space and offices. Construction of the property is scheduled to be completed in the fall of 2013.
Dignitaries attending the Sept. 19 groundbreaking included Mayor R.T. Rybak, City Council President Barb Johnson and representatives of Hines, a privately owned real estate firm involved in the project.
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“We believe Dock Street will prove to be a sound investment for our investors,” Kevin McCarthy, representing the AFL-CIO Building Investment Trust, said of the Dock Street residences, located at 333 Washington Ave. N.
“The property is well located in the heart of the Washington Avenue entertainment corridor and at the nexus of Minneapolis’ public transit system.”
Following a high-density, transit-oriented development philosophy, the six-story complex will include 185 market-priced rental units, 3,000 square feet of retail space and a two-level parking garage.
As with all Building Investment Trust development projects, construction will be performed by union workers affiliated with the local building and construction trade unions.
“I am sure I speak for all building trades workers – and other Minnesota union workers for that matter – when I say we welcome new development from the BIT,” said Dan McConnell, business manager of the Minneapolis Building and Construction Trades Council. “The BIT is reinvesting union members’ pension capital back into projects that create good union jobs with great benefits and working conditions.”
|
| Officials broke ground for the Dock Street Apartments in downtown Minneapolis near Target Field. |
The Dock Street residences represent the second recent Building Investment Trades investment in Minneapolis. The $38 million Flux Apartment complex, which was completed in April, is already fully leased.
“I have been working with the BIT for a long time now in Minnesota,” said Harry Melander, president of the Minnesota State Building and Construction Trades Council. “They have invested over $100 million in our state and created hundreds of union construction jobs.”
The Dock Street project is part of a larger development plan for the area called North Loop Green, and will include other for-rent residences, retail space and offices. Construction of the property is scheduled to be completed in the fall of 2013.
Dignitaries attending the Sept. 19 groundbreaking included Mayor R.T. Rybak, City Council President Barb Johnson and representatives of Hines, a privately owned real estate firm involved in the project.