Community Planning & Economic Development

Phone: (612) 673-5095
Contact Us

Ivy Tower

1115 Second Avenue South

The Ivy Tower project consists of a full historic restoration of the building and the development of 89 condo residential units, a 131 room hotel, 156 underground parking spaces, and commercial redevelopment with supportive skyway connections.

Ivy Tower was built in 1930 as the administration building for the Second Church of Christian Scientists, serving this purpose for a number of years. The building has local historic designation.

Developer:

Ivy Tower Minneapolis LLC

Financing: 

$27 million private financing

$7 million developer equity

$.7 million in clean-up grants

$11.5 to $12.5 million Tax Increment Financing

Total Development Cost: 

$46.2 to $47.2 million

Restoration Start Date:

2006

Expected Completion: 

2008

Contact:

CPED Project Coordinator Beth Grosen (612) 673-5002.

Information subject to change

Updated January 2008

Last updated Oct. 28, 2011