Community Planning & Economic Development

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Marquette Block

Hennepin Avenue East between University Avenue Southeast and Second Street Southeast

The city acquired the Marquette Block in the early to mid-1980s in anticipation of a planned Phase II of the Riverplace development. This development contains five historic buildings fronting Hennepin Avenue, which have been renovated for street-level commercial space with apartments above, plus a public parking lot and 20 luxury townhomes.

Architect: 

Paul Madsen and Associates

Developer:

Brighton Development Corporation

Private Financing:

First Bank Conventional

City Investment:

Development Account Loan

 

Historic Tax Credits

 

Low Income Housing Tax Credits

Total Development Cost:

$6,000,000

Number of Units: 

20

Number of Affordable Rental Units:

20

Average Selling Price:

$230,000

Unit Sizes:

Studio and 1 bedroom

Projected Real Estate Taxes: 

$133,000

Construction Completed:

1996

Contact:

CPED Project Coordinator Sharrin Miller-Bassi (612) 673-5019.

Information subject to change.

November 1999

Last updated Oct. 28, 2011