Community Planning & Economic Development

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Marshall River Run

1400 block of Marshall Street NE between the Nygard Dimensions property and Boone Trucking

The Marshall River Run housing proposal calls for a 101-unit rental apartment building with 100 underground parking spaces and 24 surface parking spaces along Marshall Street next to the Mississippi River. Amenities will include: a building security system, laundry facilities on each floor, pre-wiring for the internet, balconies, community rooms, exercise facilities, a library, bike parking and storage, and a gazebo. The building will include 28 one-bedroom units with rents from $719 to 822, 61 two-bedroom units with rents from 1,003 to $1,355, and 12 three-bedroom units with rents at $1,233. The developer has also obtained approval for 16 project-based Section 8 units. The site plan allows public access to the site and toward the river from the neighborhood and will accommodate future connections to public trails and bikeways along the riverfront.

Architect: 

D J R Architecture

Developer:

Sherman Associates and Marchant

Investment and Management Co., Inc.

Financing:

Hennepin Co. Affordable Housing Investment Fund

Hennepin Co. Environmental Response Fund

Housing Revenue Bonds

TIF

City Investment: 

$1.1 million (est.) in TIF

Total Development Cost: 

$13.4 million

Number of Units:

101

Unit Size:

662 to 1,200 square feet

Unit Prices:  

rents $719 to $1,355

Completion Date: 

2005

October 2003

Last updated Oct 28, 2011