Community Planning & Economic Development

Phone: (612) 673-5095
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TownePlace Suites

Second Street North between Fifth and Seventh Avenues North

The two-building development by CSM Development Corp. is located in North Loop district of downtown rail yards. CSM built a 146-room extended-stay hotel along with 40 units of affordable rental housing, as well as 108 underground public parking spaces with some surface parking. The apartment building serves two income levels: Of the 40 units, eight are affordable to those at 50 percent median income and the remaining 32 units are affordable to those at or above 80 percent of median income. Eight one-bedroom units are affordable and 32 units are market-rate. CSM Corporation has designed the two four-story buildings, built atop the parking facility, to fit with the architecture of the neighborhood.

Developer:

CSM Development Corporation

Financing: 

private and public

City Investment:

$2.3 million tax-increment financing

Total Development Cost: 

$15 million

Development:

146-room extended stay hotel, 40 affordable housing units, 24 one-bedroom units and 16 two-bedroom units.

Site Size: 

106,618 square feet

Construction Began: 

1999

Completed: 

2000

Contact:

CPED Project Coordinator Jim Forsyth (612) 673-5179.

Information subject to change.

October 2001

Last updated Oct 28, 2011