By Gabriel Circiog, Associate Editor<\/p>\n
With around 49,000 students attending the University of Minnesota and residence halls able to accommodate only about 6,000 of them, it seems likely that a new student housing project could prove successful. Accordingly,\u00a0Finance & Commerce<\/em> reports that Minneapolis-based CPM Development is planning student housing and retail on a two-acre property it has under contract near the University of Minnesota campus.<\/p>\n Located near a future light-rail transit stop and the TCF Bank Stadium, the site incorporates four parcels of property: 1016 Washington Ave. S.E., 1024 Washington Ave. S.E., 1032 Washington Ave. S.E. and 1025 Delaware St. S.E.<\/p>\n Nick Walton, a\u00a0CPM Development owner, said the project will feature retail space on the first floor and student housing above, although he could not yet provide a specific number of housing units or retail square feet. He did, however, note that a lot of retailers have expressed interest in the site, which is practically the gateway to Stadium Village.<\/p>\n Doran Cos. vice president of development Jim LaValle revealed that his company also bid on the site around a year ago. He estimated that the site, currently home to an Arby\u2019s restaurant,\u00a0could house between 200 and 250 units.<\/p>\n CPM Development was also involved in the 1800 Lake project, a 57-unit luxury apartment building close to Lake Calhoun that was finalized last fall.\u00a0Although there are three other student housing projects within two blocks, with a total of 260 units under construction, Walton is convinced the project will be a success.<\/p>\n","protected":false},"excerpt":{"rendered":" By Gabriel Circiog, Associate Editor With around 49,000 students attending the University of Minnesota and residence halls able to accommodate only about 6,000 of them, it seems likely that a new student housing project could prove successful. Accordingly, Finance & Commerce reports that Minneapolis-based CPM Development is planning student housing and retail on a two-acre property […]<\/p>\n","protected":false},"author":264,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36076,21742],"tags":[1815],"class_list":["post-1004052624","post","type-post","status-publish","format-standard","hentry","category-minneapolis-st-paul","category-latest","tag-national"],"acf":[],"yoast_head":"\n