{"id":1004206962,"date":"2018-02-14T02:12:42","date_gmt":"2018-02-14T10:12:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004206962"},"modified":"2022-12-08T20:46:53","modified_gmt":"2022-12-09T04:46:53","slug":"market-street-redevelopment-gets-54m-in-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/market-street-redevelopment-gets-54m-in-financing\/","title":{"rendered":"Market Street Redevelopment Gets $54M in Financing"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004206965\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Market-Street-Redevelopment-Edina-Minn..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004206965\" data-attachment-id=\"1004206965\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/market-street-redevelopment-gets-54m-in-financing\/market-street-redevelopment-edina-minn\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Market-Street-Redevelopment-Edina-Minn..jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Jeffrey Hamann&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1518540611&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Market Street Redevelopment, Edina, Minn.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Market Street Redevelopment, Edina, Minn.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Market-Street-Redevelopment-Edina-Minn..jpg?w=800\" class=\"wp-image-1004206965 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Market-Street-Redevelopment-Edina-Minn..jpg\" alt=\"Rendering of the Market Street redevelopment, Edina, Minn.\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Market-Street-Redevelopment-Edina-Minn..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Market-Street-Redevelopment-Edina-Minn..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/02\/Market-Street-Redevelopment-Edina-Minn..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004206965\" class=\"wp-caption-text\">Rendering of the Market Street redevelopment, Edina, Minn.<\/p><\/div>\n<p>A joint venture between Buhl Investors and Saturday Properties has obtained $54.1\u00a0million in construction financing for its <a href=\"https:\/\/www.commercialsearch.com\/news\/nkf-to-market-3-3-msf-twin-cities-development\/\">mixed-use development<\/a> in Edina, Minn. Dougherty Funding\u00a0acted as a placement agent for the loan. The city council approved the $79 million Market Street project in April 2017, according to\u00a0<em>StarTribune<\/em>. The construction of a parking structure is now underway at the site, according to the City of Edina\u2019s economic development office. Full completion is expected by September 2019.<\/p>\n<p>The six-story building, located near the corner of West 50th Street and France Avenue South, will include 100 luxury rental units\u00a0taking up five floors and set above 33,000 square feet of street-level retail. A subterranean parking structure containing 143 parking spaces will serve the building\u2019s residents, according to Yardi Matrix. The development will replace a parking structure and an adjacent vacant lot.<\/p>\n<p>The property will be situated on the site of a vibrant retail corridor, home to Edina Cinema, Walgreens, Anthropologie and a variety of smaller retailers along both 50th Street and France Avenue. The development site falls within ten miles of central Minneapolis, accessible via the city\u2019s MetroTransit bus system.<\/p>\n<p><em>Image courtesy of Dougherty Funding<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The suburban Minneapolis mixed-use project will contain 100 luxury apartments set atop 33,000 square feet of street retail and a parking structure.<\/p>\n","protected":false},"author":861,"featured_media":1004206965,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,13,36076,21752,21742],"tags":[39118,39113,39119],"class_list":["post-1004206962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-midwest","category-minneapolis-st-paul","category-mixed-use","category-latest","tag-buhl-investors","tag-dougherty-mortgage-llc","tag-saturday-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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