In the pipeline

A snapshot of the Southwest condo market

As condo projects begin to sprout up in Southwest, developers are watching the crowded market carefully to make sure their buildings will be successful.

Only a handful of projects are underway so far this summer, but many are planned to start by fall - at least for the time being.

The Lander Group recently changed its plans for condominiums at 38th Street and Nicollet Avenue, deciding to build a commercial development at the site instead. Recognizing a need for rental property, the Ackerberg Group plans to build an apartment complex along the Midtown Greenway.

The Ackerberg group is also working on a couple condo complexes and, like many other developers, doesn't plan to back out of those projects because of an oversaturation fear.

Developer Clark Gassen, president of Financial Freedom Realty Services, said his projects and others that are planned should bring much-needed density to Uptown. Along with the people, he hopes, will come more options for transportation.

Each developer has his/her own vision, building style and offerings. Some developments are selling out. Others are hardly sold.

&#8220This area will always be in high demand,” said Jon Hornig, vice president of Hornig Companies, which is scheduled to start building an environmentally friendly condo building in Uptown this fall. &#8220The right types of projects will be well received.”

Here is an overview of major condo projects under construction or set to break ground soon:

Along the greenway

Loop Calhoun

Developer: Mathwig Development

Address: 3104 W. Lake St.

Buildings: two

Stories: four stories and five stories

Units: 122

Status: construction is underway

Completion Date: April 2007

Status of Sales: 85 units sold

Comments: hardwood floors, Italian kitchens

Website: www.loopcalhoun.com

Track 29

Developer: RMF Group

Address: borders are W. 28th St., the Midtown Greenway, Bryant Ave. S. and Aldrich Ave. S.

Buildings: seven

Stories: one two-story town home, one four-story condo

Units: 54 town home units, 71 condos

Status: construction is underway

Completion Date: first units Sept. 2006, final Jan. 2008

Status of Sales: 10 town homes sold, 34 condos reserved

Comments: Italian kitchens, hardwood floors

Website: www.track29uptown.com

Calhoun City Apartments

Developer: Ackerberg Group and Village Green Companies

Address: 3100 W. Lake St.

Buildings: one

Stories: four stories plus mezzanine

Units: 160

Status: scheduled to begin mid-July

Completion Date: fall 2007

Status of Sales: N/A

Comments: N/A

Website: N/A

Greco Real Estate

Development (unnamed)

Developer: Greco Real Estate

Development

Address: between Lake Street and the Greenway and Lyndale and Bryant avenues

Buildings: five

Stories: four to 10

Units: 400

Status: seeking city approval, construction planned for next spring

Completion Date: summer 2008

Status of Sales: N/A

Comments: will include 70,000 square feet of office space and 25,000 square feet of retail space. The development could include a 100-room hotel. Residential will include affordable and market-rate housing for sale and rent.

Website: N/A

Mozaic

Developer: CAG Development and Ackerberg Group

Address: Lagoon and Girard Avenues

Buildings: three

Stories: three, seven and 10

Units: 140

Status: construction scheduled for fall 2006

Completion Date: 2008

Status of Sales: more than 100 units sold

Comments: will include 17,000 square feet of ground-level retail and restaurant space, 40,000 square feet of office space, an 800-stall parking facility, 1,600-seat Landmark Lagoon Cinema, 23,000-square-foot public plaza and a pedestrian bridge over the Midtown Greenway. The greenway will be connected to the development.

Website: www.uptownmozaic.com

By the lakes

The Edgewater

Developer: CAG Development

Address: 1805 W. Lake St.

Buildings: one

Stories: six

Units: 22

Status: underway

Completion Date: building will be complete this week and construction of individual units will begin

Status of Sales: four units remain

Comments: All but four units will be custom designed by owners

Website: www.gatewaytouptown.com

2626

Developer: Lander Group

Address: 2626 W. Lake St.

Buildings: four

Stories: three, four, six and seven

Units: 46

Status: demolition and construction planned to begin fall 2006

Completion Date: spring 2008

Status of Sales: public launch Aug. 2006, 10 private offers confirmed

Comments: will include 2,000 square feet of commercial space, lake and Downtown views, 50 percent of units to be custom designed by owners.

Website: www.landergroup.com/cur_2626.html

in midtown

Le Parisien Flats

Developer: Velocity Investments

Address: 2301-2309 Lyndale Ave. S.

Buildings: one

Stories: five

Units: 13

Status: construction is underway

Completion Date: fall 2006

Status of sales: seven units reserved

Comments: no hallways, cathedral ceilings more than 28-feet tall, wine bar, courtyard, acoustic engineering

Website: www.leparisienflats.com

In uptown

Lumen on Lagoon

Developer: CAG Development and Ackerberg Group

Address: 1201 Lagoon Ave.

Buildings: one

Stories: five

Units: 44

Construction Status: underway

Completion Date: April 2007

Status of Sales: 60 percent sold

Comments: The first floor will have 11,000 square feet of office and commercial space.

Website: www.lumenonlagoon.com

The Portico

Developer: Hornig Companies

Address: 1601 Lagoon Ave. S.

Buildings: one

Stories: six

Units: 30

Status: demolition and construction scheduled to begin this fall

Completion Date: fall ‘07

Status of Sales: marketing w/in week

Comments: Leadership in Energy and Environmental Design (LEED) certified, meaning it's an environment-friendly building.

Website: N/A

lyndale neighborhood

3310 Nicollet Condominiums

Developer: Prima Lands

Address: 3310 Nicollet Ave. S.

Buildings: one

Stories: four

Units: 35

Status: complete

Completion Date: May 1

Status of Sales: four units sold

Comments: free bike and bus pass offered to buyers, two units have 80-foot terraces

Website: www.3310nicollet.com

Know of a Southwest residential development we didn't list? Contact reporter Jake Weyer at

612-436-4367 or jweyer@mnpubs.com. We'll be compiling a Southwest Journal condo watch soon.

Reporter Jake Weyer can be reached at 612-436-4367 and jweyer@mnpubs.com