New Apartment Building with Retail Sets the Stage for Minnetonka Growth

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Photo courtesy of Paster Properties

Have you been over by Ridgedale lately?

Across the street from TCF Bank and Wells Fargo, there is a new building that stands out quite a bit from the rest of the area.

The Residences at 1700 opened up in February and looks to be the start of many developments coming to the Ridgedale area over the next 15 years.

After the City Council originally denied the plans for the building in October of 2014, the plans were ever-so-slightly adjusted and unanimously approved just 2 months later.

Here are some of the details about the building:

  • 15,850 square feet of retail on the ground floor including Highland Bank, Caribou Coffee and Einstein Bagels store, and Greenfield Natural Kitchen
  • 115 apartments (one and two bedroom)
  • 2 levels of underground, heated parking for residents
  • Indoor clubhouse and fitness center
  • A really-cool-looking outdoor deck with a swimming pool that is currently under construction (see photo below)
The Residences at 1700 Sun Deck
Photo courtesy of 1700apartments.com

From the Residences at 1700’s website, it looks like monthly rent ranges from around $1250 for studios to $2350 for a 2-bedroom (many of their floor plans do not have pricing listed).

A Transformation is Coming to Minnetonka

This new mixed-use development project plays right into the city’s plans for transforming the Ridgedale area into a community gathering spot which may include the likes of a high-end movie theater, new restaurants, more trails, and more green space.

One thing we know for sure is that Millennials and empty-nesters are moving into more urban areas — and that doesn’t just mean downtown Minneapolis and St Paul. Think of how Southdale in Edina and The West End in Saint Louis Park have evolved.

Ridgedale is well-known, but the question is why? I expect there will be many answers to that question within the next couple of years.

 

We would love to hear feedback from tenants of the building, as well as from residents of Minnetonka that opposed the building.