Groundbreaking Ceremony Marks Start Of Development For New Apartment Complex In Golden Valley
September 26, 2013
After one year in the planning stages, the Arcata apartment development on the southeast corner of Xenia Ave and Golden Hills Dr, next to the Colonnade in Golden Valley, is officially under construction.
The groundbreaking ceremony with members Trammell Crow’s development team and City officials occurred Wednesday, Sept 25. Construction is scheduled for competition late-spring 2014, with leasing beginning in about a month.
“This is a big deal,” says Golden Valley City Planner Joe Hogeboom. “This marks the completion of the development of the Colonnade site. It’s also great for the redevelopment goals of the I-394 corridor.”
The 173-unit complex will be six stories and include a courtyard with an outdoor pool.
Originally, when the Colonnade was built in the late 1980s, the Arcata spot was planned for a hotel, and it has been in the development eye since then, says Hogeboom. Development for the apartment received final approval from the Golden Valley City Council earlier this summer.
Looking To The Future Of Development
The Twin Cities have traditionally been underserved with the existing number of market-rate, high-density housing units, Hogeboom says. “The Metro Area was saturated with single family homes and under-built when it came to apartments, so the market is correcting itself.”
Beginning in 2008, Minneapolis and St Paul proper started to see an increase in apartment construction as more people chose to live maintenance-free.
These construction trends began to move to the first-ring suburbs, with St Louis Park, Edina, Richfield, and Bloomington all experiencing large growths in high-density housing. Most high-density housing under construction, including the upcoming developments in Golden Valley, include amenities like exercise rooms, party rooms, washer/dryer in each unit, bike storage lockers, roof-top patios, etc.
Providing increased housing options for young families as well as for seniors is a goal of the Golden Valley’s Comprehensive Plan, Hogeboom says.
“This is positive for the community,” he says, “because it helps keep people in the city while bringing new residents to the area by providing a wider variety of housing options.”