By JD Duggan, Finance & Commerce, April 11, 2022
After COVID delays, the “live, work, play, stay” Pentagon Village development is seeing some movement with the upcoming construction of apartments.
Co-developers Solomon Real Estate Group and Rise Modular will break ground Thursday for the six-story, 202-unit Pentagon Village Apartments. The construction is part of the greater Pentagon Village development, a 12.5-acre mixed-use district at the southeast corner of Highway 100 and West 77th Street in Edina.
Jay Scott, principal with Solomon, reached out to Minneapolis-based Rise Modular to help develop the apartments, which will be the largest commercial modular project in the state. The company is constructing five stories off-site that will be set over a one-story concrete foundation.
“The vision for Pentagon village really was a ‘live, work, play, stay’ kind of development where we could incorporate a number of different elements that would complement one another … and yet bring something new to that area of Edina,” Scott said.
Development of the apartments is expected to cost about $50 million, and the apartments are expected to open for tenants in April of next year, Scott said.
One-tenth of the units will be affordable to households making 50% of the area median income, with the rest at market-rate. Units will be a mix of studio, alcove and one- and two-bedroom apartments. An attached 142-stall parking garage will also be constructed, and another parking garage already exists within Pentagon Village.
The apartments will feature a lobby with coworking stations, a club room, a fitness center and yoga studio, bike storage, makers spaces and an outdoor pool.
The area has traditionally been older office buildings, but some big redevelopment is underway. Pentagon Village’s master plan includes a hotel, retail space, office space and the apartments.
“The whole area is really in a state of transformation,” Scott said. “This is the front door for Edina on their west side of town. So it’s important to them that they had the right image coming into town from that side.”
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