New student-oriented apartments may be coming to Seven Corners.
Minneapolis-based developer, Alatus LLC, proposed turning the 1810 S. Washington Ave. lot into a 260-unit apartment complex at the March West Bank Community Coalition meeting, according to Michael Schmitz, then-WBCC executive director.
The company wouldn’t comment on any specifics of the project.
“We’re in due diligence at this point, listening to the community and exploring ideas,” said Bob Lux, Alatus’ founder. “As this moves along, we’ll make an announcement at the appropriate time.”
But according to Schmitz, Carl Runck, Alatus’ project developer, said at the meeting the six-story building would have 300 beds total and would be primarily focused toward students.
The building would be constructed on the site of the old Grandma’s Saloon and Grill, Schmitz said. Alatus currently owns the property.
The apartments would start at $1,100 for a studio and $2,000 for a two-bedroom, Schmitz said. According to 2009 Census data, the average rent for a Cedar-Riverside resident was $433.
The West Bank is a great location for new developments, said Tim Harmsen, owner of Dinkytown Rentals.
“The houses are just getting too old,” he said, “and people have to do something.”
The project caused some concern at the meeting, Schmitz said.
The apartment building would contain 85 parking spots on ground level, which would require the demolition of half a nearby parking ramp, taking away community parking, he said.
But Alatus is still in the early stages of development, Runck said. The company has yet to officially seek city approval to begin construction.
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