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Lund Real Estate Partners has proposed a 17-story residential tower near the Galleria in Edina, on the site of a 12K SF Guitar Center.
The developer submitted plans to Edina city planners just ahead of the holidays, and the city's planning commission is expected to take up the proposal in early January. ESG Architects of Minneapolis designed the project.
The 170 rental units would but be aimed at well-to-do baby boomers who are in the process of downsizing their accommodations, the Star Tribune reports.
“As recent empty-nesters, we have each witnessed our friends and neighbors leave Edina for perhaps a condo at the Carlyle in Downtown Minneapolis or an apartment at the Lakes on Calhoun," Lund Real Estate Partners founder Tom Lund wrote in the proposal. "Not always by choice.”
Lund was vice president of development for the Opus Group from 1997 to 2013. He co-founded Illinois-based Harbor Bay Real Estate Advisors and then left that company in mid-2017 to start Lund Real Estate Partners.
Provided the project obtains the necessary approvals, it would start in late 2018 and be completed 18 to 20 months later.
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