New Rental Apartments Coming to Minnetonka

Posted by
May 16, 2011

The developer of the Sunset Hill Apartments has come one step closer as he has received several preliminary approvals from the Minnetonka City Council.  The project is a 64 unit, 4 story building on the northeastern corner of Wayzata Boulevard and Sunset Drive S.  It was previously the building that was Gehrman Animal Hospital, that moved to newer facilities, many years ago.  The building and a neighboring single family home would be removed to combine the site into one lot.

Duffy Development is the lead developer on this project and is asking the city for up to $1 million on tax increment financing.  This request has already been approved by the Minnetonka Economic Development Advisory Committee.  The project is also requesting financing from Hennepin County because the apartments would be located next to Two Metro Transit bus routes that would allow the residents to ride the bus to work, increase ridership and decreasing traffic.  These units would help Minnetonka toward its goal of creating 383 affordable housing units by 2020.

The City of Minnetonka officials are pushing to have 48 of the 64 units reserved for low to moderate-income households.  This would translate into about 60% of the area’s media household yearly income.  The building would be made up of 11 one-bedrooms, 32 two-bedrooms, and 21 three-bedroom units.  Additionally, 4 of the units would be set aside exclusively for families coming out of homeless shelters with assistance from the Salvation Army.  Some of the energy needs for the building will be supplied by 24 solar panels on the roof which will heat the water for the resident’s use.

At the May 2 City Council meeting, the project was granted a change to the City’s comprehensive plan to accommodate the land-use change for this project.  The council is expected to approve the building plans and master development plans at its next meeting with Final approvals to occur the meeting after that.  Duffy will need to finalize its financing and plans before breaking ground.

 

I am a licensed Realtor in the State of Minnesota. This website is not a multiple listing service, but each Minnesota & Minneapolis real estate agent is a member of the Regional MLS of MN, inc., a provider of the Minnesota MLS.

Lake Minnetonka News

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