Roseville Gets a New Development
Wednesday, September 11, 2019
A temporary storage location for trailers will soon become Roseville’s newest development site. In May of this year, the Roseville Economic Development Authority approved financial assistance to redevelop a five-acre parcel at 2720 Fairview Avenue to include an apartment building and a medical office building.
Market-Rate Apartments and Class A Office Space
Reuter Walton, a Minneapolis-based commercial development and construction company is the company behind the development. The parcel is zoned for mixed-use with plans to include a 117-unit apartment building as well as 40,000 square feet of Class A office space.
Roseville has not had a new market-rate apartment building built in over 25 years. In fact, the Maxfield Research Comprehensive Housing Needs Assessment, completed in 2018, identified market-rate general occupancy rental housing as one of the top eight priorities for Roseville. Plus, the report identified prioritizing mixed-use redevelopment sites.
“This is a strong housing site,” said Kyle Brasser from Reuter Walton. “It allows easy access to major roads and will be a great option for many families and professionals who work in Roseville or commute to other areas of the Metro.”
The apartment building will sit on the north end of the parcel and will include one floor of underground parking. The apartments will range in size from 1,000 square-feet studios to 2,000 square-feet 3-bedrooms. They hope to include an outdoor pool and play area.
A medical office is proposed for the south end of the parcel, and Tareen Dermatology plans to occupy 20,000 square feet of that space on the main floor of the building.
Along with their current Roseville location, Tareen also has an office in Maplewood and Faribault. They would like to keep their presence in Roseville but have outgrown their current location. Tareen plans to see patients at this new location and make the site the clinic’s headquarters, absorbing central accounting and other administrative functions at their other two locations. As a result, the Roseville location will add an additional 40 employees to the 60 that currently work at the Roseville office.
“This has been our first experience working with the City of Roseville,” said Brasser. “They have a robust team that provided great guidance during the planning phase of this project and provided valuable input on the economic development impact this project will have.”
The target completion date is the fall of 2020.