A couple days ago, the Star Tribune reported that more development plans have been submitted to Edina, focusing on an area across the street from Southdale Mall. At 69th and France Ave, the area is currently housing a couple of banks which would find new spaces in the proposed development, if approved. The plans for Estelle Edina are primarily focused on a currently very hot and low-supply item in the cities: condos. Two attractive high-rises (proposed 24 and 20 story buildings) would have a maximum of 4 condos per floor, with some larger floorplans towards the top (aka the penthouse). The plans also include a handful of “brownstone” condos, retail space and a restaurant. One of the developers involved in the project said the goal is to make it feel like its own community – in other words, #walkable. Of special note regarding Estelle Edina, our firm, Lakes Sotheby’s, is serving as broker. In fact, Sotheby’s has been the market leader for recent Edina development, having also served as broker for the Westin condos just down the street a few years back.
We see this type of development as very favorable for the viability of the area, not that it needs a ton of help, but there have been many projects of late that have helped keep the area relevant. Estelle Edina is of course playing its hand towards the growing demand for condos. There are very few available condo units in Edina, and it’s an appealing area for many retirees and even young professionals. Another hub of activity in the city is getting room for more retail, housing and parking: 50th and France. The Star Tribune recently reported the city’s approval of the development plans. “Where is there room for more?”, you might ask. Well, there’s an area just north of the popular intersection with a bit of a Harry Potter ring to it: W 49½ St. In contrast to the proposed development near Southdale, this one includes apartments. Without a doubt, however, both projects are geared towards people desiring the conveniences of city living, with plenty of amenities within an easy walk’s reach.
To top it all off, the Star Tribune also reported on the possibility of Life Time Fitness taking over the JCPenneys retail space at Southdale Mall. To be sure, malls need all the help they can get in the age of online shopping. This luxury gym would certainly fit in with nearby Galleria and the proposed swanky condos. As stated in the article, this idea is still in the works, having not yet gained all the necessary approvals. We’d bet that rooftop pool would have many local residents considering a switch over to Life Time if it all goes through.
So, it appears that Edina is making every effort to stay relevant and in-demand. We enjoy having our office in the Galleria and seeing the transformations take place. It’s an exciting, bustling area and city planners have done good work when it comes to the recent projects. If you’re looking to make your move in the near future, or even further down the road, let’s get together and hash it out. We can help make it happen. By phone (952-258-3100) or email, we’re always available.