If you take the Snelling exit off I94 in St. Paul, you’ll enter an area that has seen and is in the midst of major transformation. The most obvious example currently is the large chunk of land immediately north of the freeway that has been torn apart, the beginning pieces of a major league soccer stadium put in place. Minnesota United FC has a happy future to look forward to at Allianz Field, and investors are inevitably following the scent of devoted fans with fat pockets, just waiting to be emptied. We’ve shared before how city planners have envisioned a mixed-use development next to the stadium that would likely include shopping, housing, entertainment and office-space. Well, the Star Tribune reported that a newer mixed-use development just south of the stadium site, on the other side of 94, sold to a major outside investor for $87M. The development, dubbed the Vintage on Selby, maintains an upscale vibe throughout, while catering its amenities to well-off professionals. Starting with Whole Foods on the ground floor of the development, there’s also a concierge, rooftop lap pool, yoga and fitness studios, and a natural turf backyard. Oh – and there’s a dog park for those beloved pets. That’s all on top of the standard (high class) club room, gourmet grills, and climate-controlled parking ramp that every discerning apartment shopper has come to expect.
The Vintage on Selby is changing hands less than 2 years after opening. The fact that the investment is coming from a major firm like Zurich North America, headquartered just outside of Chicago, supports the notion that the Twin Cities has a bright and prosperous future. And it’s more than just Minnesotans saying it! The major investment will certainly encourage developers considering any potential projects in the area. Might we add – the Green Line is doing its fair share in transforming the St. Paul landscape. Without it, there would be no MLS stadium, no major beacon of economic activity in the Midway neighborhood (aside from the State Fair, of course).
We’d also like to point you to this hilarious article in the Star Tribune entitled, “Why are some new Twin Cities apartment building names so pretentious?” Along with names referenced in the article, “the Arrive”, “the Era”, and “the Revel”, “the Vintage” is a pretty funny name for an apartment complex. If it were me, I’d shy away from sharing the actual name of the apartment, instead referring to its location – “You know, the one right above Whole Foods in St. Paul.” When you come to think of it, it’s probably a good thing that people generally don’t name their homes (unless they’re on the historic register), lest we find ourselves having to negotiate over “the Haven” or “the Marquee”. Let’s stick to addresses, folks. As always, if you’re in the market for a new home, please call 952-258-3100 or email.
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