A new sustainable housing option may soon break ground in a nearby University of Minnesota neighborhood.
Green on Fourth is a proposed six-story apartment complex that would be located in Prospect Park on 29th Avenue Southeast and University Avenue. The building would be green energy focused and include a mix of market-rate and affordable housing.
A prior developer had proposed a similar apartment complex before the location was bought by Prospect Park Properties said Jeff Barnhart, PPP property manager.
The proposal would complement an already approved plan to redesign 4th Street as a pedestrian walkway filled with greenery and renewable energy innovations.
Minneapolis city planner Peter Crandall said the building’s proximity to the light rail would likely be a major draw for potential residents.
The apartment would also be located near a storm water system that collects, recycles and treats storm water for irrigation and industrial purposes.
In the proposal, one part of the building overlooks the nearby storm water garden, which soaks up rainwater in lieu of run-off.
Barnhart said these innovations are what make the Green on Fourth Apartments project unique.
“The city actually declared this to be an innovative district,” said Minneapolis Ward 2 City Council Member Cam Gordon. “It’s another step of development for the next five to ten years.”
There is a growing push to move into the Prospect Park area because of its proximity to the city, he said, adding that the closer commute allows environmentally-minded residents to reduce driving emissions.
Gordon also said affordable housing options in the building would help address the shrinking housing stock in the city.
“We’ve been losing affordable housing,” Gordon said. “It will give people who are not as affluent some housing.”
The 294,000 square feet project is expected to begin construction this summer and end in fall 2018.
