Doran: All U-area projects up for sale

Developer Kelly Doran is selling five of his apartment complexes near the University.

Anne Millerbernd

After opening doors of luxury apartment complexes to University of Minnesota students for nearly four years, prolific developer Kelly Doran put five of his projects up for sale.

Doran’s development firm, Doran Cos., is selling through Cushman and Wakefield, which posted a marketing flyer for five of the company’s properties near campus. One complex, the Bridges, is still under construction and opening this fall.

The selling list also includes the Knoll, 412 Lofts, the Edge on Oak and the Sydney Hall and Dinkydome properties from the Dinkytown and Stadium Village areas.

Combined, the properties include 619 units and about 1,100 bedrooms, according to the marketing flyer.

Doran projects will have added nearly 900 units to the University’s area by this fall.

Last year, Doran told the Minnesota Daily he would slow down development in the University’s area after he completed the Bridges project.

Doran was one of the first developers to take advantage of the University’s luxury housing market when he broke ground on Sydney Hall in 2009. He has been responsible for building at least one new luxury housing property on campus every year since the project’s finish.

As Doran developments have progressed, controversy has followed.

Dinkytown community members protested the original plan for a 14-story Sydney Hall complex in 2009 because of its height. Doran went with a 6-story plan instead.

And in January, Doran sought to build a Dinkytown hotel in the space now occupied by businesses like Mesa Pizza, but the Minneapolis City Council denied the permit. Now, that project is on hold until the city completes a study meant to determine whether buildings in the area are worth a historical designation.