Developed by High Street Residential, Junction Flats is a 6-story apartment building on a 1.37-acre site. The development consisted of studio, 1-bedroom, 1-bedroom plus den, 2-bedroom and live/work units. Residential unit amenities include 9-foot ceilings, balconies/patios, granite countertops, stainless steel appliances, washer and dryer in units. Building amenities include outdoor pool, covered heated parking, outdoor Bar and Grill, Art Gallery, Four Season Clubroom, Top Level Sky Lounge with Sky Deck, Coffee Lounge, Fitness Center, Yoga and Spin Studio, Guest Suite, Dog Run and Dog Spa.
The site is located only 200 FT from The Interchange / Target Field Station - a multi-modal transit station that opened in the summer 2014 to serve as a central hub for all regional transit including light rail, commuter rail, buses and bicycle and pedestrian traffic and connecting Downtown Minneapolis to Downtown St. Paul, the airport, and the Mall of America. Target Field Station started its service in June 2014, as Junction Flats opened its doors for occupancy in August 2014.
Opportunity, Solutions & Outcomes
High Street Residential sold Junction Flats in November of 2014 to Greystar Real Estate Partners for $49 million at 50 percent leased.