THE SHOPS AT 1700 & RESIDENCES AT 1700

Location: Minnetonka, Minnesota



Size: 155,000 sq. ft.



Owner: 1700 Plymouth LLC (a joint venture, including co-developers Paster Properties LLC and Bader Development LLC)



Key Tenants: Signed lease with Highland Bank, and currently in negotiations with several retailers



Other uses/components: 115 Market Rate Apartments (five levels), 16,000 sq. ft. of ground-floor retail shops, two separate drive-throughs for retailers



Status: Construction activities began in August 2015, and the development is scheduled to open in early 2017. The developers will be moving Highland Bank into a temporary operating facility on the project site during the construction period to ensure the bank can remain open for business.



This development is introducing a blend of commercial and multifamily residential space to a regional mall area that is primarily dominated by retail and office use. The mixed-use project will include multi-tenant retail space on the ground floor and 115 luxury apartment units featuring oversized windows and generous balconies. Amenities will include heated underground parking, an elevated outdoor pool deck, lounge areas, a fire pit, an indoor clubroom and fitness center. Two levels of underground parking with 190 stalls will be provided for the apartment residents, and 80 surface parking stalls will serve retail uses. Furthermore, this project will feature two separate drive-throughs, one that will be utilized by Highland Bank and the other that will be designated for a future retailer.