RISE Modular and Enterprise Community Partners Break Ground on Mixed-Use, Opportunity Zone Development in North Minneapolis
RISE Modular and Enterprise Community Partners celebrated the groundbreaking of Glenwood Apartments, a mixed-use, Opportunity Zone redevelopment featuring 127 apartments, commercial space and community retail. Located in the heart of Minneapolis’ Harrison neighborhood, Glenwood Apartments will offer both market-rate and workforce housing with 65 units (51%) available to those at 80-percent area median income, including 10 units (8%) available to those at a 60-percent area median income. RISE CEO Christian Lawrence credits both the benefits and efficiencies of its modular product and its partnership with Enterprise for bringing a unique project like Glenwood to the market.
“Glenwood Apartments will be the largest modular project built in the city of Minneapolis and one of the most architecturally significant modular projects in the country, but you won’t know that once it is completed,” said Lawrence at the groundbreaking celebration. “Our partnership with Enterprise has made this great diversity of units possible. Glenwood Apartments is truly innovative and one of the first projects of its kind in the Twin Cities.”
Enterprise Community Partners is a national non-profit located in New York. Since 1983, Enterprise has invested more than $54 billion with community development partners, and together they have created more than 873,000 homes for those that need them the most in all 50 states as well as Washington DC and Puerto Rico.
“We are excited to partner with RISE Modular on Glenwood Apartments to bring innovative, environmentally friendly, and affordable housing opportunities to the Harrison neighborhood,” said Chris Herrmann, Senior Vice President of Enterprise Real Estate Equity. “Enterprise’s focus is on building homes and communities that are places of pride, power and belonging.”
Minneapolis Mayor Jacob Frey and City Councilmember Jeremiah Ellison (Ward 5) attended the groundbreaking celebration to show their support for both Glenwood Apartments and RISE Modular. Both Frey and Ellison have been vocal supporters of not only more affordable housing throughout Minneapolis but also for more diversity in housing options in North Minneapolis.
“When someone shows you a vision for a more sustainable, more cost-effective, faster solution to housing development, that is a vision you want to follow,” said Mayor Frey. “What RISE Modular and Enterprise Community Partners have done with Glenwood Apartments is astounding. It’s a beautiful vision that we should all get behind – and a model I want to see RISE replicate again and again.”
Councilmember Ellison agreed with the mayor's comments, echoing the need for more commercial modular housing.
“I appreciate this project coming into ward 5. We do need more affordable housing, but we also need more diversity of housing types in North Minneapolis and options for those transitioning out of low-income to stay in the neighborhood,” said Ellison. “We’re happy to have modular in our city. We think it can help us solve a lot of our house gaps. RISE is at the forefront and they're making it happen with this project.”
Glenwood Apartments will be a seven-story structure constructed with five stories of RISE-manufactured modules over a two-story concrete podium. Units will include studio, alcove, and one- and two-bedroom options. The street level will be activated with lofted townhome units along Fremont Avenue and retail and commercial space along Glenwood Avenue. The entrance and lobby will welcome residents and visitors at the street corner with all uses wrapping around two stories of enclosed parking. Additional amenities will include co-working and maker spaces, a seventh-floor clubroom and rooftop deck with skyline views, a fitness center, secure bike storage, a dog-washing station and outdoor green space.
In addition to serving as the module manufacturer, RISE will be the general contractor, developer and owner. Enterprise Community Partners and Bridgewater Bank are both financial partners, and DJR is the project architect. The project team anticipates a twelve-month construction and expects to welcome residents summer of 2023.
About RISE Modular
RISE Modular is a full-service commercial volumetric modular manufacturing and construction firm revolutionizing the traditional stick-building process to meet the need for faster, safer, higher quality and more cost-consistent, sustainable construction solutions from its Owatonna, Minn. manufacturing facility. RISE Modular is advancing the modular paradigm by utilizing the best in emerging technology and an integrated team approach to deliver highly flexible and custom-designed multi-story housing and hospitality projects that meet a wide range of market and client needs. In 2022, RISE was named Minneapolis/St. Paul Business Journal and Minne Inno’s Start-up of the Year. For more information, visit www.risemodular.com