Featured Projects
the Impact of offsite construction
Luxury, modular, multi-family building sells for record price in Edina
The 202-unit Eddi Apartments sold for $50.45 million, making it “one of Minnesota’s largest modular-built apartment transactions,” according to reporting from Finance & Commerce. The six-story, 244,000 square-foot building includes both market-rate and affordable units and was developed by a collaboration between RISE Modular and Solomon Real Estate Group. It is “the largest modular multi-family development in the state and one of the largest commercial volumetric wood-frame projects in the United States,” according to its portfolio page from Cunningham. Oak Properties acquired the building, according to a press release from JLL Capital Markets, which facilitated the sale. The Eddi’s units were 92% leased at the time, per its listing.
Photo credit: Cunningham
Video credit: Rise Modular
Pathbreaking, modular, scattered-site public housing project in Minneapolis delivers affordable units across the city
The 84-unit Family Housing Expansion Project (FHEP) is “the first of its kind in the public housing sector, bringing ‘missing middle,’ deeply affordable housing through modular construction,” according to its finalist profile for the ULI Americas Award for Excellence. “The Minneapolis Public Housing Authority (MPHA) effectively redeveloped existing single-family home lots to accommodate these new apartment buildings in neighborhoods that lacked affordable housing thanks to the City of Minneapolis’ zoning law change.” MPHA estimates that the 84 new homes across 16 sites, including 26 two-bedroom units and 58 three-bedroom units, will be able to serve approximately 420 families over the next 30 years. All units are available to households at or below 30% Area Median Income (AMI).
Photo credit: ULI / Russell Heeter Photography
Video credit: Rise Modular