Saint Paul, MN – Flaherty & Collins Properties has announced the grand opening of 2700 University, a $54 million mixed-use, transit-oriented luxury residential apartment development near the Green Line Westgate Light Rail Transit station. An official ribbon cutting ceremony will be held on Tuesday, December 13, at 4 p.m. at 2700 University Ave. W. The event will take place at 2700 University Ave. W. in Saint Paul.
“Mixed-income, mixed-use developments like 2700 University will enhance prosperity in Saint Paul by providing affordable housing for 50 low-income families,” said HUD Midwest Regional Administrator, Antonio R. Riley. “The 2700 University partnership has demonstrated a successful approach that leverages public investment and traditional multi-family financing to provide affordable, stable housing opportunities.”
Project partners include the Housing and Redevelopment Authority of the City of Saint Paul, the Metropolitan Council, Local Initiatives Support Corporation (LISC – Twin Cities), BMO Harris Bank, and the National Equity Fund, Inc. (NEF). UrbanWorks served as the project architect, with Kraus-Anderson as the General Contractor. Landform was the project engineer. 2700 University will be a LEED certified community.
“The 2700 University development is a valuable investment along the Green Line that will provide connected and accessible spaces for residents,” said Saint Paul Mayor Chris Coleman. “With access to jobs, services, and all of the wonderful amenities our city has to offer, this development adds to the vibrancy of Saint Paul.”
The project features 248 luxury apartments, with 80% of the apartment homes set for market rate and 20% for affordable. Comprised of studios, one and two-bedroom apartment homes, 2700 University will boast some of the finest amenities in the Saint Paul market.
“We are thrilled to open this exciting project, on time and on budget,” said Ryan Cronk, Vice President of Development with Flaherty & Collins Properties. “2700 University will mean a lot to the Saint Paul community and we could not do this without great partners like the City of Saint Paul, the Met Council, BMO Harris, LISC and NEF. 2700 will be the destination for the best in urban living.”
Residents will enjoy features and amenities that include: A first floor bar/coffee shop; high speed Wi-Fi throughout; a state-of-the-art 1,400 square foot fitness center featuring Matrix Fitness equipment, a yoga studio, and Matrix® MyRide+ Group Cycling; a year-round, resort-style heated saltwater pool with wet deck, and a hot tub with a heated deck; a 20,000 square foot courtyard; an Outdoor Living Room with fire pits, commercial grade grills, and outdoor furniture; a 1,600 square foot Bark Park with a Dog Park Express Course including a water station and waste area; bike storage with repair tools, stands and pumps; and underground parking.
Apartments will include: 100% LED lighting; luxury wood-style flooring in the kitchen, entries, and living area; oversized flat slab kitchen cabinets with custom hardware; premium carpet in bedrooms; oversized energy efficient windows; front load, full size Energy Star-rated washer and dryers; quartz countertops; Nest® thermostats; frameless shower doors; and recessed/decorative patios or balconies.
The project, at 345,611 square feet, will have an additional 3,000 square feet of first floor, street-front retail space and 219 parking spaces below grade.
For more information on 2700 University, visit www.2700university.com.