Hines and its partners AFL-CIO Building Investment Trust and Marquee Development have started construction on a new mixed-use development, North Loop Green, in Minnesota, the US.
The new development is situated in live-work-play-stay-shop-dine North Loop neighbourhood, Minneapolis.
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It will include 100 hospitality units, 350 residential units, 350,000ft2 of next-generation office space and 17,000ft2 of premier food and retail premises.
Hines managing director Bob Pfefferle said: “North Loop Green will be an exciting and dynamic destination for businesses and residents, with advantageous synergies between residential, hospitality, office and retail.
“Additionally, North Loop Green will add significant dining, recreational and family-friendly entertainment options in the rapidly growing North Loop submarket.”
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Additionally, North Loop Green will feature “The Green”, the one-acre green space near Cedar Lake Bike Trail.
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By GlobalDataIt will be programmed with many cultural, artistic, and community-based events for locals and visitors.
North Loop Green is planned to be opened by 2024 spring.
Marquee Development managing principal Eric Nordness said: “We are thrilled to create a welcoming, vibrant, authentic mixed-use destination for the North Loop community and the entire City.
“The Green will be a premier spot for engagement, inspiration and enjoyment for all ages, from outdoor movie nights, to live performances, seasonal festivals, family activities and more. The Green will be a 365-destination for years to come.”
Hines has appointed Kraus Anderson (KA) as general contractor for the new mixed-use development while real estate company JLL as leasing agent for the project’s office component.
Recently, the real estate company, along with its partner DNR Group, started construction of DNR Altitude, an office project, in India.
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Rendering of North Loop Green development in Minnesota, the US. Credit: Hines.
