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530K-SF MXU Rise at Prospect Park Arises
CA Ventures began work on Rise at Prospect Park, a 530,000-square-foot, mixed-use development. The property will have 336 rental units in a 13-story tower, that will top a Fresh Thyme grocery store in Minneapolis’ Prospect Park neighborhood.
Once the site of an ice cream factory, the development at 2929 University Ave. S.E. is geared toward University of Minnesota students and employees, as well as professionals and empty nesters. Rise at Prospect Park will also be close to the metro’s Green Line light rail station.
Harlem Irving of Chicago is partnering with CA Ventures’ multifamily investment and development division and New York-based Square Mile Capital on the project. Financing was arranged by JLL’s Capital Markets Group. The designer is Richfield-based Tushie Montgomery Architects.
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