Lofts at Farmers Market grand opening
$13 million housing project is already fully leased
Today, Mayor Chris Coleman was joined by Councilmember Dave Thune and Metropolitan Councilmember Jon Commers at the grand opening of the Lofts at Farmers Market, a 58-unit market-rate housing building that was developed by the Housing and Redevelopment Authority of the City of Saint Paul as part of the Rebuild Saint Paul initiative. The $13 million housing project—financed in most part by Build America bonds–is already fully leased.
“Rebuild Saint Paul is all about creating jobs and moving projects forward to create a better place for our residents. The Lofts at Farmers Market is already a proven success story. With every unit leased prior to its opening, it's an important addition to the Lowertown community that will continue to drive vitality in one of Saint Paul's most lively neighborhoods,” Mayor Coleman said. “This project would not have succeeded without the support of our funding partners--the Metropolitan Council and the Department of Employment and Economic Development.”
The event today took place on the building’s green roof, which was designed not only as an outdoor amenity for the residents but also to provide storm water management by controlling and slowing rainwater runoff and reducing the building’s contribution to the urban heat island effect.
“Once more, it is being proved that Downtown is a place where people want to live and work. The HRA and City Council invested in quality construction and public art to add to this creative community,” Councilmember and HRA Chair Dave Thune said.
The Saint Paul Housing and Redevelopment Authority approved the project in September, 2010, leasing began in November, 2011 and tenants began moving in in February, 2012.
“The Farmers Market Lofts are already fully leased because people want to live and work in great places like Lowertown in Saint Paul. The Metropolitan Council is grateful we could partner with the city to move this redevelopment forward,” Jon Commers of the Metropolitan Council said.
The Lofts at Farmers Market also has the distinction as one of the first city-owned projects to be completed after the city’s Public Art Ordinance was enacted. The Lofts’ public art includes five glass mosaics designed for the exterior of the Lofts building. The mosaics were all made by a local Saint Paul artist and each image represents some part of Lowertown’s history.
The Lofts, built in the historic Lowertown neighborhood, received the 2012 Heritage Preservation Award for “Best New Construction in a Historic District.”
Rent for a unit ranges from $925 to $1,780. The Lofts were designed by UrbanWorks Architecture and built by general contractor Shaw Lundquist.
For more information on the Lofts at Farmers Market, go to www.loftsatfarmersmarket.com .