Close Menu
Eden Prairie Local News
    Facebook X (Twitter) Instagram
    Wednesday, May 21
    • About
      • About EPLN
      • Team
      • EPLN in the News
      • Policies
    • Contact
    Facebook X (Twitter) Instagram Threads LinkedIn
    Subscribe
    Eden Prairie Local News
    • Home
    • Schools
    • Business
    • Sports
    • Public Safety
    • City
    • Calendar
    • Subscribe
    • Donate
    • More
      • Construction
      • Outdoors
      • Politics
      • Health
      • Spirituality
      • Community Service
      • Legacy
      • Obituaries
      • Arts
      • Family
      • Holidays
      • Letter to Editor
      • Listen
      • Jobs
    Eden Prairie Local News
    Home»City of Eden Prairie»Wave of apartment construction projects reaches Eden Prairie
    City of Eden Prairie

    Wave of apartment construction projects reaches Eden Prairie

    Mark WeberBy Mark WeberJanuary 5, 2022Updated:January 7, 20224 Mins Read
    The Paravel apartment complex is under construction and one of several multi-family housing projects ahead for Eden Prairie. (Image courtesy of Timberland Partners)

    A flurry of apartment projects either under construction or in the City of Eden Prairie’s review pipeline could quickly increase the number of local households.

    The 24,790 Eden Prairie households identified in the 2020 Census would increase by 3.6 percent – more than 900 households – if three apartment projects that are already approved or seeking the city’s OK reach fruition and become fully occupied.

    Two other projects described as strictly conceptual at this point would raise those numbers even more.

    It reflects a Twin Cities-area multi-family housing market that is benefiting from what Matthew Mullins, vice president at Maxfield Research & Consulting, in Roseville, called “a perfect storm from the demographic standpoint.” That is, a large baby-boomer demographic that is downsizing and a large millennial demographic that is delaying home purchases in a market where homes are in short supply.

    Advertisement
    Ad for Washburn McReavy

    Add to that the fact that Eden Prairie remains highly desirable but lacks large tracts of open land where single-family housing could be built, and you begin to understand why small, “infill” parcels and properties ripe for redevelopment are attracting apartment projects.

    And, there’s more, says Mullins: Unlike in Minneapolis, projects in the suburbs, exurbs, and rural areas generally have enough land to build the much-sought-after, larger apartments with lots of amenities, which are popular in part because of the work-from-home trend driven by the spread of COVID-19.

    Further, construction of the Southwest LRT route from Minneapolis to Eden Prairie will continue to be a factor in local apartment construction, said city Community Development Director Julie Klima, as developers aim to place housing near LRT stations.

    Current Eden Prairie apartment projects include:

    • Paravel, a 246-unit apartment project by Timberland Partners with construction underway in the southwest quadrant of Prairie Center Drive and Flying Cloud Drive, next to the Flagstone senior-housing complex.
    • The Ellie, a United Properties proposal for 239 apartments north of Smith Coffee & Café along Eden Prairie Road that has received preliminary approval from the city council.
    • Blue Stem North, a Greco Properties LLC plan for a two-phase project totaling 425 apartments at 6901 Flying Cloud Drive, not far from the planned Golden Triangle LRT station; this project will be reviewed by the Eden Prairie Planning Commission on Jan. 10.

    In addition, RE Equities has received the city’s preliminary OK to pursue housing revenue bonds for multi-family projects on the northwest and northeast corners of the intersection of Valley View and Baker roads for a total of 315 apartment units described as currently “very much speculative” by Jonathan Stanley, the housing and community services manager for the City of Eden Prairie.

    Mullins says the Twin Cities area has been riding a wave of apartment construction for about the last decade, as investors remain bullish on the return on investment for this type of development – even as developers have shouldered higher construction costs.

    Of 15,075 housing permits issued last year in the Twin Cities, according to Housing First Minnesota, 51% were for multi-family units.

    A lot of recent construction has been outside the core cities and part of what Mullins calls an “amenities war”: the increasing tendency to build apartment projects that include home offices, kitchen islands, high ceilings, covered parking, co-working facilities, and even pickleball courts.

    He sees the apartment market cooling in the future, but not idling.

    While Eden Prairie resident and developer Scott Carlston believes Eden Prairie will continue to see its share of new construction because of its attractive features, he’s a bit taken aback by the amount of Twin Cities apartment construction that’s taking place.

    Carlston, who played a part in the construction of the local Martin Blu and Elevate apartment complexes and Eden Prairie Senior Living, says it often takes three years for an apartment project to get from concept to construction, so it’s fair to ask if today’s construction boom will overshoot tomorrow’s demand for rental units.

    “And that we don’t know,” he said. “I do think we really have to make sure everything is done while looking down the road, financially.”

    In any case, the local boom in apartment construction has helped the city’s effort to stimulate some housing that’s more affordable than market rental rates.

    For example, a project like The Ellie can include up to 60 units that are below market rents, thanks to a new city policy that requires apartment complexes to reserve a share of the units for people with lower incomes.

    When those affordable units are close to transportation, as is proposed with Blue Stem North, it’s fulfilling multiple goals outlined in the city’s long-range plan. Said Stanley: “It’s nice when those things come together.”

    Comments
    We offer several ways for our readers to provide feedback. Your comments are welcome on our social media posts (Facebook, X, Instagram, Threads, and LinkedIn). We also encourage Letters to the Editor; submission guidelines can be found on our Contact Us page. If you believe this story has an error or you would like to get in touch with the author, please connect with us.

    Be Informed
    Sign up for the FREE email newsletter from EPLN
    Subscribe
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleWatershed district looking for citizen advisory committee applicants
    Next Article Race Equity Report: Eden Prairie can improve diversity, inclusiveness

    More to READ

    10 Mins Read

    Getting where you need to go – with less driving

    May 8, 2025
    6 Mins Read

    Eden Prairie Schools’ centennial bash wins heritage honor

    May 8, 2025
    6 Mins Read

    Where does the recycling go?

    April 30, 2025
    Subscribe to get EPLN in your inbox for FREE!
    Recent Articles

    Eden Prairie High School program gives seniors a head start on careers

    May 21, 2025

    Shakopee man charged in Eden Prairie sexual assault of 15-year-old girl

    May 21, 2025

    EPHS synchronized swim team advances to state meet

    May 20, 2025

    Minnesota legislative session ends, still with a long to-do list

    May 20, 2025

    Former Eden Prairie man sentenced for posting nude images of woman online without her consent

    May 20, 2025
    • Facebook
    • Twitter
    • Instagram
    • LinkedIn
    INN Network Member Guidestar Seal
    Eden Prairie Local News is a 501(c)(3) nonprofit organization EIN 85-4248265 | Copyright © 2020-2025
    • About
    • Policies
    • Jobs
    • Contact
    • Advertising
    • Subscribe
    • Donate

    Type above and press Enter to search. Press Esc to cancel.