New high-rise looks to be latest addition to East Town Minneapolis

The 'Eleven' will bring a New York luxury to an area of Minneapolis that is seeing unparalled growth.

MINNEAPOLIS - Drive across the 35W bridge toward downtown Minneapolis and you'll see several buildings nearing completion in one of the hottest residential development areas in the metro area.

"It's a complete population boom and we love it," said Joe Tamburino, chair of the Downtown Minneapolis Neighborhood Association. "I think East Town is even more popular than the North Loop, in terms of places to live, because there's so much new construction."

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Tamburino says the Guthrie Theater sparked development in the area several years ago, and now the addition of US Bank Stadium has made it hotter than ever.

"It's a very stable area, and it's very convenient," Tamburino said. "You can easily walk, bike or take the light rail downtown."

(Credit: Robert A.M. Stern Architects)

Hundreds of apartment units have opened in the past 18 months and that doesn't include the Legacy Condos being built near West River Road, and two new apartment buildings - including a Traders Joe's - that will soon open on Washington Avenue. In May, another apartment will break ground at 205 Park Avenue, and then there's the latest proposed condo, simply called 'Eleven'.

"Very Gotham style, New York building, high-end luxury," Tamburino said.

If approved, 'Eleven' would be right across the street from Gold Medal Park and the 101 luxury condos would reach 39 stories.

"A project like this will be such a great anchor for other types of development and for the property taxes in Minneapolis and Hennepin County," Tamburino said.

That means prices will be steep, but Tamburino says 'Eleven' will also bring critical parking spaces to the area, and he says there appear to be plenty of new options in the works.

"There seems to be more of a wanting, a little bit of a cultural shift, to get back into the city," he said.