2700 University

2700 University Avenue, Saint Paul, MN

Project Type: New Construction


Project Stage: Completed

Size: 232 multifamily rental units (47 affordable); 3000 square feet of commercial

Year Constructed: 2016

Developer: Flaherty & Collins Development, Inc.

Project Cost: $52 million

Funding Sources: HUD 221(d)(4) loan; state and city deferred; Metropolitan Council; LISC

Landon Group role: Secure financing

2700 University, a gateway project for the City of St. Paul, is located at the intersection of University and Emerald Avenues directly adjacent to the Westgate Station of the Green Line. This transit-oriented development is comprised of 34 studios, 128 one-bedroom, 11 one-bedroom + den, and 59 two-bedroom apartment units with modern amenities including laundry facilities in each unit, community space, fitness rooms, and a large outdoor pool deck with grills, seating areas and pergolas.

2700 University is a mixed use development with retail along University Avenue and below grade structured parking.  20% of units are affordable to households earning at or below 50% area median income.

Due to its location on the Central Corridor, 2700 University provides convenient access to jobs for the residents:  the Court International Building is a short walk away, while the downtown St. Paul and Minneapolis job cores, Regions and University Hospitals, the University of Minnesota, and other employment centers are just a short bus or train ride away.  The synergy between Westgate Station and this high-density development creates a “sense of place” beckoning transit riders to the area.

2700 University was selected as a Finance and Commerce Top Project of 2016!