Chorus Apartments

1295 2nd Street NE, Hopkins, MN 55343

Project Type: New Construction

DETAILS:


Project Stage: Completed


Size: 116 affordable housing units


Year Constructed: 2023


Developer: Alatus LLC (Minneapolis)


Project Cost: $40.7 million


Funding Sources: 4% LIHTC, County deferred funding, TIF


Landon Group role: Secure financing

Chorus Apartments is part of the redevelopment of 16.84 acres of infill suburban land located at the intersection of the Cedar Creek Regional Trail, as maintained by Three Rivers District, and Blake Road N, a recently enhanced major north-south arterial roadway in Hopkins, MN. Its 116 units, ranging from one- to four-bedroom units, are affordable for households up to 60% AMI. In addition, three units (1 one-bedroom and 2 two-bedroom units) with rents restricted at 30% AMI are reserved for Hennepin County’s Health and Human Services (HHS) clients.

Alatus was selected by the City of Hopkins and the Minnehaha Creek Watershed District (MCWD) as the master developer for the site. The other buildings included in this master development include a five-story for-sale senior co-op, a 15-story multifamily market rate development with 17,000 square feet of retail space in and around the building, a six-story mixed-income multifamily building with 171 units directly abutting the near Minnehaha Creek enhancements, and 33 units of for-sale townhomes.

The overall development will include an open space network are a series of plazas, water features, storm water treatment features, and landscaped gathering areas, reaching from the project entry at Blake Road N to the Central Plaza located next to future restaurants and the Minnehaha Creek Greenway. The open space network is designed to provide places for people to gather and stroll along the waterway. Native plant materials, special paving and lighting, site furnishings, and native stone elements will be incorporated to create an environment that will reconnect people to local and regional landscape experiences.