Proposed Luxury Apartment Complex In Minneapolis Files Bankruptcy

From Sam Black @ Twin Cities Biz Journal:

River View Holdings LLC, a Minneapolis-based entity run by Steve Frenz, filed for bankruptcy in U.S. District Court Nov. 13.

Frenz, who is also CEO of Minneapolis-based firm JAS Apartments, announced in 2008 that he planned to develop a 348-unit luxury apartment complex on the site.

According to bankruptcy documents, River View counts its only assets as three parcels that total 2.06 acres. It estimates that the parcels — 110 12th Ave. S., 124 12th Ave. S. and 1102 Second St. S. — are worth a combined $2.95 million. River View lists liabilities of $6.82 million.

(h/t Steve Ladin)

Apartments coming to the Mill District?

Rising from the failed Portland condo project, here come apartments?

From the StarTrib:

Village Green Companies, a Michigan-based rental property owner and developer, has reworked an agreement to buy the site bounded by S. 2nd Street and Washington and Portland Avenues so that it can proceed with plans for a 175-unit apartment building. The site is owned by the city and Brighton Development Corp., which canceled plans for the condos and a live/work project because of lower-than-anticipated interest from buyers and tenants.

Given the article, looks like the name of the apartment complex is going to be Mill City District Apartments. Think they need to put some better thought behind that name given the history behind the names of the condo projects (see bottom of article, they are very creative with naming apartments [insert snark here]).