wall

The Station at Malcolm Yards’ apartment community builds on neighborhood’s redevelopment success

julie@wallcompanies.com (Julie Pierce) — Wed, 28 Feb 2024 23:40:02 GMT

Published in: Minneapolis/St. Paul Business Journal
Author: Lauren Lawley Head

February 23, 2024

Snelling Yards affordable apartments move ahead

julie@wallcompanies.com (Julie Pierce) — Thu, 29 Jun 2023 23:22:53 GMT

Published in: Finance & Commerce
Author: Brian Johnson

June 13, 2023

After landing a key funding commitment from Hennepin County, Lupe Development Partners and Wall Cos. are pushing ahead with a long-planned $32 million project that will bring 90 affordable apartments to a former public works site.

Part of the Snelling Yards development, a joint venture with Ecumen, the new building will rise on a site adjacent to The Hillock, Ecumen’s fully leased affordable senior housing development. The development site is at East 45th Street and Hiawatha Avenue in Minneapolis. Frana Cos. is the contractor and Pope Design Group is the architect on the project.

A green common space and outdoor “tot lot” paved playground for kids will connect the two housing complexes, creating what the developers call an “intergenerational campus” of affordable housing for seniors and families.

Hennepin County recently awarded the project $900,000 in funding through its Affordable Housing Incentive Fund program, which funds the development of affordable housing units for “very low-income households.”

“We know there’s absence of affordable apartment communities with ample space for larger families and Snelling Yards is an excellent solution to that in the heart of the city,” John Wall, president of Wall Cos., said in a statement. “The investment from Hennepin County is an encouraging sign that allows this project to move forward. We’re ready to seize this moment and deliver on our vision to create a multigenerational community at Snelling Yards.”

The project site is a former city of Minneapolis Public Works storage area. The developers said they are “eager” to remove existing storage units on the site and break ground in 2024. The goal is to have the new units ready for occupancy in July 2025.

The project has been in the works for years.

Finance & Commerce first reported in 2015 that the city was seeking a housing developer for the 3.3-acre Snelling Yards site. In 2017, the city selected the Wall Cos., Lupe Development and Ecumen team as preferred developers.

One challenge was maintaining a project that would appeal to funding partners.

To that end, the developers included some units targeted to homeless veterans and others for households at 30% of area median income. Also added were family-friendly three- and four-bedroom dwellings.

“When we started this, the funders were funding these 50% and 60% [AMI] tax credit projects that everyone was doing,” said Jeff Ellerd of Wall Cos. “And those were typically studios, ones and some two-bedroom units.

“Since that time, their focus has changed and, for better or for worse, they have pushed developers to include more 30% units and units that are prioritized for people who have been homeless in the past year or are at threat of being homeless.

“We had to adapt to what the funders wanted.”

Meanwhile, the developers have been cobbling together a mix of funding sources. Among those is a $1 million award from the city of Minneapolis Affordable Housing Trust Fund. In May 2020, Hennepin County awarded $800,000 for the Snelling Yards senior housing component.

Other sources include 4% Low Income Housing Tax Credits, mortgage financing, and potential tax increment financing from the city of Minneapolis and Livable Communities Act funding from the Metropolitan Council.

“Met Council funds are typically awarded at the end of the year. If we are successful, project financing closing and start of construction would occur in 2024,” Ellerd said.

The Flats at Malcolm Yards: New affordable housing development breaks ground in Malcolm Yards neighborhood

julie@wallcompanies.com (Julie Pierce) — Wed, 22 Mar 2023 19:36:01 GMT

Affordable building is the latest development in

new mixed-use community near the University of Minnesota

MINNEAPOLIS, Minn. — Lupe Development Partners and Wall Companies broke ground today on the latest development in the Malcolm Yards community: The Flats at Malcolm Yards, a 143-unit affordable apartment building. The Flats at Malcolm Yards project is part of a larger development which includes: The Market at Malcolm Yards, an urban food hall; and Malcolm Station Apartments, a market rate, multifamily housing project with seven stories and 8,500 square feet of commercial space. The affordable building realizes the vision for this mixed-use and mixed-income community near the University of Minnesota.

“The vitality of Minneapolis is dependent upon every person in our community having access to a safe home that they can afford,” said Minneapolis Mayor Jacob Frey. “The Flats at Malcolm Yards is a great affordable housing option that will bring vibrancy to this once abandoned area. This burgeoning neighborhood with access to transit, green space and cultural amenities will benefit all of Minneapolis.”

The Flats at Malcolm Yards is located at 505 Malcolm Ave. near the Green Line LRT that connects Minneapolis and St. Paul, several bus routes, and near the University of Minnesota transitway. The project will include 143 affordable housing units, including 16 units for previously homeless individuals.

“A special thank you to everyone who helped put together this remarkable project. After 10 years of visioning and planning, we finally get to see it all come together,” said John Wall, president, Wall Companies. “This project is very important to me because of the positive impact it leaves on the community. We will continue to invest in Malcolm Yards until we realize the full potential of this prime urban location.”

The development will include a mix of studio, one- and two-bedroom units. The Flats is a 100% affordable housing project with all units affordable at 60% average median income (AMI) or less. The project will have one level of underground parking, as well as a fitness and business center, coffee bar, and a sky lounge with views of the Minneapolis skyline.

“We are excited to be a part of this monumental project taking place in the Malcolm Yards neighborhood. Affordable housing is a critical part of the fabric of our communities. Together, each of these projects help bolster the livelihood of the neighborhood and well-being of the people who live here,” said Todd Hedtke, Allianz Life chief investment officer, an investor in the project. The project’s Low-Income Housing Tax Credit investor is R4 Capital and R4 Capital Funding is the tax-exempt lender.

The Flats at Malcolm Yards received generous funding support from the City of Minneapolis Affordable Housing Trust Fund and the Minnesota Department of Employment and Economic Development as well as Hennepin County’s Affordable Housing Incentive Fund, Transit Oriented Development Program, and Environmental Response Fund.

Construction is expected to be completed in 2023.

About Wall Companies

Wall Companies has a long history of development in the Twin Cities. For nearly 60 years, the company has developed hundreds of residential units, and more than two million square feet of retail, office, and industrial property. Wall Companies is committed to developing diverse neighborhoods and sustainable buildings that enhance the lifestyles of those who live in them, while preserving community and quality.

About Lupe Development Partners

Lupe Development Partners is a Minneapolis-based, women-owned enterprise that plans, develops and manages residential and mixed-use real estate in the Twin Cities urban core. Since 1989 the company has developed, owned and/or renovated more than 1,200 apartment or condominium units and more than 1 million square feet of retail, residential and industrial property. Lupe Development Partners has recently completed several affordable housing projects, including Broadway Flats and Mill City Quarter in Minneapolis and East Side Apartments in Saint Paul.

About Allianz Life Insurance Company of North America

Allianz Life Insurance Company of North America, one of the FORTUNE 100 Best Companies to Work For® and one of the Ethisphere World’s Most Ethical Companies®, has been keeping its promises since 1896 by helping Americans achieve their retirement income and protection goals with a variety of annuity and life insurance products. In 2021, Allianz Life provided additional value to its policyholders via distributions of more than $10.6 billion. As a leading provider of fixed index annuities, Allianz Life is part of Allianz SE, a global leader in the financial services industry with approximately 150,000 employees in more than 70 countries. Allianz Life is a proud sponsor of Allianz Field® in St. Paul, Minnesota, home of Major League Soccer’s Minnesota United.

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The Flats at Malcolm Yards

julie@wallcompanies.com (Julie Pierce) — Mon, 20 Mar 2023 17:23:05 GMT

Income Qualified Apartments in a Vibrant Part of Prospect Park

The Station at Malcolm Yards

julie@wallcompanies.com (Julie Pierce) — Mon, 20 Mar 2023 17:15:57 GMT

Modern Living in a Vibrant and Industrial Part of Prospect Park

Top Projects of 2021: The Market at Malcolm Yards

Fri, 22 Jul 2022 20:00:33 GMT

Top Projects of 2021: The Market at Malcolm Yards

By Holly Dolezalek

Finance & Commerce
July 22, 2022

Just a few years ago, the historic Harris Machinery building in the Prospect Park neighborhood was in sad shape. A fire in the dead of winter had caused significant damage to the brick and timber manufacturing building, and collapsed its gabled roof.

But the Prospect Park Neighborhood Association wasn’t going to give up on it, and neither was Patricia Wall. The building would be saved and refurbished into a food hall: The Market at Malcolm Yards. “I have a background in the food service industry, and I had seen food halls in other places and thought we needed one in the Twin Cities,” said Wall, owner. “We knew it would create a wonderful ambience to put a food hall in a space restored from the past.”

But the renovation would be no small thing. To get the building ready for use, the debris from the fire had to be removed, and the whole building had to be carefully shored up in stages to prevent further damage. “It was a massive undertaking,” said Jillian Kalogerson, CEO at contractor Kalcon. “A lot of steel went into that building.”

The resulting 19,000-square-foot food hall has nine kitchens for lease. Most of the leases are for nine months or a year, so that the market can switch up food vendors. It also has a beer wall with self-pour taps.

As much as possible, materials from the site were re-used. The building’s machine shop became an event space, and wood columns and beams stayed in place, reinforced with structural steel. An addition constructed several decades ago also stayed in place, and blueprints from other buildings in the area were used to create wallpaper for it. Even wooden brick boxes found in the building were deconstructed to make paneling out of them.

“It is such a magical space,” Kalogerson said. “I’ve done a lot of projects, and the love and care that went into that building are just apparent.”

The Market at Malcolm Yards

Address: 501 30th Ave. SE, Minneapolis

Project cost: $10 million

Project size: 18,700 square feet

Owner: The Wall Cos.

Contractor: Kalcon

Architect: Wilkus Architects; Engine 8

Engineer: Stantec (Civil); AKF (Mechanical); Mattson, MacDonald, Young Inc. (Structural)

Malcolm Yards Was Never Just About the Food

Thu, 11 Nov 2021 20:57:35 GMT

Malcom Yards Was Never Just About the Food

The developers behind the Prospect Park food hall hope to show there's "life on this side of the transitway."

By Dan Niepow

Twin Cities Business
November 02, 2021

The Market at Malcolm Yards drew a good deal of local attention long before its official opening in July. Originally slated for 2018, the food hall promised to rejuvenate the raffish Minneapolis neighborhood north of University Avenue between Stadium Village and Prospect Park.

What few realize was that the food hall was rather incidental to the developer’s grander plan for the area. When John Wall first happened on the 20-acre parcel of land near the old United Crushers grain elevator, he initially planned to transform it into a research park for the University of Minnesota, whose East Bank campus is steps away.

Wall, president of Minneapolis-based developer The Wall Cos., says the U could have benefitted from such a venture. Research parks are generally filled with private companies that can help commercialize university research. “Research parks pop up adjacent to research universities all over the world,” he says. “As a matter of fact, every major public research university in this country has a research park near it, except for Minnesota. ”

But he didn’t get much interest. “After a really long time of trying, I found that we weren’t getting anywhere,” he says. “We weren’t finding private companies. We weren’t getting help from the university.”

So he took a step back and proposed starting out with new apartment buildings. His aim, he says, was to “show that life exists on this side of the [campus-to-campus] transitway.” The Wall Cos. purchased land and got to work. A food hall would show the neighborhood’s promise, he reasoned.

“We went around the country, talked to developers, and got ideas for what a food hall could do for a community,” says Patricia Wall, owner of the Market at Malcolm Yards (and married to John Wall). She says she got inspiration from a trip to a food hall in Vancouver.

Food halls not only help rejuvenate neighborhoods, they also function as incubators for local chefs. Patricia Wall thinks this one has the potential to change the local restaurant industry for the better, acting as a “market correction” for the industry, long plagued with razor-thin margins and high operating costs. ( Keg & Case Market in St. Paul and the North Loop Galley beat Malcolm Yards to market with the concept.)

Tucked into the Malcolm Yards food hall are nine restaurant concepts, one of which is owned by the Wall Cos. Patricia Wall says each of the proprietors has signed a two-year agreement to pay Wall a percentage of sales. In her view, the market stalls are a low-barrier, low-risk way for chefs to road-test their ideas. “Chefs don’t have to go into debt to build their kitchens,” she says.

But the market is only the first phase of development at the site. Next on the docket is a pair of adjacent apartment buildings to be known as the Flats at Malcolm Yards and Malcolm Station Apartments. The latter building will include 7,800 square feet of commercial space. As for the rest of the land? That’s still to be determined, but John Wall says it will likely be more residential, with a possibility of some future office space and life sciences buildings. He says there are also plans for a “significant arts program,” which could include entertainment venues. The market will remain the “centerpiece of the neighborhood,” he says (though the adjacent Surly Brewing and the new O’Shaughnessy Distillery might contest that title).

“My thought in doing this food hall was, ‘What is going to make people want to get in their car in the dead of winter and drive down here?’” says Patricia Wall. “What’s going to be worth it? If the food is exceptional and there’s a lot of variety, they’ll want to keep coming back.”

A) The Market at Malcolm Yards:
The 19,000-square-foot food hall that developers expect will become the “centerpiece” of the development.

B) The Flats at Malcolm Yards: A six-story, 143-unit apartment complex. Slated to break ground in spring 2022.

C) The Malcolm Station Apartments: A seven-story, 210-unit apartment complex that will include 7,800 square feet of commercial space on the first floor. Slated to break ground in December.

D) A greenway-type trail to connect the larger property to the Prospect Park Green Line LRT station.

E) The now-empty United Crushers grain elevator, which is slated to remain on-site for historical reasons. “We have some people who are interested” in a development on top of the building, John Wall says.

F) The remaining buildings are still to be conceived, but Wall says they’ll likely include a “large residential component,” entertainment venues, and perhaps life sciences buildings, fitting in with the developer’s original plan for a research park.

This story appears in the Oct./Nov. 2021 issue with the title “Market Strategy.”

New Restaurant Review: The Market at Malcolm Yards In which a food hall skeptic comes around

Fri, 22 Oct 2021 17:32:25 GMT

New Restaurant Review: The Market at Malcolm Yards

In which a food hall skeptic comes around

By Jason DeRusha

Minnesota Monthly
October 20, 2021

I'm a food hall skeptic. Yes, I've been to Reading Terminal Market in Philadelphia and I adored DiNic's broccoli rabe sandwich. Grand Central in Los Angeles is cool, as is Chelsea Market in New York, but the Minnesota efforts have left me wanting. I want more variety at St. Paul's Keg and Case, I want better quality and vibe at both Graze and North Loop Galley, I want to know why I should go to a fancy food court instead of an actual local restaurant.

Enter the Market at Malcolm Yards.

Over the last couple months, every single one of my friends has asked if we can meet there. They heard the buzz about the chef from Bellecour killing it with a Korean-fried chicken sandwich, or the burger they never got around to ordering from that Minneapolis ice cream shop. The list continued: the vegetable-focused restaurant, the dosa people, the empanadas, sushi, Joey Meatballs' handmade pasta. Malcolm Yards offered so much variety at such high quality.

Bike from the University of Minnesota campus or park your car in the shadows of Surly's destination brewery, and you'll be ready to explore in a few easy steps. You essentially open a tab by swiping your credit card, and you then receive a card that you use at the nine independent restaurants, the cocktail bar, and the pour-your-own beer, wine, and cider wall. Drop your card at the end of your visit and you're set, with an 18% surcharge. There's no tipping-the surcharge pays for the market staff who also clear your table-and the prices are clear.

Make sure to get that Bebe Zito beef-and-bacon burger, and I’d get the double for $9. With great pickles and an incredible special sauce, this is unctuous, fatty decadence. Balance that burger with a stop at Advellum, where chef Michael Shaughnessy (who helped Ann Kim open Young Joni) knows how to coax flavor out of vegetables. Order the Bowl Lotta Love ($14), featuring brown rice and quinoa and a ton of seasonal veggies in a pineapple-turmeric chutney. You can add protein to anything—if you must—but don’t sleep on the Benjamin Bacon ($15), two mung bean pancakes topped with maple-glazed pork belly and bok choy kimchi. Breakfast for dinner has never tasted so good.

Abang Yoli’s fried chicken sandwich sells out most days with its stunningly crispy breast coated in sweet and spicy gochujang sauce, topped with cabbage slaw and pickled vegetables. The chicken marinates for a day, then is coated in buttermilk batter and fried twice to get it extra crispy ($12). You can get it outside the bun, too, for a KFC knockoff that would make the colonel proud.

You also can’t go wrong with MoMo Dosa’s Indian-Nepali street food. The crepe-like dosas, created by the team behind Indian stalwart Gorkha Palace, are light as a feather with just a hint of filling. Masala is the traditional choice with a spread of spiced potatoes, but I loved the earthiness of the curry leaf dosa ($9). Try the ground bison momo ($13), a stuffed, steamed dumpling served with two different chutneys: tomato and cilantro mint.

Chef Josh Hedquist is doing crazy delicious pastas at Joey Meatballs. How he’s doing those handmade gnocchi with your choice of sauce (go butter and garlic) for $11 is a mystery to me.

You may know DelSur Empanadas from the food truck or Minnetonka spot, and it’s a great addition to the Malcolm Yards mix. And it’s the same with Jeff Rogers’ Detroit-style Wrecktangle Pizza, which debuted in the North Loop and offers a pe rfectly crunchy, caramelized focaccia-like crust that can easily serve three. With roasted corn, queso fresco, and an aioli with Tajin, check out Wrecktangle’s inspired pizza-take on the elote ($20).

If you’re in the mood for a charcuterie plate, Sunday has you covered with Red Table Meat Co. and local cheeses. I also liked the sleeper hit of a sandwich with half Japanese-style egg salad, half albacore tuna salad ($6.50). BaGu Sushi may have the most delicious dish of the market with the sake ceviche ($12): sliced raw salmon in a citrus sauce plus dollops of edamame, fish roe, and cilantro. I was there one day when the team rolled a whole tuna behind the counter and started breaking it down.

All the cocktails are on tap for quick service and consistent execution, and longtime Twin Cities bar genius Nick Kosevich has captured the vibe of each vendor with a signature cocktail. The Argentine Sour with fernet and prickly pear is a particular standout ($12).

Somehow, Malcolm Yards owner Patricia Wall makes all of these separate restaurants feel like one unified space. The industrial open feel of this abandoned factory building and much of the preserved PG-rated graffiti give the hall the cool quotient. But what brings this place together is the extremely high quality of the food from every single vendor. It’s fun. It’s lively. It may be enough to make me a food hall convert for good.

501 30th Ave. SE, Minneapolis, malcolmyards.market

The Market at Malcom Yards Opens with a Globetrotting Lineup of Vendors

Wed, 08 Sep 2021 16:01:50 GMT

The Market at Malcolm Yards Opens With a Globetrotting Lineup of Vendors

Local Chefs and ingredients find a home at Minneapolis's newest food hall

By Alex Lodner

Eater Twin Cities
August 16th, 2021

The anticipated arrival of The Market at Malcolm Yards brings Prospect Park fresh options for sushi, pillowy empanadas, ice cream, creative cocktails, and juicy meatballs all under one roof.

The historic home of Harris Machinery Company got a new life at the end of July as a repurposed food hall, complete with nine stalls, a bar, and two event spaces. The industrial-styled development (501 30th Avenue SE), located near the Green Line and the University of Minnesota’s campus, joins Surly Brewing and a surge of new condo and apartment buildings in red-hot Prospect Park.

The entire hall is flooded with natural light, highlighting shiny metal counters and a variety of comfy seating options. Innovations like a no-touch payment system aim to set Market at Malcolm Yards apart from other food halls in the Twin Cities. An efficient “Yard Card” handed to guests upon entry can be swiped at any of the vendors, then dropped off on the way out. In addition, a self-pour tap wall includes 34 taps dispensing beer, wine, and non-alcoholic kombucha. Pour as much or as little as you wish into a glass, and the screen clearly indicates the cost as you pour.

Opening hours are Sunday to Thursday from 11 a.m. to 10 p.m., and Friday and Saturday from 11 a.m. to 11 p.m., with kitchens closing an hour early.

Husband-and-wife real estate duo John and Patricia Wall honored the storied structure by keeping much of the graffiti on exposed brick walls and repurposed elements of the original factory intact. Two private event spaces, dubbed the Machine Shop and Grey Annex, boast floor-to-ceiling windows and private patios for 125 and 300 guests, respectively.

Here’s a look at each vendor:

Abang Yoli

This Asian kitchen that’s big on dairy-free and gluten-free options marries powerful flavors from Malaysia, Thailand, Korea, and Japan. Highlights include marinated Cantonese barbecue pork, fried or chargrilled pieces of Korean-style chicken, kimchi slaw, and grilled cauliflower with crunchy chili oil.

Advellum Vegetable Eatery

This vegetable-centric outpost has an easily adaptable menu and vegan options from the team at Herbivorous Butcher. There’s avocado toast, vitamin-packed salads, and a miso, wild rice and mushroom burger, but carnivores can add chicken, salmon, and bacon to orders too.

Abang Yoli

This modernized take on sushi, sashimi and rolls includes a refreshing sake ceviche, chirashi bowl with eight ultra-fresh sashimi pieces, and a Dynamite roll that delivers a kick.

Bebe Zito

This stand for scoops, shakes, floats and burgers offers small-batch ice cream in rotating flavor combinations like Gochujang Brownie or Tres Leches Strawberry Churro. Bebe Bacon Burgers, which have garnered a fervent following since their introduction at Bebe Zito’s original Uptown location, also have a home here.

Bebe Zito

This collaboration with cocktail maestro Nick Kosevich, owner of Drinks Apothecary, Boxcar offers 20 batch cocktails, including nine inspired by each of the food vendors at The Market.

Del Sur Empanadas

Homemade, pillowy versions of Argentina’s favorite portable snack, stuffed with fillings like beef, chorizo, and barbecue chicken, join South American sandwiches and garlic-y fries.

Joey Meatballs

Joey brings casual Italian cooking to the Market utilizing local ingredients. Go with a pair of giant, saucy meatballs swimming in a bowl of fresh-made spaghetti or pick-your-own pasta, sauce, and cheese for a personalized creation.

Momo Dosa

Showcasing the best of Southern India and Nepal’s street food culture, the folks behind Gorkha Palace in Northeast Minneapolis send out steamed momos (dumplings) filled with organic ingredients, and dosas, or delicate, lightly fermented crepes.

Wrecktangle Pizza

Chef Jeff Rogers’s Detroit-style pizzas with quirky monikers like “Shredder” and delightful flavor combos like corn, Tajin aioli, and cilantro are nothing short of addicting.

After delays, Snelling Yards work set for fall

Fri, 02 Jul 2021 17:12:21 GMT

After delays, Snelling Yards work set for fall

A two-building, affordable housing complex that Lupe Development, The Wall Cos. and Ecumen plan to build at 3601 44th E. St. is moving ahead after delays caused by the financial markets. (Submitted illustration: Pope Architects)

By K elly Busche
June 24, 2021

About 200 units of affordable housing are coming to south Minneapolis as part of the Snelling Yards residential project.

After facing delays due to changes in the financial markets, the development team — consisting of Minneapolis-based Lupe Development Partners and The Wall Cos. as well as Shoreview-based Ecumen — will start work on the project’s senior housing component this fall. Snelling Yards, located at 3601 E. 44th St., also has a workforce housing component, the construction of which will likely start next year.

Snelling Yards is in the Hiawatha neighborhood of Minneapolis. It’s directly east of Hiawatha Avenue and one block north of East 46th Street. A Walgreens store neighbors the site one block south, and a Blue Line light rail stop sits across Hiawatha Avenue from the project.

“The project is designed to be the first connective block of bike and pedestrian access along this rail line between the Sabo Bridge and Minnehaha Park,” according to a city affordable housing document.

The senior housing portion of the project will be constructed first, bringing 100 units of affordable rental housing to a four-story building. There will be studios as well as one- and two-bedroom units available for people making 30%, 50% and 80% of the area median income, according to the city documents.

Through a partnership with the state’s Veterans Affairs Department, eleven units will also be reserved for veterans who are homeless, the documents said.

Finance & Commerce reported Ecumen will own the senior building. Ecumen operates and develops senior housing and services, with operations reaching Minnesota, Idaho, North Dakota and Wisconsin.

The second phase of the project will be home to 90 to 100 units of family and workforce housing. This component of the project is still seeking financial and subsidies, with work likely to begin in 2022, according to city background on the project.

The project’s amenities include walking paths through rain gardens, outdoor picnic areas, bicycle parking, fitness and business centers, as well as a dog run, visiting clinic space and community room, the city document said.

“The site and the building are thoughtfully designed to blend with the existing neighborhood, break up building massing and invite pedestrian traffic through the site,” the document said.

The developers are working with contractor Frana Cos., based in Hopkins, as well as St. Paul-based Pope Architects for design, according to the document.

In mid-June, the Minneapolis City Council approved an 18-month extension of the developers’ exclusive project rights — marking the project’s third extension.

The city first selected the development team in 2016, and later granted it exclusive development rights to the projects for two years. These rights expired in 2019, and the council granted the team a one-year extension that expired in 2020 and later a six-month extension that expired in March of this year, according to city background information.

“The first phase of Senior Housing was expected to close in March 2021, but the project has been delayed due to changes in the financial market and the requirements of the tax credit investor,” according to the background.

Specifics of financial market delays weren’t detailed in the city background. The developer couldn’t be reached for comment by publication time.

The senior housing project’s total development costs are estimated to be $24 million or $239,804 per unit. In 2019, the overall project was estimated to cost over $49 million, with the senior housing side costing $1 million less than today’s predicted costs, the city document said.

Before work can begin, however, the development team must purchase the city-owned land. The city scheduled a mid-July hearing for the sale as well as the developers’ nearly $1.8 million tax increment financing request.

Groundbreaking low-carbon geothermal project might emerge in Prospect Park

julie@wallcompanies.com (Julie Pierce) — Tue, 13 Apr 2021 16:05:03 GMT

Groundbreaking low-carbon geothermal project might emerge in Prospect Park

Dubbed the Towerside district, the triangle of land along the BNSF rail yard between the Surly Brewery, the University of Minnesota and Minneapolis’ Prospect Park neighborhood might soon be one of the most energy efficient communities in the state.

By Bill Lindeke | columnist
March 25, 2021

The drilling came to an abrupt halt on the eastern edge of Minneapolis last Monday when the crew blew a hose. The engineers were drilling down through the layer of sandstone to reach the underground Shakopee and Jordan aquifers, in the hopes of pioneering a new energy system that could be a leap forward for decarbonizing Twin Cities homes.

Though the drilling rig stood a good 25’ high, it was still dwarfed by the massive abandoned grain silos that have long stood sentry over this overlooked part of town. Dubbed the Towerside district, the triangle of land along the BNSF rail yard between the Surly Brewery, the University of Minnesota and Minneapolis’ Prospect Park neighborhood might soon be one of the most energy efficient communities in the state.

“It looks like drilling a hole,” admitted Nina Axelson, who works for Ever-Green Energy , an environmental consulting and planning firm that specializes in district energy systems. “That’s one advantage of aquifer thermal energy storage; you do fewer wells and so you don’t need as much land.”

Unlike a traditional geothermal heating system, the proposed aquifer energy would use existing underground water as a kind of thermal storage system. With help from a grant from the McKnight Foundation, the test wells will measure the flow rate of the two aquifers to see if they would work.

Such an aquifer system would be groundbreaking for the United States. Technically called Aquifer Thermal Energy Storage (ATES), these systems are more common in Europe, particularly in The Netherlands.

The way it works:

A loop of pumps it set up between buildings, two aquifers, and a heat exchanger. Using the two aquifers as thermal batteries, warm water would be pumped from buildings through the exchanger in the summer, replaced with cool water from the ground. In wintertime, the process would run in reverse, heating buildings with the warmer water.

When running properly, the system would reduce energy costs by 40%, and would pay for itself within the first few years. If built, an ATES system, with some tweaks to regulation, could work particularly well for places like Minneapolis that see large seasonal swings in temperature.

“Aquifer-thermal, even the name’s pretty new,” said Cam Gordon, who was on hand for the drilling. Gordon is the Green Party City Council member who has represented this area for a decade and has long been pushing for more aggressive climate change policies in the city. He views a district energy system as a great way to make low-carbon buildings the default for the neighborhood rising along the Green Line.

“It’s getting slowly developed,” Gordon said of the so-called Towerside neighborhood. “This project is apartment buildings, and hopefully in the future we’ll have some manufacturing or job producing businesses.”

According to Gordon, the developer, John Wall , supports alternatives to fossil fuel heating in his planned projects. Working with the City of Minneapolis and Ever-Green, they are trying to get ahead of potential development by thinking early about alternatives.

A district system would be a big change because most new apartment construction in Minneapolis offers heating and cooling through inefficient individual units attached to each apartment, what Gordon calls “ magic-paks .” Because they are all separate units, these units lack the efficiencies that come from having a centralized HVAC system.

The proposed district system offers the opposite approach. Not only would heating and cooling be set up for buildings, a whole neighborhood could connect to a single facility through underground water pipes. Because it allows for alternatives at scale, district systems are the gold standard for energy efficiency.

“This is a key point looking at alternatives for energy,” said Gordon. “This system could be expanded and could serve more buildings.”

Gordon hopes that the proof of concept might help the city consider district energy systems at other large developments, like the Upper Harbor Terminal buildings planned for the north Minneapolis riverfront.

Even now, the long-neglected land south of the rail yard is already beginning to see transformation. Hundreds of new apartments have already been constructed along the Green Line, and a new food hall is opening up this year in a derelict warehouse.

The new neighborhood is part of a long-term plan that dates back to Green Line light-rail planning. During those years, a group of Prospect Park neighbors began working on ambitious plans for the area north of University Avenue, which they hoped would become a mixed-use hub. Dubbed the Towerside Innovation District , there’s even a nonprofit pushing a vision of the area as a business and environmental incubator that might connect entrepreneurs with the University of Minnesota.

The potential energy system is just one of the “district systems” envisioned by the planners.

According to Gordon this kind of groundwork has been a huge help for thinking about large-scale projects like the proposed ATES system. “Having a neighborhood that says we would really welcome more density helped push it,” said Gordon. “The city’s now on record united saying we want to lead on climate change.”

Just hours after the drilling halted, with a new hose in hand, the crew recommenced their boring job.

“To inject heat from buildings in the winter, the Aquifer’s heating well and cooling wells need the water not to move very fast, so heat stays there,” explained Ever-Green Energy’s Nina Axelson, describing how the test drilling will install a “flow sensor.”

Once the test wells are in place, they’ll collect data about how fast the water underneath the sandstone is flowing. Finding out those rates are critical to the success of the project, as low rates of movement will allow the water to work as a thermal battery, while high rates of movement would make the storage system impossible.

If all goes well, construction could begin on the new housing with occupancy sometime in 2022, complete with geothermal heat. It might finally cure an Achilles heel for decarbonizing Minnesota cities, where perhaps the solution, in the form of underground water, has been under our feet this whole time.

Bill Lindeke

Bill Lindeke, Ph.D., is an urban geographer and writer who focuses on how our environments shape our lives. He has taught at the University of Minnesota and Metro State University, blogs at Twin City Sidewalks and streets.mn . Follow Bill on Twitter: @BillLindeke .

Malcolm Yards

julie@wallcompanies.com (Julie Pierce) — Wed, 24 Mar 2021 18:43:48 GMT

Wall Companies newest inspired community. The best is yet to come.

Copy of Twin Cities food hall Malcolm Yards announces more tasty tenants

julie@wallcompanies.com (Julie Pierce) — Wed, 17 Mar 2021 19:21:31 GMT

Twin Cities food hall Malcolm Yards announces more tasty tenants

Look for the food hall to open in May.

By Nicole Hvidsten (https://www.startribune.com/nicole-hvidsten/6134702/)

Star Tribune

MARCH 17, 2021 — 8:52AM

The tenant list is filling up at The Market at Malcolm Yards (https://malcolmyards.market/)

(501 SE. 30th Av., Mpls.) with the additions of Abang Yoli, Advellum Vegetable Eatery and Bebe Zito Ice Cream & Burgers.

Southeast Asian cuisine will be on the menu at Abang Yoli from chef Jamie Yoo, who most recently worked in the kitchen of Bellecour in Wayzata until it closed last summer. Trained as a French chef, Yoo had always wanted to cook the Asian food he grew up with. Enter Abang Yoli. The restaurant, his first, will focus on "modern eating habits" and offer low-carb, gluten-free and dairy-free options.

Malcolm Yards will also be the first location for Advellum Vegetable Eatery

from chef Michael Shaughnessy and his wife, Viorica Pierce. Shaughnessy, an alum of Mill Valley Kitchen and Young Joni, among others, will make vegetables the star of the menu. "We'll be celebrating vegetables in every way we can, with a playful and exciting approach," Shaughnessy said via Instagram.

Ben Spangler and Gabriella Grant-Spangler launched Bebe Zito (https://www.bebezitomn.com/) Ice Cream & Burgers (704 W. 22nd St., Mpls.) last summer, turning ice cream cones into portable parties via off-the-wall flavors and over-the-top pairings. The current weekend-only burger menu will become part of the regular menu at Malcolm Yards, allowing the couple to do what they had planned all along —serve both burgers and ice cream. "They're best friends, they hang out all the time," Ben Spangler said on the market's Facebook page. The three will join Wrecktangle Pizza, Joey Meatballs and DelSur Empanadas when The Market at Malcolm Yards opens in May.

Nicole Ploumen Hvidsten

is the Star Tribune's Taste editor and senior editor of Star Tribune Magazine. In past journalistic lives she was a reporter, copy editor and designer — sometimes all at once — and has yet to find a cookbook she doesn't like.

nicole.hvidsten@startribune.com 612-673-7563

Malcolm Yards set to move forward following county funding

julie@wallcompanies.com (Julie Pierce) — Wed, 02 Dec 2020 19:53:13 GMT

Malcolm Yards set to move forward following county funding

The county allocated $250,000 for affordable housing, but the developer still needs at least $1.8 million to start construction by the end of 2021.

Lydia Morrell, City Reporter

Despite COVID-19 setbacks, the expansive Malcolm Yards development in Prospect Park is moving forward after receiving funding for affordable housing.

Hennepin County approved a $250,000 grant in mid-November for 142 units of affordable housing at Malcolm Yards. The project will need more money from the city and county to start construction, but it is set to start by the end of 2021, following delays caused by the pandemic. The developer, Wall Companies, also hopes to complete a food hall this spring and market-rate apartments by 2022 as part of the community.

The development has been in the works for years as a planned community within Prospect Park that includes mixed-income housing, a food hall, commercial locations and green space. Malcolm Yards fits within the Towerside Innovation District, a northern part of the neighborhood that has been rapidly developed and supported by public and private stakeholders.

“This area was designated as the neighborhood developed nearly a decade ago,” said Dick Gilyard, a Prospect Park Association (PPA)and Towerside board member. “[We] reimagined this area from strictly an industrial area … to an area that would accommodate most jobs, as well as housing, parks, public realm and a real cultural art space.”

The city already gave $1 million for the affordable housing portion, and Wall Companies is waiting to hear back from the city on another $1.8 million request. The project will need more funding from Hennepin County, and Wall Companies project manager Jeff Ellerd said he hopes it will move quickly.

“Affordable housing projects are challenging,” Ellerd said. “You've got to get funding from a whole bunch of different partners.”

The mixed-use building, which includes commercial space and 184 market-rate apartments, is still in the planning stages and requires city funding to move forward.

Towerside board members have been involved with the project since the beginning, with hopes of installing environmentally friendly ways to heat the apartment buildings and manage stormwater.

Diane Rucker, a Towerside board member, said the group is waiting for City Council approval on a districtwide energy system that uses aquifer heating, an environmentally friendly way to heat the buildings using water rather than on-site natural gas.

“The opportunity there is the design of a building can be much more energy efficient, not rely on traditional coal, oil and so on, ”Rucker said.

If the city does not approve it, Malcolm Yards will move forward with a traditional heating system that relies on fossil fuels. Ellerd, the developer, said that the city's decision would have to be made within about six months to be included in the final designs.

Gilyard, from PPA and Towerside, said that neighbors' visions for the site include job opportunities for community members and carbon-reduction strategies that can serve as an example to the rest of the city.

“What we're trying to do through Towerside Innovation District and through the neighborhood is really not to look at these just as individual projects, but how they are a part of a much larger system that introduces new forms of energy that are carbon-reduction technologies,” Gilyard said.

Closed by pandemic, Minneapolis art center takes its shows on the road

julie@wallcompanies.com (Julie Pierce) — Mon, 16 Nov 2020 22:57:14 GMT

STAGE & ARTS

Closed by pandemic, Minneapolis art

center takes its shows on the road

Closed by pandemic, Midway Contemporary Art launches an ambitious "Oﬀ-Site" series.

By Alicia Eler (https://www.startribune.com/alicia-eler/424327523/) Star Tribune

NOVEMBER 12, 2020 — 2:45PM

Footprints mark the light brown sand and dirt of a giant crater that has landed in southeast Minneapolis. Seven ultrabright parking-lot lights illuminate the rocky depression, backlit by the glow of floor-to-ceiling windows in a new apartment complex across the street.

On a recent warm Friday night, groups of people gathered in the 15-foot-deep hole at 445 Malcolm Av. SE. while others walked the edge, carving a trail around it.

This is “Stadium” by Los Angeles artist/musician Jasper Marsalis — the fifth project in Midway Contemporary Art’s series of off-site programs

(https://www.midwayart.org/offsite/) aimed at outdoor or large indoor spaces where it’s easy to social-distance.

“It’s a new way of thinking about getting artists’ voices out into the public,” said Midway director John Rasmussen, who started organizing the series in April as pandemic reality set in. “With what’s going on in our country and our state, it’s important that artists’ voices be heard.”

Midway Off-Site was launched Oct. 7 in an empty warehouse in north Minneapolis with Nicole Miller’s “To the Stars,” an hourlong documentary-ish film featuring a poetic interspersing of stories of hope, pain and memories as told by kids, dancers, an astronaut and other everyday and extraordinary people of color. Screenings wrap up Thursday through Saturday (https://www.midwayart.org/event/off-site_miller/) , limited to 20 people.

“There’s something about the way this project is getting people out,” said Gabriel Ritter, a curator at the Minneapolis Institute of Art. “It doesn’t attempt to say that there is some normalcy to any of this” — pandemic life, that is.

Midway Contemporary Art, a nonprofit visual-arts organization in the Marcy Holmes neighborhood since 2001, is known for its sleek white-cube gallery and library of art books. But with the gallery closed since March (the library remains open for loans), Rasmussen and his wife, associate director Megan McCready, decided to shift to an experimental, site-specific model.

There are several exhibitions on view. An old Ax-Man Surplus Store in St. Louis Park is host to St. Paul artist Bruce Tapola’s “Major Bummer,” a series of paintings and sculpture made during the pandemic.

The HmongTown Marketplace hosts four lightbox- illuminated photos by Pao Houa Her, shot in Northern California, Minnesota and Laos, and Tetsuya Yamada’s public installation “Waiting,” which employs a covered bench used in a Japanese tea ceremony; the artist is posting drawings there over the course of 11 weeks.

Midway has another half-dozen projects in the works through the end of 2021. Rasmussen is currently looking for a storefront space that artists Jonathan Rosemond and Wyatt Lasky can use as a set for a podcast.

Midway is also considering taking projects to rural Minnesota. “We are just going where we can,” said Rasmussen.

Crater speak

“Stadium” is the most ambitious piece so far, located at Malcolm Yards, a 21-acre industrial site being developed by the Wall Companies (https://www.wallcompanies.com/) near Surly Brewing in southeast Minneapolis.

To help with the project, the developers agreed to demolish some buildings a few months sooner than planned to accommodate the project by Marsalis (son of jazz great Wynton Marsalis). He joined Rasmussen and his son James, driving Bobcats through the dirt for two days to dig a hole that’s just a bit bigger than a baseball infield, 145 by 120 feet.

Part of this project is to not explain what it is. Marsalis didn’t want it to become “too sci-fi or fantasy, like: ‘Where is the asteroid?’ ... I felt way more drawn to these experiences that are harder to capture.”

One inspiration came from a music festival he went to in L.A.

“I was able to go backstage and see Dodgers Stadium with all the lights off,” Marsalis said. “It was the most surreal, but most boring, experience because nothing is happening— you’re waiting for potential. But it presents some type of reflection.”

Food hall grows larger in latest Malcolm Yards proposal

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Nov 2020 21:15:47 GMT

A Minneapolis food hall scheduled to open this spring got about 2,000 square feet larger in the latest plans for the Malcolm Yards mixed-use development. The Market at Malcolm Yards grew to about 19,000 square feet in total in the revised plans for the mixed-use development in Minneapolis’ Prospect Park neighborhood, located just west of Surly Brewing. The food hall planned for the former Harris Machinery building is just one

element of a project that also includes two seven-story apartment buildings and nearly

8,000 square feet of additional commercial space.

The additional food hall square footage will mostly be used as back-of-house space

by the chefs, said Patricia Wall, who is heading up the market project for The Wall

Cos., the Minneapolis-based developer behind Malcolm Yards. Wall’s husband, John

Wall, is the company’s president.

She said April is the target opening date for The Market at Malcolm Yards, although

it could welcome guests as soon as March. None of the vendors have been

announced yet, but Wall said there were “approximately seven chefs” lined up for

the market’s nine kitchen spaces.

The Market concept also includes a full bar and a self-service tap wall with 32 beers

on tap. But there’s an anticipation that — with Covid-19 likely remaining a real risk

next spring — many of the first guests will take their food to-go.

“When we open next spring we will have a strong delivery and takeout model,

which is essential to survive during a pandemic,” Wall said.

The project's planners are weighing their options and could avoid working with

third-party delivery companies by hiring their own in-house delivery crew. That

could mean launching with a smaller delivery zone.

“We just want to make it as easy as possible for our guests to get our food,” she

said.

Wall said the initial lineup of Market vendors could be announced later this month

or early in November.

Dylan Thomas

Staff reporter

Minneapolis / St. Paul Business Journal

This is Towerside

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Nov 2020 21:04:46 GMT

$48 million affordable housing project reemerges near Hiawatha Avenue

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Nov 2020 20:52:32 GMT

A plan to redevelop a Minneapolis Public Works storage facility site in the Hiawatha

neighborhood into affordable housing, first proposed in 2017, has re-emerged and will go

before the city's Planning Commission over the next few weeks.

The Snelling Yards Redevelopment project is being led by a joint venture between Minneapolis-based Wall Cos., Minneapolis based Lupe Development Partners and Shoreview-based Ecumen. The project includes 210 total units in two buildings, one for workforce housing at five stories and another for senior housing at four stories.

“It’s a great site,” said Jeff Ellerd, development project manager for Wall, citing the

acreage as well as close proximity to transit and the Minneapolis VA Medical Center.

The project’s site totals 3.5 acres and is located at 3601 E. 44th St., one block away

from Hiawatha Avenue. When the project was first proposed in 2017, the city

recommended approval of a 24-month exclusive development rights of the site to

the joint venture after it held requests for proposals. The rights were since

extended, Ellerd said, adding that it took time to pull together funding sources.

If approved by the city, the $48 million project would likely break ground with the

first building — the senior housing — by spring of 2021. The senior housing building

would cost $22 million and have 100 units. It would aim to be affordable for those

making 30% to 80% area median income.

The workforce-housing building, which would cost $26 million, will have 110 units

and be affordable for those making 30% to 80% of the area median income.

There will be 135 parking spaces on a surface parking lot in the updated plans.

Previously, the development team had proposed an underground parking structure

with 128 stalls, but it was too expensive, Ellerd said.

Apartment units would range in size from studios to two bedrooms. Amenities

include a community garden and shared outdoor patio between the two buildings.

The Planning Commission will decide on the plans on July 6 following a mandatory

comment period.

The project is being designed by Pope Architects.

Caitlin Anderson

Staff writer

Minneapolis / St. Paul Business

Journal

More rentals for Malcolm Yards

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Nov 2020 20:41:11 GMT

A local developer wants to bulk up on housing and reduce commercial space for its proposed Malcolm Yards project, a mixed-use development that includes converting the Harris Machinery Building in Minneapolis into a food hall.

Minneapolis-based Wall Cos. received city approval last year to renovate the Harris Machinery Building, 501 30th Ave. SE, and construct two apartment buildings on adjacent properties at 445 Malcolm Ave. SE and 419-504 29th Ave. SE. Located near the University of Minnesota, the properties are part of a former industrial site between Malcolm Avenue SE and 29th Avenue SE.

On Monday, the Minneapolis Planning Commission will review the developer’s request to revise the project with a slightly larger food hall, 61 additional housing units and a 25,000-square-foot reduction in commercial space. The changes require a planned unit development amendment.

The new plan calls for a 184-unit market-rate apartment building and a 164-unit affordable apartment building. In 2019, the city approved a plan for 140-plus units in each of the proposed buildings.

In addition, Wall intends to turn the Harris building into a 19,000-square-foot food hall, up from 17,000 square feet, and trim 25,000 square feet of commercial space from the market-rate building, according to a city staff report.

Sumter Green Apartments

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Nov 2020 00:04:21 GMT

Exciting new renovations!

The Market at Malcolm Yards

julie@wallcompanies.com (Julie Pierce) — Wed, 04 Nov 2020 01:14:07 GMT

Wall Companies newest inspired community. The best is yet to come.

Kenwood Center

julie@wallcompanies.com (Julie Pierce) — Thu, 12 Mar 2020 23:48:44 GMT

AVAILABLE SPACES

Suite 17745 • 2,997 sqf

Suite 17761 • 2,200 sqf
Suite 17775 • 3,148 sqf

For leasing information,

Call Ted LaFave
M obile • (612) 875-3858

Nic Burn Shopping Center

julie@wallcompanies.com (Julie Pierce) — Thu, 12 Mar 2020 00:17:49 GMT

Wilson Ridge Apartments

julie@wallcompanies.com (Julie Pierce) — Wed, 11 Mar 2020 00:44:44 GMT

Fred Wall, Highland Banks and the Wall Cos., on success, failure and lifelong learning

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 04:21:45 GMT

Fred Wall, chairman of Highland Banks and The Wall Cos., has been through the school of hard knocks.

He’s crashed three times in the real estate business and survived to develop again. At the same time he, and now his son Rick, have built Highland Bank into seven branches.

Now he’s also been through the University of Minnesota, graduating this May with a bachelor’s degree from the College of Continuing Education. He told Upsize what he’s learned along the way.

“My partner and I started on our own. Our first apartment building was at 34th and Emerson. We sold it to investors before it was done and I thought, “That’s pretty good.”

Then I talked with people I’d met in the Jaycees. They said they syndicated real estate. I didn’t know what that was. They said they raised money from lots of individuals. We sold a deal. It turned out to be our biggest commission to date. It was $100,000; we’d get it over three years, and split it between two people. It didn’t exactly put us on easy street, but when you’re broke, it looks good.

This was about 1965. My partner was traveling to Chicago. He saw all the offices being built around the airport. We went back to the syndicators to ask, “Can you raise money?” They said, “Sure.” It turned out later they couldn’t. We bought land from a farmer and Control Data, and built Metro Office Park. Control Data at the time was expanding; the freeway was going out to the airport.

When the syndicators fell through, five of us went to the bank and borrowed half a million dollars. Just three weeks earlier my partner and I were turned down for a thousand dollars. I remember walking out of the bank about four feet off the ground. I thought, “If they knew what I knew.”

At the beginning, as partners, we got along because we were all broke. Once we were making money we couldn’t get along. I started Wall Cos. I bought the land that’s now Normandale Office Park at 494 and Hwy. 100.

Meanwhile, a friend had bought a bank. He asked me to invest. I didn’t know you could buy a bank. In 1960 Alice and I were married. We had three kids. About 1965 we bought a little piece of the bank.

But the real estate business was my first business. Real estate is a risky business. In the early days, I thought this is the best thing since popcorn. But when it turns it’s like a stone rolling downhill. You can’t get out of the way. My world darn near came to a crash.

I bought my partners out. I knew it would be a bad ride. We decided to hunker down. I let everybody go except my secretary. Somewhere, somehow, it’s hard to remember exactly how, we got through. I had three kids, a wife, a house, a car, and no income.

One thing that was a surprise to me is how long it takes to start over again. Your own psyche is so beat up. You’re more risk-averse. Your credit is whacked.

I think having gone through some traumatic crashes, you develop a great deal of respect for people who’ve been through tough times.

The worst crash I had was in the late ’80s. We had owned the Foshay Tower; we ended up having to give that back. We had a big project in Florida, a retirement community. It took me 4 1/2 years to get out of business. I spent 4 1/2 years talking to people who didn’t like me. There’s fear every morning that you’ll lose everything you’ve got.

I’ve told my kids it isn’t so much that people fail in business, it’s that they quit. On the other hand, when you get into a lot of trouble you need to know when to get out.

The banking business is completely different. It’s regulated. It’s smoother to manage. It isn’t easy and we’ve proven that by screwing them up. I ended up buying Highland Bank from Irwin Jacobs, and added branches to those. The banks have been growing 10 percent a year. It’s allowed us to stay in the real estate business.

Back in the worst times, when I finally got out, it was about 1990. I said I have to get going, and I was looking at a mapping company. I was going to invest in it. The next day, I saw in the business section, that company had filed for bankruptcy. I said, “You’re like a quarterback who’d hit his head too many times.” I said, “I’m going to take a year off.”

I had this big boat in Florida, now I’m broke. I’m getting rid of all my toys. But I can’t get rid of the boat because I owe more than I could get for it. I said to Alice, “Let’s go live on the boat.”

I’m going to read great books, things I’ve never read. I said to the librarian, “I’d like a list of the world’s great books.” She opened up the card catalogs and said, “Here are the lists.” She said, “Make your own list.” So I did. I gave it to my secretary, and said, “Buy these books and ship them down.”

What happened in reading those philosophy books, I learned it’s not the answer it gives. It’s the question it asks. I went back to classes at the U. When I got into the degree plan, I wanted to name it, “Who makes the rules?” You get to a certain age, you look back and say, “Who made the rules? Why do I follow them?”

The last class I took was cultural anthropology. It turned out to be about culture, how it was formed, and culture is simply the set of rules and guidelines we follow.

Who makes the rules? We make them.”

— Interview by Beth Ewen, UpsizeMag.com

Water Tower Place

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 01:35:54 GMT

For leasing information, contact Liz.

Stone Arch Apartments 2

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 01:31:47 GMT

Built in 2013. Formerly a rental equipment company site; now 91 units of workforce housing a block from Father Hennepin Park in Minneapolis.

Stone Arch Apartments

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 01:27:26 GMT

Built in 2001. This 221 unit mixed income property was nestled into an industrial area. It was one of the first riverfront apartment buildings to capture the fantastic views of Downtown Minneapolis, the Mississippi River, and the Stone Arch Bridge.

St. Anthony Village Shopping Center

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 01:23:13 GMT

For leasing information, contact Liz.

Main Street Crossing

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 01:14:05 GMT

For leasing information, contact Liz.

Mill City Quarter

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 01:13:22 GMT

Built in 2016. This 150 unit workforce housing project rose from a blighted riverfront railroad property.

Lexington Plaza Shopping Center

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 00:54:06 GMT

For leasing information, contact Liz.

Highland Bank - St. Paul

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 00:46:46 GMT

2100 Ford Parkway • St. Paul MN 55116

For leasing information, contact leasing@wallcompanies.com

Highland Bank - St. Michael

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 00:42:54 GMT

701 Central Avenue East • St. Michael MN 55376

Highland Bank - Minnetonka

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 00:41:15 GMT

1700 Plymouth Road, Suite A • Minnetonka MN 55305

Highland Bank - Maple Grove

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 00:38:38 GMT

13250 Grove Drive • Maple Grove MN 55369

Highland Bank - Bloomington

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 00:32:48 GMT

5270 West 84th Street • Bloomington MN 55437

Foshay Tower

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 00:26:15 GMT

Flour Sack Apartments

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 00:23:06 GMT

Redeveloped in 2007, this urban condominium project boasts a historic look with modern amenities including a green roof, live-work units, and underground parking.

Eastside Apartments

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 00:08:56 GMT

Opened in 2018, this 114-unit workforce housing project is one of the first transit-oriented developments in the Dayton's Bluff neighborhood of St. Paul.

Burnhaven Atrium

julie@wallcompanies.com (Julie Pierce) — Thu, 05 Mar 2020 00:01:50 GMT

1991 Ford Building

julie@wallcompanies.com (Julie Pierce) — Wed, 04 Mar 2020 23:45:25 GMT

Division Street Shopping Center

julie@wallcompanies.com (Julie Pierce) — Tue, 03 Mar 2020 16:33:49 GMT

For leasing information, contact Liz.

Crocus' New Hill

julie@wallcompanies.com (Julie Pierce) — Tue, 03 Mar 2020 16:33:48 GMT

Built in 2015. Wall transformed an old school property into one of the nicest single family home developments to occur in St. Paul in decades.

Metro Office Park

julie@wallcompanies.com (Julie Pierce) — Tue, 03 Mar 2020 16:22:16 GMT

The Wall Companies first commercial development in 1961. Imagine, at that time, hwy 494 didn't go any further east than the Minneapolis airport.

Proposal would heat, cool Minneapolis food hall, apartments with groundwater

julie@wallcompanies.com (Julie Pierce) — Sat, 01 Feb 2020 04:34:48 GMT

This article is from Midwest Energy News, part of the Energy News Network, a nonprofit news site dedicated to keeping influencers, policymakers and citizens informed of the important changes taking place in the transition to a clean energy system.

A Minneapolis developer wants to tap into aquifers to heat and cool a planned food hall and apartment complex on the city’s eastern edge.

If successful, the project could offer a model as Minneapolis looks to reduce its reliance on natural gas — the dominant source of heating in the notoriously cold city and also its largest source of carbon emissions.

Wall Companies is working with Ever-Green Energy and Underground Energy on an aquifer thermal system for its 17-acre Malcolm Yards project, part of the emerging Towerside Innovation District near the University of Minnesota.

Aquifer thermal energy uses a system of wells and heat exchangers to store and recover thermal energy underground. In the summer, heat is extracted from buildings and transferred to an aquifer. In the winter, the system is reversed, with warm water pulled up and circulated to heat buildings.

The concept is common in Denmark and other parts of Europe but relatively unknown in the United States, with few projects in operation and none on the scale being considered for the Minneapolis project.

Ever-Green Energy, which also manages St. Paul’s District Energy heating and cooling network, has advised several geothermal exchange proposals around the country, including San Francisco’s Mission Rock development, which would use bay water to heat and cool 2.7 million square feet of apartments, offices and commercial space.

As more cities look to move beyond natural gas, heating remains a challenge in colder climates. Electric heat is often an expensive option and requires a substantial load for multifamily buildings. Geothermal systems — with enough partners — can make more financial sense, especially for new developments.

“That’s what’s great about these projects that are starting from scratch,” said Nina Axelson, Ever-Green’s vice president for sustainability and outreach. “The energy infrastructure can be built first, and then the buildings added. It’s easier than trying to retrofit several existing buildings or a campus.”

As more buildings are attached to the system, the cost significantly drops. At least three other developers in the Towerside district have expressed interest in tapping into aquifer thermal for heating and cooling. Wall Companies is also considering making participation a requirement for buyers.

“It has taken a lot of work, but we believe it’s the right thing to do and that this is the right opportunity,” said Jeff Ellerd, project manager for Wall Companies. “It’s time for a nontraditional heating and cooling source that can serve our development and others.”

Minneapolis has a goal of reducing carbon emissions by 80% by 2050, a hard slog when few heating sources exist as inexpensive as natural gas. The Towerside project could offer a blueprint for several other large redevelopment plans underway where geothermal exchange district energy could work.

“We have to do something about decarbonizing heating and more electrification of building heating,” said Robin Garwood, an aide to City Councilor Cam Gordon, who represents the neighborhood. “This system is one of the best examples I’ve seen using currently available technology to move toward full decarbonization and electrification.”

The Towerside district planners initially explored an idea to harvest heat from sanitary sewers but could not get approval from the Metropolitan Council, which manages the region’s wastewater systems. With sewer heat hitting a dead end, Ever-Green proposed aquifer thermal energy storage for Towerside.

In the beginning, the aquifer thermal system will be more expensive than running natural gas to each unit. The developer might be able to charge above-market rates for apartments by promoting them as carbon neutral. Property assessed clean energy financing, or PACE, could provide additional support, Ellerd said.

Wall Companies is also seeking support from the city. It expects to bring a budget and plan to the City Council within the next two months. The City Council would have to agree to allow the sale of bonds to back up the investment. The city’s bond fund has a long track record of successful investments, including the renovation of stages in the city’s theater district.

Without financial backing from the city, the aquifier thermal energy system will not go forward. Few developers could invest in such an ambitious and relatively untried approach. “The city needs to be a player because we can’t scale it,” Ellerd said. “I think that if it doesn’t happen here, it won’t happen anywhere.”

- By Frank Jossi, Midwest Energy News | 01/31/2020

Western Row

julie@wallcompanies.com (Julie Pierce) — Thu, 09 Jan 2020 01:41:27 GMT

Built in 2007. This urban infill, award-winning rowhouse design condominium project combined modern living within an historic neighborhood.

Fountainview

julie@wallcompanies.com (Julie Pierce) — Fri, 03 Jan 2020 00:28:52 GMT

Village Green Apartments

julie@wallcompanies.com (Julie Pierce) — Thu, 02 Jan 2020 01:38:16 GMT

Normandale Office Park

julie@wallcompanies.com (Julie Pierce) — Thu, 02 Jan 2020 01:20:34 GMT

An early player in the live/work concept, this community was strategically located near Hwy 494, the airport, and Highland Lake Park Reserve.

Prospect Park’s Food Hall Expects to Open Spring, 2020

julie@wallcompanies.com (Julie Pierce) — Tue, 16 Jul 2019 03:28:59 GMT

Malcolm Yards will include nine kitchens, and a whole lot more

The Malcolm Yards Market food hall, which is part of an overarching development called Malcolm Yards in the Prospect Park neighborhood in Minneapolis is marching forward with an expected opening of next year. Earlier estimates had Malcolm Yards Market – and the surrounding development – opening in 2018, but that date has since been pushed back to spring 2020, according to the president of the Malcolm Yards Project, Patricia Wall.

“We’re going to have a full bar, a self-pour tap wall, and nine kitchen concepts,” she said. Wall fell in love with an expansive market on Granville Island in Vancouver, Canada and, ever since then, creating a food hall has been Wall’s dream. But this isn’t about recreating something that already exists.

“We’re not trying to emulate anyone or anything,” she said. “It’s more about creating a ‘feeling.’” Wall talked about how a good food hall can make patrons feel special and excited, and that’s exactly what the Walls hope to create with Malcolm Yards Market.

At the moment, Wall said that there are “many chefs and restaurateurs who would like to be in the food hall; four or five are very serious and ready to sign.” These names will be released in the fall, but until then, she teased several shops include coffee, a Japanese spot, and a vegan place.

The food hall will lean into the technology trend. The development team is working with software companies to create an experience where guests won’t have to stop at each location to pay. Instead, there are talks of potential SMS alert systems to notify when food is ready and RFID payment tech that would be automatically charged to a debit or credit card.

“This is all in place to ease the guest experience so you don’t have to stop and check out at each vendor,” said Wall.

Wall spoke of an environment where people could order food and drink; walk and relax freely amongst the premises, allowing for a seamless experience. Chairs, community tables, and couches are planned to be strewn throughout the inside and outside.

Another quality that differentiates Malcolm Yards Market from other local food halls is that there won’t be a sit-down, anchor restaurant, nor will there be a retail space within its 16,500 square feet.

The food hall is part of a neighborhood within a neighborhood development, including two 150-unit apartment buildings. They also hope to attract company HQ’s, jobs, and even more space for apartments in the future.

A block away will be an Irish whiskey distillery. Wall Cos. are assisting the O’Shaughnessy family in developing this space and the included tasting room.

It’s in part due to this scale, they’ve encountered challenges along the way. But cooperation with the city of Minneapolis and nearby University of Minnesota, in addition to other local entities has ensured that the Malcolm Yards lives on.

“We’ve had a lot of fun working on this project. It’s a dream,” she said, but even better is that they’re being welcomed. “The city has been supportive, the University of Minnesota has been supportive, and the neighborhood’s excited. I can’t wait.”

- by Matt Gundrum Jul 15, 2019 - twincities.eater.com

Wall goes big with $51M Crystal Village buy

Thu, 24 Jan 2019 12:51:15 GMT

Wall goes big with $51M Crystal Village buy

Commercial real estate developer Wall Cos. has purchased a huge Crystal apartment complex in a successful bid to replace a recently sold apartment community with a bigger one.

Minneapolis-based Wall paid $51.25 million for the 462-unit Crystal Village apartments at 3010-3060 and 3131 Sumter Ave. N., according to certificates of real estate value made public on Wednesday. The 51-year-old complex is in the northeast quadrant of Highway 169 and 55. The property is the second-largest of 31 apartment properties Twin Cities-based BT&A put up for sale last year, and is now the largest complex Wall owns.

The largest BT&A transaction out of the portfolio came on Nov. 15 when Golden Valley-based Bigos Management paid $66 million for the 540-unit Villages on McKnight at 165-183 McKnight Road N. in St. Paul.

The Crystal Village sale, which closed on Jan. 15, works out to $110,931 per unit, below the $132,960 Twin Cities average, according to the Finance & Commerce Apartment Sales Tracker. The tracker has recorded the sale of 49,500 apartment units since 2011.

Hennepin County values Crystal Village at $32.8 million for tax purposes.

Wall purchased Crystal Village as part of a 1031 exchange after selling in October the 196-unt Village Green apartments at 460 Mississippi St. NE in Fridley for about $25 million, said Elizabeth Lee, Wall’s vice president of acquisitions. The company searched for about two years for a property with about twice as many apartments as Village Green, she said in a Thursday interview.

“We looked at a lot of properties,” Lee said, noting that Villages on McKnight was one of them.

The 10-building Crystal Village offers units ranging in size from a 439-square-foot studios, to two bedroom apartments measuring 936 square feet of space. The average rental rate in the complex is $914 a month, according to CoStar. That is less than $1,188 Twin Cities average tracked by the most recent Apartment Trends report from Marquette advisors.

Amenities at Crystal Village include two outdoor swimming pools, laundry rooms on almost every floor of the three story buildings and covered parking, according to the complex’s website.

Crystal Village has a 0.9-percent vacancy rate, CoStar shows. The apartment vacancy rate Crystal is 1.2 percent, according to the Apartment Trends report.

Wall Cos. made the purchase as it moves forward with development on mixed-use apartments and retail space at the Malcolm Yards project in Minneapolis’ Prospect Park neighborhood. Wall is planning a 145-unit market-rate apartment building with 33,000 square feet of commercial space, a 142-unit affordable apartment building and a 16,500-square-foot food hall for the 4.69-acre project site, which is bounded by Malcolm Avenue to the east and 29th Avenue Southeast to the west. The Minneapolis Planning Commission is considering on Jan. 28 whether to recommend a planned unit development designation for the site.

Wall has developed and owned more than 1,200 apartment or condominium units, and more than 2 million square feet of retail, office, and industrial property, according to its website. The company plans to own Crystal Village long term, and possibly in essentially the same condition it purchased the property, Lee said.

“We’re working on determining on what our next moves will be, if any,” she said of future improvements and renovations. “If we find there is demand from residents for improvements, we’re happy to entertain those.”

Wall paid toward the “upper end of where we wanted to go” for Crystal Village, Lee said. The competition for available apartment properties in the Twin Cities contributed to that.

“It’s hard to buy apartments today,” she said.

The Crystal sale marks the final closing for the BT&A portfolio, said CBRE Senior Vice President Ted Abramson this week. The Minneapolis office of CBRE marketed BT&A’s portfolio. BT&A and several other companies owned by the same Minnesota family put the 1,865 apartments in the portfolio on the market because it was “time for the family to sell,” Abramson said.

Snelling Yards proposal echoes Mill City Quarter

julie@wallcompanies.com (Julie Pierce) — Tue, 25 Jul 2017 05:00:00 GMT

Snelling Yards proposal echoes Mill City Quarter

A joint venture between Lupe Development Partners, Ecumen and The Wall Cos. is in the process of securing the rights to redevelop Snelling Yards, a site near the Blue Line’s 46th Street Station in Minneapolis.

The $43.3 million project, at 3601 E. 44th St., calls for two buildings — one with 100 workforce apartments and another with 103 senior units, a plan similar to another project the team completed last year. The Snelling Yards land is on the western half of a block bounded by 44th and 45th streets and Snelling and Hiawatha avenues.

A City Council committee on Tuesday recommended giving the joint venture exclusive redevelopment rights to the site for the next 24 months. The full City Council will consider the measure on Aug. 4.

Once the project is complete, the joint venture promises to lease the one- and two-bedroom apartments at rents affordable to residents making 50 to 60 percent of the area median income, which was $85,800 in 2016, said Tiffany Glasper, a senior project coordinator in residential finance with the city of Minneapolis. That works out to rents ranging from $800 to $1,100 a month.

Steve Minn, a Lupe vice president and principal, described the Snelling Yards project as a sort of reprise of an earlier collaboration by the same companies — the Mill City Quarter/Abiitan Mill City development on the 300 to 400 block of South Second Street in downtown Minneapolis. That development, which opened in 2016, included two adjacent buildings for workforce housing and senior units on former city-owned land.

“It took us eight years to get [the Mill City] deal done, but since then it’s been so successful that we started looking at other sites where we could replicate it,” Minn said in an interview Tuesday.

There was just one problem: The group would need a spot with three acres or more to make such a development work and parcels that generous are few and far between in the city, Minn said.

Their luck changed in April 2016 when the city issued a request for proposals to gin up interest in redeveloping the site on East 44th Street, which it currently uses to store signs and garbage carts, Glasper said. Proposals were due by July 2016.

The city received two responses: one from Minn’s group and another from Plymouth-based Dominium.

The city initially favored Dominium’s pitch, though the two proposals were quite similar. Dominium also proposed workforce and senior units in two separate buildings.

Glasper said the city preferred Dominium’s design, but the company bowed out before the city could award it the rights to the site. Dominium Vice President Owen Metz said the company was looking for the right financing mix, which would require soft funds, seller financing and tax increment financing.

“After meeting with City staff it was determined that it was unlikely the combination of funds above would be available for the re-development so we stepped away,” Metz said in an email.

Thus the award will go to Minn and his partners. The city is still dissatisfied with the design.

“We were not enamored of the original site plan,” Glasper said. “It can be much more aesthetically pleasing and a lot more can be done to enhance the pedestrian experience on the 45th Street side.”

The joint venture is in the process of changing its plans to conform to the city’s wishes, Minn said.

Another issue still pending is the sale price. The city asked for $3.06 million in its RFP, and Minn’s team is offering $2 million for the site. Glasper said that part can wait.

“It’s too early to get down to brass tacks about it. We’ll get to that six months from now, when we see how well [the project] is being received by other funders,” she said.

Minn said the group will spend much of the next two years securing all the tax credits, grants and subsidies it will need to finance the project. Once the financing is nailed down, they can begin work. Minn said the project will take about 12 months to complete.

St. Paul-based Pope Architects is doing the design work. The general contractor is Frana Cos. of Hopkins.

Lupe and Wall Cos. are based in Minneapolis. Ecumen is a senior care and housing provider based in Shoreview.

- By Clare Kennedy - Finance & Commerce

New urban food hall coming to Minneapolis

julie@wallcompanies.com (Julie Pierce) — Tue, 13 Jun 2017 05:00:00 GMT

Public Market for Minneapolis

When John and Patricia Wall travel around the country and beyond, they make a point of stopping at any urban food halls they find.

In 2015, the pair of real estate and commercial developers were in Vancouver's Granville Island Public Market when Patricia wondered aloud, "Why don't we have one of these?"

Now, two years later, they're answering that question by creating Malcolm Yards Market (malcolmyardsmarket.com), slated to open in fall of 2018.

The project which will find its home in the former Harris Machinery Co. building at 501 30th Av. SE. near the Surly Brewery Co. (520 Malcolm Av. SE., surlybrewing.com), will center around restaurants and bars rather than other produce and shopping vendors.

Buoyed by a $500,000 grant from Hennepin County and the state, the food hall will include at least one full service restaurant as an anchor tenant and a rectangular bar in the middle of the 16,500-square-foot space, which Du Nord Craft Spirits (dunordcraftspirits.com) will operate.

All other eight to 10 vendors remain under wraps, although Patricia said she has come to tentative agreements with 20 chefs and restaurateurs serving up everything from burgers, tacos and wood-fired pizzas to curries, ramen and poke bowls. Because the Walls are looking for options that aren't available in the area, some of the offerings will include new concepts from familiar names.

"We really want a variety of gourmet fast food," she said. "Dishes that are high-end, challenging, creative and very fresh."

The hope, as the Walls attempt to rewrite a liquor license amendment, is that patrons will be able to grab a drink at the center bar and stroll around to the various vendors, beer or cocktail in hand.

As the law currently stands, any drinks would have to remain in the center bar area.

The Walls also intend to construct a greenway from the nearby Prospect Park stop on the light rail's Green Line, which would connect the market and continue towards Surly.

For the market, the Walls plan to have exterior walls near the patio dining area painted and repainted periodically by local artists.

"We want to give people many reasons to come," she said. "This should just be a fun place to go, to grab a drink, to get a bite and hang out."

- By Amelia Rayno JUNE 13, 2017

Midwest Climbing plans rock climbing center in Minneapolis near Surly

julie@wallcompanies.com (Julie Pierce) — Fri, 26 May 2017 05:00:00 GMT

Midwest Climbing plans rock climbing center in Minneapolis near Surly

A new climbing wall complex is planned near Surly Brewing Co. in Minneapolis.

Midwest Climbing wants to open the facility at 518 Malcolm Av. to offer different types of rock climbing, including bouldering and sport climbing.

“Midwest Climbing aspires to be a social hub, welcoming to all, where people are supported and encouraged to challenge themselves both mentally and physically in the sport of climbing,” Rebecca Celis, associate vice president for design firm HGA, wrote in a letter to city staff.

According to city documents, the climbing facility would have a dramatic, sloped roof inspired in part by the Sawtooth Mountains near Lake Superior and would be clad in mostly metal panels. The second portion of the building that would make up the main entrance will resemble a small box.

The facility would have more than 18,000 gross square feet of space, which would include changing rooms, a retail area and space for workout machines.

By Nicole Norfleet - Star Tribune

Mill City Quarter wins Top Projects of 2016 Award

julie@wallcompanies.com (Julie Pierce) — Tue, 16 May 2017 05:00:00 GMT

Mill City Quarter wins Top Projects of 2016 Award

Mill City Quarter was honored as one of Finance & Commerce's Top Projects of 2016 at a special ceremony on July 26, 2017.

Mill City Quarter will also be featured in the August 25th edition of Finance and Commerce.

http://finance-commerce.com/top-projects-new/projects/

http://finance-commerce.com/2017/05/finance-commerce-announces-top-projects-of-2016/

wall

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Top Projects of 2021: The Market at Malcolm Yards

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Malcom Yards Was Never Just About the Food

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The Market at Malcolm Yards Opens With a Globetrotting Lineup of Vendors

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After delays, Snelling Yards work set for fall

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Groundbreaking low-carbon geothermal project might emerge in Prospect Park

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Wall goes big with $51M Crystal Village buy

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Snelling Yards proposal echoes Mill City Quarter

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Midwest Climbing plans rock climbing center in Minneapolis near Surly

Mill City Quarter wins Top Projects of 2016 Award

Mill City Quarter wins Top Projects of 2016 Award

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