It feels like only yesterday the city of Minneapolis was coming together to honor the beefy, cheesy legacy of one of Uptown’s great institutions: Arby’s Island.
There were songs. There were candles. There were Sharpie-scrawled messages of love for the shuttered fast food joint and its giant ten-gallon hat sign. And there was, layered under it all like mayo on a Smokehouse Brisket, the understanding that this lot—once home to curly fries and horsey sauce—would probably, practically inevitably, become apartments.
The Minneapolis/St. Paul Business journal confirmed as much Monday afternoon: A six-story high-end apartment building (“with fancy amenities”) has been proposed for the lot at 1116 W. Lake St. The new complex would have 170 units, with 4,000 square feet for retail on the ground level.
The buyer? Reuter Walton Development—the same firm that recently announced plans for a 239-unit apartment building on the 1400 block of Nicollet Avenue, which currently houses Salsa a la Salsa, Market Bar-B-Que, Asian Taste, and others.
Most apartments at Reuter Walton’s latest will run you between $1,250 and $1,850, with about a quarter going for $2,000 to $2,500 a month. The Business Journal reports that there will also be a “fair amount” of parking—as in, 90 percent of units get a stall.
What does your rent money get you besides a parking space? It sounds like the aforementioned amenities include a game room, a fitness center, a community room (with outdoor terrace and pool), and a rooftop deck (with views of downtown).
Cheddar-drenched beef between a bun, this ain’t.
The plan is for construction to start in January, assuming the city approves the proposal.