WHY IT WORKED: Located on what once was a vacant parking lot surrounded by single room occupancies and Section 8 housing, Grant Park shows that the right product targeted to the right market can work despite what could have been overwhelming obstacles.

  • First new residential development in downtown Minneapolis in 20 years. Three-acre complex includes 43 townhouses, 288 tower condominium units, and 513 parking stalls.
  • The original developer, Apex Asset Management, worked with Chicago-based marketing consultant Garrison Partners to target the young-professional market, reducing the size of some of the units to as small as 853 square feet to make the numbers work.
  • Each of the five “city homes,” or town-houses, offers a private entrance, large living spaces, and convenient parking. Amenities offered in the nearby condo tower—indoor pool, spa, fitness and party rooms—are also available to town-house owners.

    • Project Credits

    Project: Grant Park, Minneapolis; Sales started: March 2002; Sales through April 2004: 304; Units planned: 331 (284 regular condos, four penthouses, 43 townhouses); Price: regular condos, $154,900 to $624,900; penthouses, $909,800 to $1,095,000; townhouses, $324,900 to $699,900; Unit size: regular condos, 853 to 1,937 square feet; penthouses, 3,230 square feet; townhouses, 1,006 to 2,524 square feet; Builder: Opus Northwest, Minnetonka, Minn.; Developers: Apex Asset Management, Minneapolis; Opus Northwest, Minnetonka; Architects: Humphreys & Associates, Dallas; Opus Northwest, Minnetonka; Land planner: Damon Farber & Associates, Minneapolis

    Learn more about markets featured in this article: Chicago, IL, Atlanta, GA.