Search
 

Construction Starts on $17.5-Mil Condo Conversion Project in Lowertown

ST. PAUL, MN-The Great Northern Lofts are being built in the historic former offices of railroad tycoon James J. Hill. The project is the third Lowertown condominium development to get under way this year.

By Jim McCartney | Updated on February 14, 2001

ST. PAUL, MN-Construction is underway on converting the historic and long vacant James J. Hill Office building in the Lowertown area of downtown St. Paul into residentialcondominiums. Buyers have already committed to 38 of the 48 units that will be built as part of the $17.5-million project, which is called the Great Northern Lofts.

Cornerstone Group, based in Bloomington, MN, and longtime St. Paul developer Sherman Rutzick have started work on the 112-year-old historic building, creating condominiums that will be offered for sale starting from $165,000 and going up to $880,000. The 100,000-sf brick building at 281 E. Kellogg Blvd. has been vacant for about three decades, ever since the Burlington Northern moved out. Burlington Northern was the success to Great Northern Railway, the railroad company that was founded by James J. Hill.

Principals at Cornerstone “cut their teeth” in the commercial real estate market through a firm called Artspace, which converted a number of warehouses in Lowertown to artist lofts in the 1980s and 1990s, said Jay Nord, a real estate agent with Edina Realty who is selling the condominiums.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.