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28-Unit Project Latest for Conversion Start-Up

MINNEAPOLIS-Financial Freedom Realty's new condo project near Lake Calhoun called the Edgewater is expected to be ready next year. The start-up firm has already worked on $150 million in properties, including 500 units that have been converted to condominiums, with an additional 500 coming on line in the next 12 months.

By Jim McCartney | Updated on February 28, 2005

MINNEAPOLIS-A 28-unit luxury condominium project called the Edgewater is under construction near Lake Calhoun by a start-up conversion firm quickly making an impact in the Twin Ciites market. The six-story project is being built by Financial Freedom Realty Services, a locally based firm that says it already has worked on more than $150 million in properties, 500 converted units developed and marketed and 500 more coming on-line within the next year.

Financial Freedom Realty was founded in September 2003 by 30-year-old Clark Gassen, and a handful of venture partners. On the Edgewater, Gassen is collaborating with architect David Graham, a principal at locally based Elness Swenson Graham Architects Inc. Other partners include Domain Architects, a firm based in Uptown; locally based Kraus-Anderson Construction Co.; and Excel Bank Minnesota of Minneapolis.

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