The Ackerberg Group, the locally based developer of the project, agreed to cut three stories of the luxury condo tower, lowering it to 10 stories from 13 stories, or to 112 feet from 148 feet. The developers were previously worried that the project would not work economically without the extra units.
The project, which would also include offices and shops, is planned for near the corner of Hennepin Avnue S. and Lake Street. The developers have plans to transform a large surface parking lot in a complex with a plaza, two towers, an expanded movie house and underground parking.
Elected city officials, echoing residents' concerns, had feared the height of the residential building would be out of scale compared with the neighboring buildings, which rise no higher than six stories. The developer had argued the scale of the project was needed earn back its costs and noted that they were not asking for any public subsidies.
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