TCC and IRET Properties Announce Multifamily Development in Golden Valley

Trammell Crow Company, through its wholly owned subsidiary High Street Residential™, in conjunction with Investment Real Estate Trust Properties (“IRET Properties”), a self-advised real estate investment trust that owns and operates multi-family residential properties and commercial office, medical, industrial and retail properties located primarily in the upper Midwest, will develop a six-story, 260,000 square foot building comprised of 165 Class A luxury residential units on two acres. The project, known as “Arcata”, is located adjacent to the Colonnade Office Tower and south of Golden Hills Office Center on Golden Hills Drive, near The Shops at West End. Construction is scheduled to commence in 3Q 2013.

“We are excited to work with IRET Properties and deliver a new, premier residential community that will provide residents with luxury housing and amenities,” said Grady Hamilton, Principal and Head of Trammell Crow Company’s Midwest Business Unit. “Arcata provides an opportunity for residents to live in a centrally located, accessible, amenity driven and employment rich suburb of Minneapolis-St. Paul.”

Arcata will offer studio, one bedroom, one bedroom plus den and two bedroom residential units. Prominent features of the project include contemporary design, resort style pool, clubroom and fitness center, along with a two-story, heated parking garage with 215 parking spaces.

Arcata is located off I-394 and Xenia Avenue, within ten minutes from downtown Minneapolis. Golden Hills Drive will offer ingress and egress to the residential parking garage. The project will be in close proximity to The Shops at West End, the Cedar Lake Bike Trail, Chain of Lakes, as well as many major suburban office destinations. ESG Architects of Minneapolis, MN will serve as lead architect for the project.