That's at the heart of the revitalized Warehouse District, one of the key entertainment and residential neighborhoods in Minneapolis. What's more, it's not far from theMississippi River, an area undergoing its own revitalization.

"It is a perfect location for those who want all that Minneapolis has to offer – the beauty and recreation of the river, the convenience of living Downtown near work, restaurants, shopping and nightlife," says B.J. Spathies, founder and CEO of Chicago-based BEJCO. "We believe there is a strong demand for homes at the top of the market in this area."

Spathies says about 134 luxury units will be available, and an on-site sales center will be open in this month at the corner of 1st Street North and 4th Avenue North. A summer groundbreaking is planned, with construction of the development expected to take 24months.

The condominiums range from 893 sf to 4,000 sf with nearly 10-foot high ceilings. Each residence will have at least one private outdoor balcony. Some homes will have terraces that open onto the landscaped courtyard.

Tenth-floor residences have loft space with access to a rooftop terrace. Only one 4,000-sf penthouse will be offered and will feature phenomenal city and river views from an expansive rooftop terrace.

Many of the one- to three-bedroom residences will have views of the Downtown skyline or Mississippi River.

The architectural design was a collaboration of Bruce Knutson Architects of Minneapolis and DeStefano+Partners of Chicago, Spathies says.