(Read more on the multifamily market.)
MINNEAPOLIS-United Properties Residential has purchased two landparcels to build new Applewood Pointe cooperatives for seniorcitizens. The buildings are going up in Roseville andMinnetonka.
The company plans to build a four-story, 61-unit cooperative on3 acres in Minnetonka at Rowland Road and Lone Lake Park. Plans forthe property include a trail on adjacent city land to expand theexisting park trail system. Construction will start next summer,according to a company statement. A United Propertiesrepresentative could not be reached for comment.
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