BLOOMINGTON, MN-The city has approved a final development planfor a multi-use project here at the intersection of Penn Avenue andAmerican Boulevard. The $50 million first phase, a joint venture ofUnited Properties and StuartCo, will have 234 apartments and 14,000square feet of retail, and later phases will also include officebuildings.

United has been trying to redevelop the property, which holdstwo vacant car dealerships, since 2005. “I think we’ve had morethan 100 site plans,” says Brandon Champeau, development managerwith United. “We started with condos, then shifted tooffice/hotel…each market fizzling as the economy took a nose dive.The plan really took off with StuartCo’s plan for rentalhousing.”

The plan for the 3-acre first phase includes three buildings. Afour-story facility will have 14,000 square feet of retail andrestaurants and 60 apartments, and there will also be aneight-story building with 152 units and a four-story townhomeproperty with 22 units. The complex will be named GeneseeApartments.