MINNEAPOLIS-The historic Plymouth Building here is to be converted from office use to rental apartments. The conversion will also include a new restaurant and bar.
TrueCore, the owner of the 12-story Class B building at 12 Sixth St. S. is planning to spend $33 million on the adaptive reuse project, according to the Minneapolis/St. Paul Business Journal.
Todd Phillips, managing partner of TrueCore, which is based in Minneapolis, says that his firm signed a contract in January to buy the 103-year-old building for an undisclosed price. The sellers are an investment partnership that bought it in 2002 for $14.5 million.
The new owner plans to build 252 units, including 195 one-bedroom apartments. See story in the Minneapolis/St. Paul Business Journal.
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