Hines, in partnership with AFL-CIO Building Investment Trust and Marquee Development, has announced the completion of a mixed-use development, North Loop Green, in Minneapolis, US.
The project includes 350,000ft² of office space, 350 luxury market-rate and 100 short-term rental residences, and 10,000ft² of food and beverage offerings.
It is said to have leased 70% of its office space to a diverse group of tenants such as Piper Sandler, ESG Architecture & Design, KPMG, and Värde Partners.
It has also recently added food and beverage outlets such as Bassett Hound, Salt & Flour Kitchen, and Hope Breakfast Bar to the on-site offerings.
Hines managing director Bob Pfefferle said: “This project leverages our expertise in creating placemaking destinations and provides the Minneapolis community with new ways to live, work and enjoy all that the city has to offer, acting as a hub of engagement, inspiration and enjoyment.”
This announcement also comprises the completion of North Loop Green 360 (NLG360), a part of the broader North Loop Green project.
NLG360 offers a range of studio and three-bedroom units, alongside amenities such as outdoor terraces, a Sky Lounge, and a fitness centre.
The company notes that residents began moving in February this year and the residential tower has achieved a 60% leasing rate.
North Loop Green also includes a one-acre public green space, known as the Green, which opened earlier this month.
Marquee Development managing principal Eric Nordness said: “Our vision for the Green is for it to become a year-round destination and gathering place for neighbours and visitors alike.
“We’re thrilled to officially introduce the community to North Loop Green and to provide a welcoming space for everyone to enjoy, in collaboration with our partners at Hines.”
Located in the North Loop neighbourhood adjacent to Target Field, North Loop Green development has been partially funded through Hines US Direct Investments.
Last month, Hines and real estate investment company Trez Capital marked the ground-breaking of Northspur, a 700-acre master-planned community in Terrell, Texas, US.
