Kraus-Anderson begins construction on Wells Fargo & The Larking
Downtown Minneapolis multi-use development features new Wells Fargo branch, 16-story residential tower and retail
MINNEAPOLIS, Minn. (July 17, 2019) – Kraus-Anderson (KA) has begun construction on a multi-use development project featuring a new Wells Fargo branch, The Larking residential tower and street retail, located in downtown Minneapolis at 8th and Portland Ave. across the street from KA’s new headquarters.
Designed by ESG Architects, the two-phase, multi-use development replaces the current Wells Fargo branch with a new 3,500 square foot branch opening in the spring of 2020. Following the completion of the Wells Fargo branch, The Larking, a 16-story, 341-unit market-rate apartment building rich in lifestyle amenities, will open in early 2022.
Kraus-Anderson is developing the site in a joint venture. A groundbreaking ceremony took place July 16.
Wells Fargo Bank
Phase one replaces the current Wells Fargo bank with a new 3500-square-foot facility. The existing building will remain in operation throughout construction, which is expected to be completed by March 2020.
Following completion of phase one, KA will immediately begin phase two, which will include the demolition of the old bank building and construction of The Larking.
The Larking
The Larking is branded as the sister property to HQ Apartments, which is owned by Kraus-Anderson and part of the KA Block development that was completed in 2018. The KA Block development is home to KA’s new five-story, 100,000-square-foot headquarters, HQ Apartments, The Elliot Park Hotel and Finnegans House.
The Larking is a 16-story residential complex that will deliver 341 market-rate apartments ranging from studios to three-bedrooms units, featuring solid surface countertops, LVT flooring and stainless-steel appliances.
Amenities include a fitness center, golf simulator, sauna, game room package lockers and work-from-home suites. Residents will also enjoy a private dining room and kitchen, rooftop pool, indoor/outdoor clubroom, ground floor outdoor courtyard and 247 underground parking stalls.
The multi-use development will include 12,900 square feet of street retail.
Construction of The Larking is expected to be complete in early 2022. Property management of the apartments is anticipated to be provided by Saturday Properties.
About Kraus-Anderson
Established in 1897, Kraus-Anderson Construction Company is one of the nation’s premier commercial general contractors and construction managers. Kraus-Anderson Development Company, part of the family of Kraus-Anderson Companies, is a comprehensive real estate services provider with expertise in site selection, master planning, land and building acquisition, financing, facilitation of municipal processes and entitlements, portfolio and property management and leasing. Kraus-Anderson, an EEO/AA employer, is headquartered in Minneapolis, Minn. and has regional offices in Madison, Wis., Bismarck, N.D., and Duluth, Bemidji and Rochester Minn.