Mayor Frey and Eleven Team Break Ground on $190 Million Project
Wednesday, October 9, 2019 at 10:34AMVia an October 9 News Release:
The ceremony, which took place on the Eleven site in front of a 30-foot visual of building, included from left to right, Brian Murray, CEO of Ryan Companies, Carl Runck, Director of Real Estate Development for Ryan Companies, Luigi Bernadi, CEO Arcadia Management LLC, Dave Weinberger, CFO Arcadia Management LLC, Mike Ryan, President North Region Ryan Companies and Paul Whalen, Partner at RAMSA.Minneapolis Mayor Jacob Frey and the team from Eleven, Minneapolis’ first luxury condominium project, recently broke ground on construction for the $190 million project.
Eleven is the first residential project in the city to be designed by Robert A.M. Stern (RAMSA), based in New York City. Luigi Bernardi of Arcadia LLC is serving as the project sponsor and co-developer and Ryan Companies is serving as co-developer, builder and is partnering with RAMSA as the architect.
The 550-foot, 41-story Eleven tower will be Minneapolis’ tallest residential building.
Soon to be the premier address in the Mill District, Eleven will typically have four units per floor, transitioning to two units per floor, and finally one unit per floor in the upper portion of the building. Each home includes a large private terrace which is at least 14 x 14 feet. RAMSA, Ryan, and local firms Peterssen/Keller Architects and Martha Dayton Design and Sotheby’s International Realty have ensured the building interior is as thoughtful as its exterior.
Amenities include a large landscaped terrace that will be unlike any other in the city including a 75-foot lap pool, a private motor court, a 24/7 doorman, an expansive fitness suite, a multi-sport court, a library, a golf simulator, a children’s splash pad, retail space (ideally for a restaurant), a demonstration kitchen with dining, residential and guest parking, storage, and more. More information and additional visuals can be found on the website, elevenontheriver.com.
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About Arcadia LLC
Luigi Bernardi serves as president of two real estate development and investment companies, Arcadia LLC and Aurora Investments which began developing Twin Cities commercial real estate in 1987. Now, focusing on medical-related facilities and multi-family residential development, recent projects include the Velo luxury apartments in downtown Minneapolis’ North Loop neighborhood and Aurora on France in Edina.
About Ryan Companies US, Inc.
Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, architect, capital investment consultant, builder and real estate manager with a focus on bringing lasting value to its customers and the communities in which it works. Ryan’s market focuses include residential, retail, industrial, healthcare, corporate office, and senior living. Ryan has nearly 1,300 employees in 16 offices and has completed projects in 38 states. For more information, visit ryancompanies.com.
About Robert A. M. Stern Architects
Robert A.M. Stern Architects is a 265-person firm of architects, interior designers and support staff that has earned an international reputation as a leading design firm with wide experience in residential, commercial, and institutional work throughout the U.S. and around the world. The firm’s extraordinary portfolio of residential buildings, combining its longstanding dedication to the design of private residences with its deep commitment to urban place-making, includes such record-setting landmarks as 15 Central Park West in New York for Zeckendorf Development and residential towers in Boston, Philadelphia, Washington, Atlanta, Dallas, Chicago, Los Angeles, Toronto, and Vancouver. "Eleven" is the firm's first project in Minneapolis.
