Ryan Companies, Developer Unveil New Riverfront Condo Proposal

By Rick Kittock

On Wednesday, March 14 at 6:00 pm a meeting was held at the Stonebridge Lofts community room to present plans for a new 39 story condo tower to be built on the parking lot of the Padilla office building located at the corner of 11th avenue and west river parkway.  Presenting to a large crowd of Stonebridge and other neghborhood residents were Carl Runck, Josh Ekstrand and Chad Lockwood of Ryan Companies.  Also present was the developer Luigi Bernardi. 

Images of the new "Eleven" building were viewed and audience members asked numerous questions:

- The project will have no underground parking, instead, a 6 story base covering most of the parking lot will serve as a parking garage.

- The 39 story tower will be located in the northeast corner.

- The smallest units will be around 1600 square feet with various floors having only 2 to 5 units.

- There are plans for a 10,000 square foot penthouse.

- The developer indicated that 50% of the units would need to be pre-sold prior to obtaining financing.

- The price range will be $800-$1000 per square foot.

Concerns were raised by the audience regarding traffic flow, parking, lighting and safety, the overall height of the tower as well the view impact on the Stonebridge building as well as the new Legacy condos currently under construction.  Questions were also raised about valuations and property taxes. 

New public meetings are scheduled for March 19 and April 3rd at the Mill City Museum.  The first meeting before the city planning commission is set for April 12.