Sherman acquired the site from Thrivent Financial, whose headquarters recently opened adjacent on the block. The Moment Apartments development also features 15,300 square feet of commercial space planned for a daycare facility and skyway access. The $80-million project is being financed by a bank group led by TCF Bank. ESG is the architect, and Kraus Anderson is the general contractor.
The Transitional Healing Center will provide 12 “home-away-from-home” suites for families close to downtown hospitals where their family member is receiving care. It will also accommodate discharged patients as they transition before returning home.
“This is an exciting and historic day for Firefighters For Healing,” said Founder and Executive Director, Jake LaFerriere. “We are seeing the results of 10 years of hard work and community relationships that are making this dream a reality. This healing center will impact the lives of burn survivors, injured firefighters, and their families for many years.”
Construction will be completed in Q4 of 2022. Moment Apartments will feature units with smart home technology, pool, sauna, hot tub, sports simulator, work from home space, and rooftop lounge. Additionally, Sherman’s two solar gardens developed in 2019 will off-set the building’s energy usage.
According to George Sherman, CEO of Sherman Associates, the Moment Apartments tower is fueled by the shared commitment to the vibrancy of Minneapolis by all parties involved in the development.
TCF Bank is the agent for the bank group that is financing the Moment Apartments development and shares Sherman’s sentiment.
“We are excited to be a part of such an important development for this neighborhood and for the families supported by Firefighters For Healing," said Mike Lowe, Vice President of TCF Commercial Real Estate Lending. "The hard work and dedication put forth by everyone involved with this project will have a profoundly positive impact on our community.”
Sherman Associates is a commercial real estate development and management firm based in Minneapolis with properties throughout the Midwest and Colorado. Sherman has developed over 8,000 multifamily units, 600,000 square feet of commercial space, four hotels, and two solar gardens, and it has two Starbucks locations.