Two developers are teaming up to bring some Twin Cities flavor to Rochester’s apartment scene.
Minneapolis-based Alatus LLC is partnering with the Pompeian family, longtime real estate developers in Rochester, on a proposed 13-story apartment tower that would visually change the main entrance from Hwy. 52 into the city’s downtown and Mayo Clinic complex.
The $100-million plan is unique for Rochester in both size and style, introducing a luxury class of apartments that have become common in bigger cities, including the Minneapolis-St. Paul metro area, in recent years.
The development site is significant in that it falls just within the boundaries of the Destination Medical Center, a public-private initiative designed to spur economic development and maintain Rochester’s position as the world’s premier location for health treatment.
“Obviously, the city of Rochester has some pretty ambitious goals” for the center, said Chris Osmundson, a senior associate for Alatus. “We felt we could propose something a little bit unprecedented for Rochester.”