MINNEAPOLIS — Kraus-Anderson Construction Co., a general contractor based in Minneapolis, plans to break ground this coming Monday, Oct. 23 on Ironclad, a $100 million mixed-use development in downtown Minneapolis. The site, currently a parking lot, is located within the historic Mills District near U.S. Bank Stadium, the newly opened home of the Minnesota Vikings NFL team.
Designed by St. Paul-based Collage Architects, Ironclad will include a 14-story, 172-unit apartment building and an eight-story, 139-room, Moxy-branded hotel. The plans also call for a 3,300-square-foot restaurant; 10,000 square feet of retail space on the first floor of the hotel; and a four-story, 65,318-square-foot underground parking garage with room for 411 cars.
The apartments will feature private outdoor terraces, a sky lounge and a large amenity deck with green space. The property will also feature a swimming pool, hot tubs, fire pits, cloister garden and insider amenities including electric vehicle charging stations, bike repair facility and rider lounge, sauna, theater and media center, pool table and gaming and an on-site property manager.
Ironclad is owned by 811 Washington LLC, a wholly owned entity controlled by the Kharbanda family, which owns and operates multiple properties in downtown Minneapolis. The developer of the hotel is Graves Hospitality Corp., a locally based hotel development and management firm. The Moxy Downtown hotel will be Graves’ second Moxy property in Minneapolis, joining its first location in Uptown.
Ironclad is situated on the site of the former Union Grain Elevator, which was built in 1867 and was one of the earliest and largest wood grain elevators in Minneapolis. The Ironclad name stems from a fire in the historic building that damaged its original wooden elevator, which was rebuilt with an “iron clad” elevator to better protect the structure against future fires.
Kraus-Anderson expects to wrap up construction in spring 2019.
In addition to breaking ground on Ironclad, Kraus-Anderson is moving into its new corporate headquarter offices at 8th Street and 5th Avenue in Minneapolis. The new headquarters will accommodate approximately 300 employees and will house Kraus-Anderson Mortgage, as well as the parent corporation, Kraus-Anderson Cos.
Designed by Pope Architects, Kraus-Anderson’s new headquarters features amenities such as a rooftop deck, formal and informal meeting areas and a well-landscaped exterior, as well as two levels of underground parking to serve Kraus-Anderson’s office employees.
— John Nelson