Kraus-Andersons The Lark is ready for occupancy.
The company completed construction on the $100 million multipurpose project on Friday, and the first residents began moving in the following day.
Located in downtown Minneapolis’ East Town, the 16-story residential tower features 341 competitively priced apartments and seven penthouses. The development also includes three levels of underground parking and an additional 9,100 square feet of on-street retail space. The property is anchored by a branch of Wells Fargo. Larking will not include affordable housing units.
Housing remains scarce throughout the Metro Twin Cities, while downtown Minneapolis’ population has increased in recent years. Kraus-Anderson leaders hope the new tower will continue to draw more people downtown.
“We believe The Larking will enhance downtown by bringing new neighbors and commercial offerings to the Elliot Park neighborhood and bringing vibrancy to the entire downtown community,” said Erica Arne, director of development at Kraus-Anderson.
The Larking is Kraus-Anderson’s sixth Twin Cities multi-family development in the past decade, but is one of two downtown developments.
Built in 2018, HQ Apartments is a 17-story residential building in the Elliot Park neighborhood. This mixed-use development includes a 306-unit condominium, 165-room hotel, Finnegan’s Brewery Co. and Kraus-Anderson’s corporate headquarters.