Schafer Richardson Announces Completion of Sustainable Mixed-Use Development in Minneapolis, MN

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Schafer Richardson is pleased to announce the completion of Viridium, our newest Class A multifamily development in the North Loop neighborhood of Minneapolis. The project, located at 721 North Third Street, transformed a surface parking lot into a six-story, 204,000 square foot mixed-use building with two levels of underground parking. The building offers 139 luxury market rate apartments with a mix of studio, 1-bedroom, 2-bedroom, and penthouse units centered on a common courtyard.  The building also has approximately 3,600 square feet of retail space at street level.

Viridium offers a fresh and unique lifestyle for the North Loop market – an oasis for those who love the advantages of the urban area, but desire a life integrated with nature and grounded in well-being.   The pet-friendly and community-focused environment comes with state-of-the-art amenities including, a fitness center and yoga studio, spa with a sauna and hydrotherapy tub, a winter garden that provides ample natural light and living plants that can be enjoyed year-round, a club room with chef’s kitchen, game lounge, resident and bicycle storage, and an on-site management office. The outdoor amenity deck offers additional community and entertainment spaces for residents, featuring an outdoor kitchen with grilling stations, firepits surrounded by ample seating, a turf area for lawn games, and large swings for contemplative reflection.

Unit features include floor-to-ceiling windows to maximize natural light and outdoor views, smart technology locks and thermostats, gorgeous quartz countertops, solid-wood kitchen islands, Smart cabinets, wood-style flooring, premium-quality washers & dryers, and stainless-steel appliances. Select units will have inset or hung private balconies and every penthouse unit will feature private rooftop decks.

Viridium is pursuing LEED certification from the U.S. Green Building Council, meaning that the project was designed and built with substantial focus on sustainability and environmentally friendly living.

Viridium was designed by Minneapolis-based UrbanWorks Architecture and built by Frana Companies.  Steven Scott Management was selected as the residential property manager and Schafer Richardson’s SR Management will manage the retail space.

Schafer Richardson will host an official grand opening ceremony in the coming months, with the specific date to be determined. Please visit for more information.