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A collection of recent and significant news articles about Sherman Associates, Sherman Associates' properties and employees.
Sherman Associates marked the opening of Rayette Lofts in Lowertown Saint Paul on Thursday with a celebration that included speakers Saint Paul Mayor Coleman, Council Member Dave Thune, and Michael Bjornberg, Chair and President of the Preservation Alliance of Minnesota. Representatives from U.S. Senator Al Franken also attended. Residents began moving into the 88 unit luxury apartment property at the beginning of October.
Rayette Lofts is a redevelopment of the historic Rayette Building originally constructed in 1911. It’s most recent use prior to construction was a parking garage. According to Chris Sherman, one of the project managers on the redevelopment, “The property has a noble history, it served many Saint Paul entrepreneurs.” It began as a millinery in 1911 and was purchased by Raymond Laboratories in the ‘30s where they began marketing the Rayette hair salon products. Because of the historical nature of the property and the uniqueness of the development, the project involved many development partners. “It was an extremely complicated deal that required strong public-private partnerships. It closed at a challenging time for historic-credit-only deals. The property brings additional vitality to Lowertown. Architecturally, it translates to large apartment units with unique floor plans and abundant natural light,”adds Sherman.
Sherman received significant public support on the development from the City of Saint Paul, the Metropolitan Council, the National Park Services, the Minnesota Historical Society and the Preservation Alliance of Minnesota. The Preservation Alliance of Minnesota is hosting at Lowertown Artists Photo Exhibition at the event. Other project partners include Architect- Kaas Wilson, General Contractor- Anderson Companies, and Historical Consultant- Hess Roise & Company.
Rayette Lofts is one of several Sherman Developments in downtown Saint Paul. They also own and manage West Side Flats, Sibley Court, Sibley Park, Lyons Court, Phalen Senior Lofts, and the Straus Building.