Riverside Plaza is located steps away from the University of Minnesota campus and downtown Minneapolis. You will find quick and easy access to 35W and I-94 to ease your daily commute. You can even leave your car at home because getting around the Twin Cities has never been easier as Metro Transit bus stops and the Hiawatha Light Rail station are all within walking distance.
Riverside Plaza represents the largest housing development project in the state of Minnesota and one of only two projects in the United States that were built as part of a HUD pilot program called “New Town, In Town”. Originally constructed between 1971-1973, Riverside Plaza consists of 1,303 rental units that provide housing for over 4,000 individuals in the Cedar Riverside neighborhood of Minneapolis. * Income Restrictions May Apply
In January, 2011 Sherman Associates closed on one of the largest tax credit rehabilitation projects in the nation’s history and began a $132 million, two-year refinance and renovation of this iconic property. In the process, Riverside Plaza was placed on the National Register of Historic Places. This occurred less than 40 years after the property was originally constructed; 1971-1973. The historic designation was in part due to the concepts and design brought forward by world renowned architect Ralph Rapson. The rehabilitation, scheduled to be completed in December of 2012, will focus on substantial upgrades to the mechanical and electrical systems that will extend the lifespan of the property for another 40 years. Exterior and site work will focus on returning the Riverside Plaza complex to its original 1970’s appearance.