Minneapolis/St. Paul Business Journal: Sherman Associates bucks construction slowdown with $130 million St. Louis Park project

Sherman Associates is moving forward with one of Minnesota’s largest multifamily developments despite current economic headwinds that have resulted in a major slowdown in construction across the state.

The $130 million Beltline Station project, now under construction in St. Louis Park, will deliver 380 new homes in a mixed‑use, transit‑oriented development adjacent to the future Southwest light rail’s Beltline Station, slated to open in 2027. The first phase, Solene, a 146‑unit market‑rate building, is expected to open this fall alongside a nearly 600‑stall parking ramp serving both residents and Metro Transit riders.

The seven‑year project includes two additional buildings opening in 2027: a second market‑rate mixed‑use building with 152 homes and 20,000 square feet of commercial space located at the prime intersection of Beltline Blvd. and Highway 7, and an 82‑unit affordable housing building serving residents earning 30%–60% of area median income.

Developed in close partnership with the City of St. Louis Park and multiple financing partners, Beltline Station advances Sherman Associates’ commitment to mixed-income housing, transit-oriented development, and long‑term community investment at a time when housing production across the Twin Cities has declined sharply.

Read the full article here: https://www.bizjournals.com/twincities/news/2026/04/29/sherman-beltline-boulevard-transit-st-louis-park.html