Minneapolis/St. Paul Business Journal: Developer puts $500M into making the Mill District the next big thing

Sherman Associates has officially marked a 25-year milestone in transforming Minneapolis’ Mill District, investing over $500 million since acquiring the historic J.I. Case Building in 1999. What began as a strategic bet by CEO and founder George Sherman has evolved into a vibrant neighborhood hub for living, working, and entertainment.

Led by President Chris Sherman, the company has developed more than 750 apartment units and a mix of hospitality, retail, and event spaces—including the newly opened Mill District Event Spaces, a $5 million venue housed in the former Old Spaghetti Factory.

• Aloft Hotel, Zenith Condos, and Encore Apartments
• The Sherman Block, home to East End Apartments, Trader Joe’s, Starbucks, Canopy by Hilton, and the J.I. Case Building
• The Vicinity Apartments, O2 Luxury Tower, and Ladder 260 Apartments
• The new Minneapolis Fire Station 1

Sherman’s developments have helped triple the Mill District’s population between 2000 and 2020, now home to over 5,700 residents. With historic architecture, proximity to downtown and the river, and growing retail like Mother Dough Bakery and La Madre, the district is thriving.

Looking ahead, Sherman plans a $2 million renovation of the Aloft and is exploring adaptive reuse opportunities—including a pivot to retain and repurpose the former Wells Fargo operations center, driven by emerging needs like AI-powered data centers.

Chris Sherman sums it up: “We’ve seen the transformation of this neighborhood. We’re excited about its next phase.”

Read the full article here: https://www.bizjournals.com/twincities/news/2025/10/17/sherman-mill-district-developer-minneapolis-invest.html