Sherman buys notorious North Loop site

Finance & Commerce

"Developer George Sherman closed a deal last week to buy a long-vacant site in the North Loop area of downtown Minneapolis. Construction stopped on the planned Reserve condo project at the site at 324 First St. N. in Minneapolis in 2003 and never resumed. Sherman, the president and owner of Minneapolis-based Sherman Associates, said that he hopes to start construction on a 140-unit market-rate apartment project at the site in October. Three 24 LLC, an entity connected to Sherman Associates, paid $2.4 million for the site. The sale closed on June 26 according to a certificate of real estate value (CRV) filed with Hennepin County late last week...." Read the full article here»