Sherman Associates Hosts the Grand Opening of Moment Apartments in Downtown Minneapolis

Mixed-use development delivers 222 apartment homes, transitional healing center, daycare center, and Starbucks

{MINNEAPOLIS, MINN., September 6, 2023}—Sherman Associates along with development partners, residents, and prospects celebrated the grand opening of Moment, a 10-story mixed-use development with skyway connection that includes 222 market-rate apartments and nearly 15,000 SF of street-level commercial space including Starbucks and a future New Horizon Academy daycare center at 650 Portland Avenue in Minneapolis.

Firefighters For Healing and its Transitional Healing Center are located on the 2nd floor, the center being the first of its kind in the United States, with 12 fully furnished Home Away from Home suites available to families of burn survivors, firefighters, and first responders traveling to the Twin Cities for care at nearby Hennepin Healthcare.

“Moment shows what is possible through the partnering of businesses, cities, and non-profits to create a better neighborhood, support those in need, and deliver high-quality housing and community amenities,” said George Sherman, CEO of Sherman Associates.

Sherman’s $83 million development signifies its dedication to creating a vibrant downtown for residents, businesses, and workers. Moment was fueled by the shared commitment to the reanimation of Minneapolis by all parties involved in the development. The project was financed by a bank group led by TCF Bank, now Huntington Bank. ESG Architecture & Design was the architect and Kraus-Anderson was the general contractor.

“This project is the result of many factors coming together when the world was quickly evolving due to the COVID-19 pandemic,” said Carole Mette, Senior Developer at Sherman Associates. “Our team, along with our steadfast partners, overcame the challenges together and brought the project to the finish line.”

Sherman acquired the site from Thrivent Financial in May 2021, which occupies the lot adjacent to Thrivent’s headquarters. Moment and Thrivent are linked by a shared driving court, underground parking garage, and skyway connection. Moment contributes to Thrivent’s vision of a thriving neighborhood in downtown Minneapolis.

Moment is a transit-oriented development representing Sherman’s dedication to environmental sustainability. It promotes the use of sustainable transportation practices for its residents, guests, customers, and employees being located on a high-frequency bus route and only a five-minute walk to the light-rail system, as well as walking distance to additional bus stops, grocery stores, restaurants, shopping, and entertainment.

Being connected to the skyway system is an added amenity for residents, guests, customers, and employees. An onsite bike storage and repair area further encourages green modes of transportation. Compact stalls and future electric vehicle charging stations in the underground parking garage promote the use of more energy-efficient vehicles. Energy usage for Moment is partially offset by energy production from a solar garden located in Carver County.

Residences at Moment range from efficient 496 SF studios to spacious Penthouses with more than 1700 SF, complete with STRATIS Smart Home Technology. Each home features stainless steel appliances, quartz countertops, and in-home washer/dryer. Most homes have a private balcony, built-in desk with open shelving, smart refrigerator with remote monitoring and temperature control, and smart gas range with voice-enabled controls.

Residents benefit from a variety of luxury amenities including a modern 5-star lobby, pool terrace, sauna and spa, sports simulator, rooftop terrace, fitness studio, work-from-home space, maker’s space, bike storage and repair area, dog run, and pet spa.

Moment curates a living environment designed to inspire a “live in the Moment” approach to daily routines. Design and artwork selections support a resurgence to the feel-good supply of Moment’s residents. This theme seeks to provide needed moments of joy to the burn survivors and their families staying at the Firefighters For Healing Transitional Healing Center as they navigate the difficult journey to recovery. A Moment-themed mural by Juxtaposition Arts in the skyway greets guests and visitors as they pass by on the way to the Transitional Healing Center.

Moment joins Sherman’s vast development portfolio of over 800 units in the nearby Mill District neighborhood plus its 216 units now underway in Northstar East in the central business district, and the approximately 500 units to be delivered by Harmonia on Washington Avenue South.

Backgrounder:

Sherman Associates
Sherman Associates is a growing commercial real estate development and management firm based in Minneapolis with properties throughout the Midwest, Colorado, and Florida. Sherman develops, owns, and operates its assets with a long-term vision to build neighborhoods, enrich communities, and empower people.

Sherman Associates has developed over 12,000 multifamily units and currently owns and manages over 7,300 multifamily rental units (affordable and market-rate). Sherman also owns and manages over 660,000 square feet of commercial space, five hotels, four Starbucks, three restaurants, and two solar gardens. Stay connected with Sherman on LinkedIn, Twitter, Facebook, and Instagram.