Construction is underway for the Riverfront Bluff Development in western Shakopee: a five-story, 170-unit market-rate apartment building with a restaurant and retail space along First Avenue and the Minnesota River.
Greystone Construction, a local contractor based in Shakopee, broke ground on the building last week.
The retail space, according to the developer Gaughan Companies, will be targeted as a fitness center that the community that residents can use.
“The redevelopment of our riverfront is great for our community and our surrounding area. It is important in our efforts to enhance and invigorate Shakopee,” Shakopee Mayor Bill Mars said in a press release. “I can’t say enough about all the collaborative partners that played an important role in this redevelopment.”
The apartment complex, which is targeted toward young professionals and empty-nesters, has been in the works since the summer of 2018, when city council also passed a resolution approving a Tax Increment Financing plan for the River Bluff Development project.
The development process has stalled due to the discovery of a chunk of bedrock and a substantial trash pit under the lot. New water, gas and power lines were also required for the development.
The Shakopee Flats apartment building is expected to open in the spring of 2022 and will have studio, one-bed, and two-bed rentals available.
