Industrial growth firm Inventure Properties LLC is planning a new downtown office building at 24 Eighth Ave. S, throughout the road from St. Mary's Cathedral.
Doug Boser, CEO and president of Inventure, stated plans are to assemble a three-story, as much as 60,000-square-foot office building referred to as Windfall One, named after the partnership group that owns the location.
The property can have an government suite on the highest degree, which incorporates entry to a deliberate rooftop terrace that can overlook Lake George. The building may additionally embrace an underground parking storage for use by tenants.
"We're within the early phases of making a building there that's going to seem like it has been there because the 1930s," Boser stated. "It should be very warehouse-trying."
Complete value of the mission is estimated at $12 million to $15 million, Boser stated.
Presently, the situation is occupied by Minnesota Secured Title. Boser stated the building was bought in Might 2016, and he hopes to interrupt floor on the mission this fall. However they're nonetheless within the preliminary planning section, and permits haven't but been pulled.
Nonetheless, if all goes in accordance with plan, Boser stated the building might be accomplished as quickly as the autumn of 2018.
Jim Schleper, the chief working officer and chief monetary officer of Inventure Properties, stated preliminary designs of the building have been very trendy. Nonetheless, the group is now dedicated to incorporating parts from neighboring buildings.
"We wish to honor the cathedral from throughout the road and convey these colours into play," Schleper stated. "Whereas we might have constructed a particularly trendy-trying building, we wish to create a special look that's traditional and timeless."
Boser, who based Boser Building Inc. in 1996 and offered the corporate final yr to focus his vitality on Inventure Properties, stated his former firm can be contracted for the Windfall One construct.
The mission is a component of a bigger plan Inventure has to revitalize downtown St. Cloud.
"That outdated warehouse look in St. Cloud, sadly, would not exist," Boser stated. "The place you see lots of that's downtown Minneapolis — the warehouse district. So we are literally taking a few of the issues that work down in Minneapolis and making an attempt to use them in St. Cloud."