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A Blaine, MN-based development company may build a boutique hotel on a triangular lot just west of Minneapolis’ Lake Calhoun.
Elevage Development Group presented preliminary plans for a hotel at 3012 Excelsior Blvd. at the West Calhoun Neighborhood Council’s Jan. 9 meeting. The site is just two-thirds of an acre, bounded by Excelsior Boulevard, Lake Street West and Market Plaza Road.
Elevage co-owner Mike Mergens told CoStar News that the building’s height, number of units and development cost were all subject to change. He would not detail the proposal discussed at the meeting.
However, Allan Campbell, a member of the West Calhoun Neighborhood Council, said that Elevage put forward two concepts.
“They were similar. One was a little wider and shorter and the other was taller and narrower,” Campbell said, noting that the plans called for a building of up to 12 stories, 100 to 120 rooms, and a restaurant. The structure would feature enclosed parking.
Campbell said the developer would present an amended plan to the organization at its Feb. 13 meeting.
The site is currently improved with a 2,726-square-foot BP gas station, originally built in 1966, which is owned by Calhoun Beach Petroleum Properties LLC. The LLC is controlled by David Kroona, owner of Automotive Ventures Group, which owns and operates five other gas stations in the Twin Cities, an auto shop, a towing service and a used car dealership. He could not be reached for comment.
Kroona acquired the asset in May 2006 for $1.09 million from BP Products North America, Inc., according to CoStar data. Hennepin County property records show that the property had an assessed value of $995,000 for taxes payable in 2018.
See CoStar COMPS #1306143.
Elevage is collaborating with Portland, OR-based Provenance Hotels on the project. The two are also working on a boutique hotel in Stillwater, which should open in 2018, Mergens said.
