Another nail in the coffin of The Nicollet: A proposed 50-story condo tower on the corner of 10th and Nicollet downtown, has lost another partner in the project, which would have been the tallest condo tower in the city. Opus is out. Smart move on their part, I think...
I remember when this project was first proposed. I think whoever proposed this mistook Minneapolis for Chicago. However, they bought out and kicked out one of the better record stores in the city, Let It Be Records. Now, Let It Be may have gone under anyway given the sad state of affairs in the record industry, but it was still a great place to find some musical gems. One day, I walked out of there with Sonic Youth's "Goo," Fugazi's "13 Songs," and Bad Brains' "I Against I." No way could you do that at Target.
But I digress. The Nicollet was the result of a serious leap of faith in the Minneapolis condo market, and was as such even before the cooling of the market. There was never enough pent-up demand for a 50-story condo tower, especially considering it's a mile from the Mississippi, and many other condo projects were already online. It will be interesting to see how many floors come off this project when they revise their plans later this year.
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