Apartment Boom Reaches Chanhassen

Oppidan is planning a 224-unit apartment complex in Chanhassen, a sign that the urban rental-development boom is spreading to the outer suburbs.

Finance & Commerce reports that Minnetonka-based Oppidan wants to build on an 8-acre piece of land at 7750 Galpin Blvd. now owned by Americana Community Bank. A city planning commission hearing is set for Dec. 4.

If approved, the development would boost Chanhassen’s market-rate rental market by nearly 50 percent.

Twin Cities apartment development has been booming in the past year. Even with several big projects opening, the market remains tight and there are more than 10,000 new rental units being developed in the Twin Cities.

Source: Finance and Commerce