News Business Sports Entertainment Life Obituaries Opinion
Jobs Homes Cars Classifieds Shopping
Local Bloggers Cheap Tech Eco-Confessions Faceoff Furst Draft Heard on the Street Med City Movie Guy Pulse on Health Political Party

Search PB Blogs

Loading

Categories

34 posts categorized "Housing development news"

May 07, 2015

Renters Warehouse expanding in Rochester

A property management firm spun off from a well-known Rochester company now is under new ownership.

Jon Ortner, of Renters Warehouse-Rochester, acquired RGI Residential Management from Jeff Thisus on May 1. Ortner says this deal expands the number of Rochester properties he manages to 253.

Ortner, jon"I decided to relax a little bit. This is really a good fit," said Thisus, who will return to Realty Growth Inc. as a commercial real estate broker after helping with the transition.

Thisus originally bought the property management division of Realty Growth in 2014 from RGI's founders, Ed Pompeian and Bill Kolb. Realty Growth continues to operate as a commercial real estate firm and developer, now under the ownership of Nick Pompeian and Robert (Bucky) Beeman. Ed Pompeian still serves as the president of Realty Growth.

Starting in June, Ortner will move Renters Warehouse in the Realty Growth offices in Suite 350 at 975 34th Ave. NW as "a strategic partnership."

For Ortner, this deal gives a big boost to his Rochester business, which he began here more than two years ago.

"When I wanted to do something different, I chose Rochester even before DMC (Destination Medical Center) broke out. Rochester had the best demographics of all the places I looked," he said.

Ortner was one of the original employees of Renters Warehouse in the Twin Cities. Ortner, with his brother, Kevin Ortner, now own four Renters Warehouse franchises in Phoenix and Tucson, Ariz., Denver, Colo., and Rochester. They manage about 9,000 properties under the four locations.

Renters Warehouse focuses on managing single-family homes, condos, townhomes and apartment complexes of 20 units or less.

"We built the business on working with what we call 'unintentional landlords,'" said Ortner. "We keep it simple with a flat fee and we warranty tenants we recommend."

March 06, 2015

10 years of blogging Rochester

On March 4, 2005, I wrote my first blog post. Kiger's Notebook blogo 2x

It was my sixth year at the Post-Bulletin. I created the "Heard on the Street" column about three years before the blog began. 

More  than 6,200 posts, stacks of columns, mountains of tweets and many gray hairs later, I'm still here writing about business and things vaguely related to businesPhoto on 2015-03-03 at 18.11s in southeastern Minnesota.

It'syou, the readers, who make this career such a fulfilling and entertaining one. Thank you everyone for your feedback, criticism and support over these past 10 years. 

10 years of blogging Rochester

On March 4, 2005, I wrote my first blog post.Kiger's Notebook blogo 2x

It was my siPhoto on 2015-03-03 at 18.11xth year at the Post-Bulletin. I created the "Heard on the Street" column about three years before the blog began. 

More than 6,200 posts, stacks of columns, mountains of tweets and many gray hairs later, I'm still here writing about business and things vaguely related to business in southeastern Minnesota.

It's you, the readers, who make this career such a fulfilling and entertaining one. Thank you everyone for your feedback, criticism and support over these past 10 years.  

December 23, 2014

Re/Max Results building sells for $1.1 million

As a real-estate firm builds a new home in Rochester, its current location was recently sold.

The Rochester office building at 4600 18th Avenue N.W., where Re/Max Results has its local headquarters, was purchased for $1.1 million on Nov. 24. Local developer John Klopp's High Springs Inc. bought the 24-year-old building from Northwest Executive Properties of Rochester.

Remax exteriorRe/Max Results, an Eden Prairie, Minn.-based business with about 68 Rochester Realtors, recently started construction of a new office building on West Circle Drive Northwest.

The planned two-story, 18,000-square-foot office complex, at 4123 26th St. N.W., is expected to be completed in August or September. Re/Max Results will remain in its current office until the new building is ready.

"We're doing extraordinarily well in Rochester," said Lynn Foulke, CEO of Re/Max Results.

Re/Max has occupied the the 18th Avenue office since 1990. It was Re/Max of Rochester for most of the time, but Re/Max Results purchased the business, along with Re/Max Realty Source of Austin, from Duane Sauke in February 2012.

Sauke had been the sole owner of the Rochester RE/MAX since 2006, when he bought out five other partners: Frank Armstrong, Jim Conway, Lee Taplin, Paul Norrie and Bill King. He owned the Austin operation for about two and a half years.

Re/Max Results, owned by John Collopy, operates in Minnesota and Wisconsin with more than 800 Realtors. The firm describes itself as the16th largest brokerage in the United States.

November 04, 2014

Developer to build $15 million apartment complex near Roch. city hall

A South Dakota developer plans to build a $15 million, 110-unit apartment complex near downtown Rochester, plus 179 more apartments on the far northwest side.

Stencil Homes of Sioux Falls, S.D., has purchased three buildings — Buckeye Liquor, the empty Flowers By Jerry shop and the 3rd Avenue Pet Hospital — on Third Avenue Southeast and Fourth Street, across from the Olmsted County Government Center and Rochester City Hall.

11042014stencilaptsDeveloper and builder Nate Stencil and his partner, Sean A. Kaufhold, plan to build a six-story apartment complex with 3,100-square-feet of retail space on the main level and underground parking for residents.

"We're really excited about this project," Stencil said on Monday. He expects construction to begin in early spring 2015 and the complex to be completed in spring 2016.

To clear the way for the project, his company purchased the former flower shop at 410 Third Ave. S.E. for $450,000 on Oct. 15 and followed up with a $600,000 buy on Oct. 22 of the Buckeye Liquor building and nearby parking lots. Stencil bought those properties from Kevin Patton, the owner of Flowers By Jerry.

"I just think it is going to be nice to put something there to revitalize the neighborhood," Patton said.

Diane and Robert Satterwhite, who operate Buckeye Liquor and now lease from Stencil, said they will move their liquor store and continue to serve Rochester. However, no timeline for that has been determined.

The developers also recently purchased the 3rd Avenue Pet Hospital at 414 Third Ave. S.E. Dr. Caroline Baihly, who has owned 3rd Avenue since 1998, is essentially merging her clinic with the Quarry Hill Animal Hospital. After Nov. 24, Dr. Baihly and the other doctors at Quarry Hill will serve her client list.

"At this point, I looking forward to the change," she said.

With the surge of Destination Medical Center-driven development, this was something Baihly expected to happen eventually.

"I looked at the practicality of the whole thing," she said. "It seems when I look at the DMC map that this whole area is included. I think DMC has a lot to do with it."

Stencil said DMC did have something to do with the Third Avenue project, though it cropped up after they already had decided to invest in Rochester. He began working with Rochester Realtor Merl Groteboer about three years ago.

"When we started, DMC wasn't even on our radar. We were well into planning before we even heard about it," he said. "Though the project in downtown was probably influenced by it."

Second project

Stencil and his partner also have lined up property near the 65th Street Northwest interchange across U.S. 52 from the new North Menards store. Construction of the 83-unit Woodland Park apartments began there a few weeks ago. Stencil said he expects Woodland, which architecturally will be similar to the Metropolitan Marketplace complex, to be completed by late spring to early summer.

Work on Stencil's third complex, Kascade Place, is expected to begin nearby soon after Thanksgiving. It will have 96 apartments.

Those apartments, along with the proposed downtown ones, will be priced comparably to other market rate units in Rochester, he said. That means rents ranging from $900 to $1,000 a month.

"We feel very good about the market apart from DMC," said Stencil. "We believe the need for housing is coming as part of Rochester's natural growth."

August 25, 2014

Re/Max Results realty zeros in on new Rochester 'home'


After months and months of "house" hunting, a large real estate office seems to have found a new home in Rochester.

Remax_exterior-2Re/Max Results, an Eden Prairie, Minn.-based business with more than 60 Realtors based in Rochester, has been shopping for either a building or a spot to build one here to replace its office complex at 4600 18th Ave. N.W. for quite a while. Various deals, including one for a commercial complex, were rumored at various times to be close to happening.

While the organization has not confirmed its plans yet, an application for a building permit last week seems to signal that the long-anticipated project now is moving forward.

Plans for a two-story, 18,000-square-foot office complex to be built overlooking West Circle Drive Northwest by 26th Street Northwest were submitted to the city planners on Aug. 21 under the title of "Re/Max building and parking lot."

Brian Schoeppner, of Rochester, filed the application. The owner is listed as the 14-year-old West Circle Drive LLC, which has an address of Suite 101 at 4115 26th St. N.W.

Re/Max Results, described as the largest locally owned and operated realty company in the Midwest, entered this market in February 2012, when it purchased Re/Max of Rochester along with Re/Max Realty Source of Austin from Duane Sauke.

Owned by John Collopy and Marshall Saunders, Re/Max Results operates in Minnesota and Wisconsin with more than 800 Realtors. The firm describes itself as the16th largest brokerage in the United States.

The plans for the new real estate office listed G-Cubed, of Chatfield, as the engineering firm for the project and Rochester's The Urban Studio as the architect for the project.

Since the application for the new Re/Max Results offices were just submitted last week, it's unclear how long it will take for the project to be approved by the city or for construction to begin.

August 20, 2014

Rochester architecture firm to move soon

A Rochester architecture firm soon will move out of its long-time digs.

CRW Architecture-Design Group, formerly part of Yaggy Colby Associates, will move out of its offices at 717 Third Ave. S.E. at the end of September, said CRW Principal Chris Colby. The firm has been based in the SEH-Yaggy complex, since it spun off from Yaggy-Colby in 2010.
08202014crwoffices
CRW is led by Colby, Jose Rivas and Jason Woodhouse. All three previously worked for what used to be Yaggy Colby.

SEH-Yaggy has committed that office space to another tenant, according to Colby. SEH-Yaggy is the result of a merger earlier this year between Yaggy-Colby and St. Paul-based Short Elliott Hendrickson Inc.

CRW OfficeWhile the firm eventually will move into its own building, construction of its 4,200-square-foot offices plus four apartments isn't expected to be completed until late October or early November.

That means the 10 employees at CRW will need to temporarily find work space for the 45 to 60 days until its new offices are finished, said Colby.

CRW's new complex is being built at 11th Avenue and Second St. N.W. The office and apartments are being developed by Jose Rivas.

July 02, 2014

New south Rochester furniture store hopes to open in August

Schneiderman’s Furniture is targeting an August opening for its new Rochester location, which will be the fourth furniture store to open in the Med City this summer.

07022014schneidermansThe well-known Minnesota furniture retailer is making its first foray into southeast Minnesota by renovating a 30,991-square-foot store at 4540 Maine Ave. S.E. That's the former Best Buy store, which closed in 2012.

Larry Scheiderman says the project is moving along and they hope to be able to open the doors in August, possibly as soon as the first week of that month. Some hiring has already been done for the new store, but he says more people are still needed. Schneiderman's plans to have 20 people staffing the store.

Schneiderman’s is a third generation, family-owned business with four stores in the Twin Cities and one in Duluth. It was founded by Larry Schneiderman's parents, and now his son, Jason Schneiderman, is the president of the company.

The spike in Destination Medical Center-driven attention has spurred more than just Schneiderman's to try to furnish the rapidly growing Rochester.

Three other new furniture stores – Furniture Superstore Factory Outlet, Deutsch Furniture Haus and Hershberger's Furniture – have also opened this summer.

June 09, 2014

Cambria brings its counterculture to downtown Rochester

A "counterculture" experience is coming to downtown Rochester in the form of a new Cambria showroom.

Le Sueur-based Cambria opened the doors of its new 2,400-square-foot "touch and feel center" at 400 S. Broadway in the Riverside Building today. (Monday, June 9)

Cambria is known for its high-end natural stone and quartz counter tops used in residential and commercial kitchens and bathrooms.

06092014cambriashowroomThe new Rochester center is focused on being a showroom for local contractors and partners like Warners' Stellian appliances to bring their clients to look at styles and colors of Cambria surfaces. However, individual homeowners are also welcome to stop in to check out the countertops.

"Rochester is such a vibrant community. It really is a good opportunity for us," said Peter Martin, Cambria's executive vice president of sales, marketing and business partner services.

He described company's investment to create the elaborate showroom in the former Rocco Altobelli Salon space along the Zumbro River as being in the "hundreds of thousands of dollars."

Martin says his company will have about five employees staff the downtown showroom, and another team of 10 based elsewhere in Rochester will handle Cambria's delivery and installation services.

Beside showing off its wares, Cambria plans to use the new site to develop strong ties with the Med City.

"It is our intent to focus on interacting on with community," he said.

The fact that the Rochester Symphony Orchestra & Chorale uses the patio outside of the showroom's windows for Coda, its popular summer series of outdoor music, was a major factor in Cambria choosing that spot, Martin said.

March 17, 2014

Senior complex continues to rise in SW Roch.

Senior living complexes are almost as hot as hotels in Rochester these days.

04162014watersatmayowoodOver the weekend, I checked out the progress of The Waters on Mayowood (one of the two water-linked senior projects under construction).

The Waters is the massive 276,000-square-foot facility that has risen on six acres at the corner of 16th Street Southwest and Mayowood Road. Work started in August and they have made great progress on it.

Its timeline puts the projected opening this fall.

It'll include a four-story assisted living wing with 70 units and six enhanced care suites, a four-story independent living wing with 71 units and  a two-story memory care wing with 28 units. It will also feature heated underground parking.

WatersonMayowood Site PlanConstruction is expected to begin about the third week of August. The hope is to open The Waters on Mayowood in fall 2014.

Working with Rochester developer Jeff Brown to develop the new facility as an owner as well as operator is The Waters Senior Living of Minnetonka. The Waters manages 11 senior living centers in Minnesota, including Sugar Loaf Senior Community in Winona.