The Buckeye is out, as is Ovation.
The name of the new 92-unit apartment and retail complex being built on the corner of Fourth Street and Third Avenue Southeast in downtown Rochester has fluctuated during the planning phase.
Now that a major hole has been dug across from the Olmsted County Government Center and Rochester City Hall, the developer unveiled the official name for the $15 million project.
Nate Stencil, of Stencil Homes, confirmed Wednesday it is now called Flats on Fourth. The South Dakota developer is driving the project with his partner, Sean A. Kaufhold.
The new name was announced this morning during a public event organized by the Destination Medical Center Economic Development Agency, according to Stencil.
The name was a minor issue in the neighborhood, because some people objected to having it called The Buckeye. The complex is being built on the corner where the longtime Buckeye Liquor store once stood. The store since has moved a little farther south down Third Avenue.
As the project progressed through the early planning stages, the project name was changed to Ovation on Stencil's website. However, it turns out that was just a possible name that was ultimately rejected.
Now, when this complex opens next summer, the name over the door will be Flats on Fourth.
While they haven't started marketing the space, Stencil says there already has been interest in the ground level retail space in the complex.
"We've had some inquiries on the retail end, but not from the kind of retail we are looking for. We're looking for very specific tenants that will be a good fit for that area," he said.
Stencil recently built and opened two other apartment complexes, Nue52 and Kascade Place. Both are near Rochester's 65th Street Northwest interchange across U.S. 52 from the North Menards store.
Another Rochester apartment project by Stencil, The Pines, still is under construction. Once Flats on Fourth and The Pines open, Stencil will own 463 apartments in Rochester.