Several ambitious downtown Mankato apartment complexes have been proposed in the past five years, aiming to tap into demand for city-center living.
But the only one to move to construction so far is now complete — offering the first built-from-scratch downtown apartments in decades. Residents will be moving into Silos Apartments on Saturday.
Named for its proximity to the Ardent Mills complex and its massive mural, the four-story apartment building at the intersection of Second and Plum streets was presented to civic leaders during an open house Thursday.
Developer and Brennan Construction President Joe Brennan spoke only briefly at the ribbon-cutting ceremony, letting attendees check out the lobby, the heated indoor parking space for 19 vehicles and the apartments featuring 9-foot ceilings, in-unit laundry, floor-to-ceiling windows, high-quality appliances and more.
“The amenities, I think, speak for themselves,” he said.
The silo mural in Old Town Mankato is visible from a staged apartment at the Silos Apartments.
Brennan also thanked his parents and founders of the company, Mike and Cathy Brennan, for recognizing the potential of downtown Mankato and helping to lead its renaissance over the past 20 years.
The marketing of the $5.2 million building — which offers 26 one- and two-bedroom apartments an easy walk from both downtown and the historic Old Town business district — leans hard into the idea that the city center is now an attractive place to live.
“Nestled in the pulsating heart of downtown Mankato, the Silos Apartments epitomize urban living at its finest,” according to the description on brochures and at apartments.com. “Situated mere steps away from the renowned Wine Cafe, residents can indulge in a myriad of culinary experiences without straying far from home. Explore the vibrant local scene with popular shops, chic boutiques, and an eclectic food truck hub, all just around the corner.”
The perception that many young professionals are looking to live in a vibrant, walkable areas prompted developers to propose five different market-rate apartment buildings totaling 211 units along Second Street in downtown Mankato starting in 2020. The pandemic and resulting economic disruption delayed or killed all of those except the Silos project, which was the last to be proposed and the first to be finished.
Attendees at Thursday’s ribbon-cutting reception are shown in relief against the skyline at the Silos Apartments.
The parcel was originally purchased by Mike Brennan to provide required parking for his Bridge Plaza project across Plum Street. When the $16.2 million Bridge Plaza development shrunk from seven to five stories, the parking requirements declined too, allowing plans to shift.
Joe Brennan presented the new concept to the City Council, guided it through the approval process, garnered state and local subsidies, and very nearly kept it on schedule. It was originally set to open to tenants on July 3.
Units are being offered on apartments.com for $1,274 to $1,474 a month for the varying-sized one-bedroom, one-bath units and $1,774 for the two-bedroom, two-bath option.
In return for the relatively lofty rents, tenants will reside in a “luxurious abode” that “embodies the perfect blend of comfort and sophistication” and offers “premium finishes that define modern elegance” and “create an ambiance of refined living.”
“Residents will relish in the tranquility of their private balconies, offering panoramic views of the bustling cityscape below,” the marketing materials state. “With an emphasis on convenience and security, the heated garage ensures effortless parking year-round, providing an added layer of comfort for those seeking a hassle-free downtown lifestyle.”
Maribel Torres captures video of the view on the rooftop patio at Silos Apartments on Thursday.
And the website emphasizes a defining feature of the design — the shared deck on the fourth floor facing international artist Guido van Helten’s mural: “Ascend to the pinnacle of urban indulgence at the rooftop gathering space, a serene oasis amidst the vivacity of the city. Enjoy the company of friends and neighbors in this exclusive communal retreat.”
While there might be debate about whether the heart of Mankato is beating quite as vigorously as the publicity pieces claim, the Brennans were far from alone in believing tenants would be willing to pay a premium to live in and near downtown and Old Town. The competing projects have not fared as well as Silos Apartments, however.
One definitely won’t happen. The $13.2 million Landmark Apartments would have provided 33 upscale apartments with rents as high as $3,100 in a renovated and expanded Landmark Building at the corner of Second and Main streets. That proposal has been dropped in favor of a 10-story hotel.
The Burton was a two-building $38 million project totaling 108 units and covering the entire block along Second Street between Main and Mulberry streets. The six-story buildings were tentatively scheduled for completion in spring 2024.
The vacant former bank on the site remains, and the most recent update provided to the City Council last winter was that high interest rates and other economic conditions had sunk the development.
The first project to be proposed — Jackson Park Apartments, just off Second Street at the Jackson Street entrance to the Mankato Place mall — was delayed and redesigned due to the same market challenges but is still being pursued by developer Gordon Awsumb.
Originally planned as a $7 million 56-unit upscale apartment building to be completed by December 2021, it was amended during the pandemic to a 44-unit building with less indoor parking in an effort to control construction costs. At that point, it had grown to a $13.1 million project that was to open by the summer of 2023.
Despite the delays, Awsumb is not giving up on the project. He told The Free Press last week that he anticipates construction of the apartment tower to start in the summer of 2026.