Uptown’s changing skyline just got a lot more real. Doran Companies has closed on a roughly $3 million slice of the Seven Points property in Minneapolis and is lining up a five-story, 228-unit apartment building that would take out a chunk of the aging retail center. The project would replace storefronts that once housed CB2 and Kitchen Window, trimming the mall’s footprint as housing pushes deeper into the block. The plan pairs market-rate apartments with a deeper affordable set-aside and builds on prior city planning approvals and a tax-increment financing package advanced in 2025.
According to the Minneapolis / St. Paul Business Journal, Doran paid about $3 million for the parcel, which sits behind and to the right of Seven Points’ main entrance. The outlet also reported that, at least in this phase, Doran does not plan to touch the retail center’s primary Hennepin Avenue-facing entry.
Details filed in a request for committee action with the City of Minneapolis show a 228-unit project with 20% of the homes, or 46 units, reserved at or below 50% of the area median income for 30 years. City documents also outline a pay-as-you-go tax-increment financing note of up to $6,264,000 and peg the total development cost at roughly $57.1 million.
Local coverage indicates the proposal cleared the Minneapolis Planning Commission and then survived an appeal from critics who wanted more street-facing retail. As the Hill & Lake Press reported, opponents argued the design would dull Hennepin’s retail energy, while supporters countered that adding residents is exactly what Uptown needs to stabilize.
The reshaping of the site will be significant. Finance & Commerce reported that Doran’s team plans to demolish the southern portion of the mall, including the CB2 building, shrinking the shopping center from about 234,879 square feet to roughly 173,080 square feet to clear room for housing. The same reporting notes that Doran representatives told city planners the shallow, roughly 30-foot-deep ground-floor bays make traditional retail tough to lease in this type of building.
What’s next
With the land deal now public, Doran and Seven Points owner Northpond Partners are expected to move into final permitting, financing, and the broader permit phase, although a firm construction start has not been nailed down. Reporting by the Minneapolis / St. Paul Business Journal on the sale underscores that, after years of planning, the project is shifting from the approval process toward actually getting built.
