Fargo-based developer Enclave has officially closed on Krew, a new multifamily community with ground-floor commercial space valued at $79.9 million in Shoreview, Minnesota.
Enclave Construction will break ground on the 293-unit community this June and expects a two-year construction schedule, with the final building complete by June 2028. The construction firm will build in phases, allowing residents to move in before the project is fully complete.
Enclave has partnered with the City of Shoreview to provide new housing at a transformed interchange in a highly visible, strategic redevelopment area. The property includes well-appointed landscaped grounds, ample parking, and a plaza with a gazebo and seating. This space is publicly accessible via trail/sidewalk connections. In an effort to expand affordable housing options, the city has invested in the project through a 25-year TIF. Krew will feature 80% market-rate apartments and 20% affordable apartments.
Krew epitomizes suburban living, with walkable access to parks, popular restaurants, and retail options. The property has 360° lake views and is near Lake Owasso Park and Vadnais Snail Lake Regional Park Trail. The community is expanding through significant investments, such as the nearby Seven Lakes Redevelopment, which brings new office and industrial space and generates new job growth.
Krew includes a mix of one-, two-, and three-bedroom apartment homes in a four-story building with state-of-the-art amenities, including a pool, outdoor dog run, dog spa, sports simulator, fitness and yoga studio, clubroom, and rooftop patio. The property will also feature unique live-work units that support local small business owners who operate out of their residences. These units feature street-level entrances.
Enclave will develop, construct, and manage Krew, adding to the company’s growing Twin Cities project portfolio. Since 2019, Enclave has completed 15+ projects across the metro, and recently completed two new properties, Ever Apartments and Velwood Residences, adding over 250 units. For more information, visit enclavecompanies.com.
