Schafer Richardson in partnership with Marco McLane celebrated the ceremonial groundbreaking of Olivine Apartments, a 145-unit market-rate housing community on Stieger Lake Lane in Victoria, Minnesota.
Olivine Apartments will consist of four stories of housing with one level of underground parking, and will provide a mixture of studio, one, two, and three-bedroom market rate apartments. Amenities include a club room, fitness center and sauna, outdoor pool and sundeck, private dining room with chef’s kitchen, co-working lounge, a golf simulator, as well as automated package delivery and dedicated bike storage. The development is within walking distance of Downtown Victoria and sits adjacent to the Carver Park Reserve so residents will enjoy undeveloped views of the Reserve and Lake Stieger.
Olivine was designed by UrbanWorks Architecture with civil engineering by Kimley Horn and structural design by Reigstad Engineers; the project will be constructed by Eagle Building Company. Funding for the project is provided by Associated Bank and the Ackerberg Group with tax-increment financing provided by the City of Victoria.
Construction began in November 2024 and first move-ins are anticipated for the Spring of 2026.
