Solhem Cos. is planning an $85 million development to bring 276 workforce apartments to Edina. Ten percent of the building's units will be affordable at 50% of the area median income; and the remaining apartments would be leased at rents lower than rates seen in other new apartment projects in Edina, according to a city of Edina staff report on the project.
The development would be the second phase of a Solhem project that’s already under construction, called Fred. That building will bring over 400 apartment units to the site when it opens next summer, said Curt Gunsbury, owner of Solhem.
The new building would replace a three-story office building and its parking lot in Edina's Pentagon Park. The site, located at 4620 W. 77th St., is immediately south of Fred Richards Park. Solhem plans to construct a =public plaza facing the park.