Building Blocks: Revel Apartments

Address: 1300 W. Lake St., Minneapolis

Website:  www.revelapts.com/revel-minneapolis-mn/

Opened: Aug. 1, 2017

Occupancy rate: 35 percent (45 percent leased)

Monthly rents:$1,465-$2,895

Owner: The Carlyle Group, The Michaels Organization, CPM Cos.

Architect: ESG Architects

Property description:The apartment boom in Uptown Minneapolis continues unabated. The newest entry, Revel Apartments, is a stylish addition to a stylish neighborhood of housing between West Lake Street and Lagoon Avenue.

The six-level Revel — which has an outdoor rooftop patio with sweeping views of the city — has all the accoutrements of luxury living with one significant difference from its competitors. It has a 21,410-square-foot Target Express on the Lagoon Avenue side opening in October.

One of the highlights of the building is the third floor, which features a fitness center and an indoor community room with a gas fireplace, casual seating, pool tables and arcade games. The adjacent patio offers a bar area, gas grills, hammocks and a “dipping pool.”

Market research showed that few apartment residents swim, preferring to “dip” in cool water during the summer, said Brad Baar, leasing consultant. In winter, the dipping pool becomes a hot tub, with a heated walkway leading to it. “It’s been a huge selling point,” said Baar.

The building has 125 units and 150 parking spaces in a heated underground garage, 25 available for Target shoppers. The garage offers bike parking and separate car wash and dog wash stations.

Tenant mix: More than half the units are “alcove” apartments, followed by a mix of one- and two-bedroom units. Alcoves offer more floor space than studios and 10-by-10-foot bedrooms.  Apartments have balconies, 9-foot ceilings, stainless steel appliances and chrome finishes in the bathrooms and kitchens.

Interesting tidbits: Once the site of a legendary Cheapo music store, Revel celebrates that legacy in two ways. First, every floor has one large red letter from the “Cheapo” logo affixed to the wall next to the elevator landing. Second, the floor plans have names of famous musicians: “Armstrong” (Louis), “Dylan” (Bob), “Cook” (Sam) and so forth. While it has not become a budding hangout for musicians, it has drawn “a reflection of Uptown, with young professionals as well as retired couples who have left the suburbs and want a new experience,” said Baar.

Staff photographer Bill Klotz toured the apartment building:

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