Commercial Property Executive
(11/11/2013 1:45 AM, Gabriel Circiog)

The historic Minneapolis housing development Riverside Plaza has earned the 2013 National Trust/HUD Secretary’s Award of Excellence in Historic Preservation.

Located near downtown Minneapolis, the Cedar Riverside neighborhood has been one of the points of arrival for immigrants since the late 19th century. After World War II, the neighborhood declined and developers decided to turn 100 acres of low-density properties into a diverse community. With financing from a major HUD initiative, the Cedar Square West project featured 1,300 apartment units and some commercial space. Although the project was a success at its inception, it slowly declined due to various factors.

HUD Secretary Shaun Donovan added, “There’s something wonderful about producing homes working families can afford, creating jobs and stimulating economic growth while at the same time remaining true to the historic character of a neighborhood. Riverside Plaza has been a fixture in its neighborhood for generations, and with this thoughtful redevelopment, it will continue to live on for many years to come.”