Fifth Avenue Live work begins
Saturday, September 26, 2009
Work began in July on the initial phase of the Fifth Avenue Live project, which will include a St. Cloud State welcome center and a student housing complex. The $100 million project, which may encompass a total of five buildings upon completion, will help transform Fifth Avenue from downtown to the planned National Hockey & Event Center on the south end of campus.
Fifth Avenue Live is the work of a partnership that includes the Coborn family, Cornerstone Construction and local attorney Brian Schoenborn.
The welcome center and student apartment buildings will be sold to J.A. Wedum Foundation, a nonprofit organization that has helped develop senior and student housing in Minnesota communities such as Buffalo, Rochester, Minneapolis, Fridley and Mankato.
After the project’s completion, the University plans to lease the buildings for 10 years. Construction should be complete in time to rent apartments for the 2010-11 school year.