Construction has officially begun on "Artessa Mound Harbor," a cooperative living community catering to individuals aged 62 and above in Mound, Minnesota. This project, situated on Auditors Road near Lake Minnetonka, is slated to encompass 125,000 square feet of living and communal spaces. Anticipated to be completed by August 2024, Artessa Mound Harbor is the result of a collaborative effort between Artessa Development, an affiliate of Lifestyle Communities responsible for the co-op community's concept, and the architectural expertise of Kaas Wilson Architects, with construction and interior finishes being handled by Adolfson & Peterson Construction.
A Noteworthy Addition to the West Metro
Blake Invie, Project Manager at AP, expressed his enthusiasm for the project: "The West Metro area continues to demonstrate a demand for top-tier amenities and well-constructed properties among potential community members. We are pleased to be contributing to this redevelopment by creating a modern living facility at the heart of the walkable Mound neighborhood. This venture marks an opportunity for AP to further establish itself in the senior living sector and to cultivate a productive partnership with Artessa Development and Lifestyle Communities, extending to communities nationwide."
Artessa Mound Harbor is set to comprise 52 high-end senior co-op residences, offering 11 distinct floor plans ranging in size from 1,006 to 1,905 square feet. What sets this co-op community apart from other senior housing options is the extensive range of personalization choices available to residents in each unit. Members have the freedom to select from various home plans situated across four floors of cooperative living.
The main floor will serve as a focal point, featuring approximately 6,150 square feet of indoor amenities and nearly 2,000 square feet of outdoor living spaces, seamlessly extending the private residence experience. Among the highlights are pickleball courts, fitness areas, communal lounges, a woodshop, a coffee bar, liquor lockers, a community kitchen, and a theater. Exterior features will include inviting gathering areas, firepits, grill stations, and a charming terrace.
Dena Meyer, President of Lifestyle Communities, Artessa Development, explains, "Artessa Mound Harbor offers members an alternative to owning a single-family home or townhome. It's an appealing option for those who wish to enjoy a home where they collectively own and manage the cooperative community they call home."
In Artessa communities, members purchase a share in the cooperative corporation, which includes ownership of the land, building, and common areas. This type of residential housing ensures steady annual growth of members' equity at a fixed rate of return of the initial share payment, guaranteeing long-term affordability and marketability.
Throughout the project, AP has maintained a strong commitment to engaging with the community, city officials, and local businesses. They've collaborated closely with neighboring businesses, ensuring their uninterrupted operations during the construction phase. Additionally, the project team has rigorously implemented a stringent stormwater management plan to safeguard the pristine waters of Lake Minnetonka.
As the construction of Artessa Mound Harbor progresses, the vision of a vibrant and inclusive community for our senior citizens is taking shape, generating a sense of anticipation in Mound. Stay tuned for further updates as this exciting project unfolds, bringing new life and opportunities to our cherished town.