Schmidt Brewery Lofts
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
Schmidt Brewery Lofts
Reviving a Community Landmark
The future of the historic Schmidt Brewery has been a topic of much speculation. Once a thriving hub employing over 400 workers, the brewery has stood vacant since 2004. Council Member Dave Thune sees it as a "symbol of the Seventh Street community" and aims to "bring life and liveliness back into the neighborhood."
Developers Jeff and Craig Cohen, who acquired the 100,000-square-foot, 15-acre complex in January, have unveiled an exciting plan. Inspired by the Carleton Artist Lofts on University Avenue in St. Paul, they intend to create a vibrant urban village called Brew Town.
A Vision for Brew Town
The Cohens’ vision includes transforming the historic, castle-like structure into 150 live-work spaces for artists, along with retail shops, offices, housing, restaurants, and a hotel. The project aims to offer pedestrian-friendly amenities, meeting local needs with facilities like grocery stores, cleaners, and theaters, all while preserving the building's historic design.
Priced at $25 million, this project seeks to preserve a community icon and rejuvenate the area. The Seventh Street neighborhood, rich in arts and potential, currently lacks affordable housing for artists. This development is poised to change that and may set a trend for future community-focused projects. The Cohens also plan to incorporate green space and sustainable design, tackling challenges like preserving the brewery’s caves, artesian wells, and historical artifacts.
Expertise and Vision
Jeff Cohen, a nationally acclaimed architect from Washington, joins his son Craig on this endeavor. Known for iconic developments like Waterview at Bayside in Portland, Maine, and the Maine Lakefront Homes at Sanctuary Cove, Jeff Cohen enjoys creating buildings that seamlessly blend into their surroundings.
"I've developed projects with a few residences and others with hundreds," Cohen shares. "All involve crafting first-class living spaces. The buildings I develop must be places I'd want to live myself."
The Schmidt Brewery Lofts project promises not only to breathe new life into an iconic landmark but also to spark a revival throughout the Seventh Street community.
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