Homeowners having to deal with the continuing loss of value.

Agents continually frustrated by trying to figure out new ways to spin the bad news.

Dinky Dome apartment project wins top Best in Real Estate honors

From Minneapolis / St. Paul Business Journal – by Sam Black

An apartment building and renovation of the historic Dinky Dome near the University of Minnesota received the award as the Best Overall project in this year’s Best in Real Estate awards handed out Wednesday night by the Minneapolis-St. Paul Business Journal.

The $38.6 million project, being developed by Kelly Doran, principal of Bloomington-based Doran Cos., also won the award for the Best Multifamily Development and Redevelopment – Market Rate.

Judges who considered all the nominees this year liked the project because of its timing — it created much-needed construction jobs during the recession — and because it preserved the historic Dinky Dome and enhanced the neighborhood. Sidney Hall also filled a need in the market. The building’s 125 apartments are 80 percent pre-leased and major tenants in the retail space include CVS Pharmacy, Wells Fargo Bank and Ebert & Gerberts.

Dennis Doyle, CEO of Welsh Cos., was awarded the Lifetime Achievement award for his success building up that commercial real estate firm since it was founded in 1977 and for the nonprofit that he started with his wife Megan in 2000 called Hope for the City.

The full list of Best In Real Estate winners are below (Check back Friday to see write-ups on each of the winners and more information about this year’s projects):

Industrial/Warehouse Development or Redevelopment

• Winner: Beacon Bluff Business Center, Phase 1
• Finalist: Standard Heating and Air Conditioning

Interior Renovation

• Winner: Cray Inc.
• Finalist: Nilan Johnson Lewis

Medical Development or Redevelopment

• Winner: Edina Crosstown Medical Office Building

Multifamily Development or Redevelopment — Affordable

• Winner: Alliance Addition
• Finalist: Creekside Commons

Multifamily Development or Redevelopment — Market Rate

• Winner: Sydney Hall and Dinky Dome, University of Minnesota
• Finalist: The Ellipse

Lifetime Achievement Award

• Dennis Doyle, CEO, Welsh Cos.

Office Development

• Winner: Lexington Preserve IV, Parametric Technology Corp.
• Finalist: Staring Lake Corporate Center, Phase 2, Acosta Inc.

Retail Development or Redevelopment

• Winner: 2111 E. Franklin Ave.
• Finalist: Columbia Sportswear, Uptown

Office Redevelopment

• Winner: Open Arms of Minnesota
• Finalist: University of Minnesota Urban Research and Outreach/Engagement Center

Lease — Industrial

• Winner: Fingerhut Direct Marketing Inc.
• Finalist: River Road Industrial Center, BP Wind Energy

Senior Housing Development or Redevelopment

• Winner: The Seasons at Maplewood
• Finalist: Nine Mile Creek Senior Living

Lease — Office

• Winner: Target Corp. at City Center
• Finalist: Cray Plaza

Third-party Managed Property — Office, Large (300,000 square feet or larger)

• Winner: Metropoint 600 Building
• Finalist: Campbell Mithun Tower

Third-party Managed Property — Retail

• Winner: Fountain Place Shopping Center

Third-party Managed Property — Office, Small (less than 300,000 square feet)

• Winner: Crescent Ridge Corporate Center I
• Finalist: 505 Waterford

AIA Minnesota and Business Journal Architect of the Year Award

• Michael Krych, Partner, BKV Group Inc.

Best overall

• Winner: Sydney Hall and Dinky Dome, University of Minnesota

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