Another micro apartment building set to open in Minneapolis, with rent starting at $1,450

The rent includes utilities, and the apartments are mostly furnished.
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The growing trend for "micro" studio apartments continues in Minneapolis, with a new building set to open in the Powderhorn neighborhood in February.

Called SoPHI ("South of Phillips") at Chicago Avenue and Lake Street, the $10 million project is the work of John Wolf, who owns the adjacent Chicago-Lake Liquors.

Wolf describing it as an "all-inclusive" apartment experience, with the units coming pre-furnished with a foldaway bed frame and mattress, loveseat, bookshelves and storage, all of which has been "handmade in Italy."

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The building itself meanwhile will be home to the returning Taqueria Los Ocampa restaurant and bar, which had to move out while the building was developed, and will double its space to 4,000 square feet.

It also provides on-site parking, a 24/7 fitness center, and bike storage.

The partially-furnished units will have between 461-547 square feet of space, with rent starting at $1,450 per month – albeit with all utilities included.

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This is more than the average rent of $1,059 in Minneapolis for a studio apartment as detailed by the Star Tribune earlier this year, while the average size for a studio apartment in Minneapolis, according to Rentcafe, is 791 square feet.

At $1,450-a-month, Zillow estimates that you need net income of around $3,500-per-month to be able to afford it, which is around the level of a $50,000-$60,000 gross salary. 

It's the latest micro apartment development in the Twin Cities, as developers try to appeal to young professionals looking for more manageable spaces.

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Earlier this year, City Club Apartments in downtown Minneapolis opened its doors, with some of its 307 units being one-room studio apartments of just 358 square feet, renting for $1,250-a-month.

Other micro-unit buildings include Coze Flats in Northeast Minneapolis, where units start at 402 square feet, and the Ray building in St. Paul, and where units are between 372-505 square feet.

The team behind SoPHI says the building is aimed at renters looking for "easy living," as well as appealing to those "who don’t want to live downtown or in Uptown but want to be close to both."

You can find more information about SoPHI here.

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