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Apolis

Deal: Sample site: Maple Hollow Apartments

Sample site: Maple Hollow Apartments

Sample

Southwest Minneapolis, Lynnhurst. Corner site, grocery anchor across the street. Parking ratio is the swing input.

A sample deal in the live format. Notes, documents and changes are sample records.

Stage
Feasibility
By right
Gate due
Jan 2027
Untrended yield clears 6.25% or the site dies, Sponsor
Days in stage
22
Updated Nov 2
Units
148
Ground-up
Total cost · estimated
$41.2M

Timeline

By right, 14 months from site control to close. Current phase: Feasibility.

  1. 1. Site control2 mo

    Complete
    Gate
    Purchase agreement executed, diligence period open
    Owner
    Counsel

  2. 2. Feasibility2 mo

    Current phase
    Gate
    Untrended yield on cost clears the screen
    Owner
    Sponsor

  3. 3. Design to permit set5 mo

    Ahead
    Gate
    Building permit application filed
    Owner
    Architect

  4. 4. Permitting3 mo

    Ahead
    Gate
    Building permit issued
    Owner
    City

  5. 5. Financing and closing2 mo

    Ahead
    Gate
    Loan and equity close the same day as land
    Owner
    Sponsor

Today's zoning carries the count. The city is a plan reviewer, not a vote. Months are the phase's illustrative default.

Tasks for Feasibility

1 of 6 closed. Stage entered Oct 16. Sample team.

  • ALTA surveyDue Nov 15

    Construction managerGates the stage

  • Phase I environmentalDue Nov 15

    Construction managerGates the stage

  • Geotechnical reportDue Nov 30

    Construction manager

  • Title commitmentDue Nov 15

    LegalGates the stage

  • City pre-application meetingDue Nov 30

    Development lead

  • Rent and sale comp studyDue Nov 6

    Analyst

Gate review: leaving Feasibility

0 of 1 partner has decided. Moving forward without approval shows a warning. Sample partners. Decisions are never edited; a change is a new entry.

  • Sample Dana OrtizPendingNot yet decided

Record decision

Decision

Name
Sample site: Maple Hollow Apartments
Stage
Feasibility
Units
148
Strategy
Ground-up
Zoning path
By right
Estimated total development cost
$41,200,000
Waiting on
Untrended yield clears 6.25% or the site dies
Gate due
Jan 2027
Gate owner
Sponsor
Days in stage
22
Note
Corner site, grocery anchor across the street. Parking ratio is the swing input.
Working surface
None yet
Location
Southwest Minneapolis, Lynnhurst (neighborhood centroid 44.906, -93.288)