News

Active 55+ Concept Expands

Roers Companies continue to break into the active 55+ market with Risor properties now in development in Apple Valley, Bloomington, Maple Grove, and St. Louis Park. "The Risor brand aims to fill the so-called “missing middle” of senior housing, appealing to active older tenants who aren’t quite ready for true senior housing but are eager to downsize," said Andy Bollig,...

Roers Cos. Eyes Salt Lake City Expansion

Roers Cos. plans to add 397 housing units in three, six-story apartment buildings in Salt Lake City’s North Temple transit corridor. The unnamed apartment project would provide a mix of one-, two- and three-bedroom homes and continue filling a queue of ongoing and upcoming projects of all sizes along the transit corridor on the capital’s west side. Read the full...

First Residents Move in to Roers Cos. Largest Project Yet

Beyond Apartments in Woodbury is Roers Cos.’ largest project to-date with 255 apartments, and the first phase of the building opened to residents on September 18. The second phase will open later this fall. This two-building (four- and five-story) project is within Woodbury’s City Place district, which is a mixed-use, pedestrian-friendly village with shops, grocery, stores, and entertainment. There is...

Red44 Sold for Record Price in Rochester

Red44, a 159-unit apartment complex in Rochester, has sold to Regency for $34 million. JLL marketed the property on behalf of Roers Cos. Investments, LLC & Reuter Walton Development. Built in 2017, Red44 was developed using a private-funding model whereby high-net-worth individuals from the region invested in the project, so proceeds from the sale will remain in the area. Red44...

Wisconsin’s Largest Privately Owned Affordable Housing Breaks Ground

Roers Cos. and our project partners broke ground on Community Within the Corridor (CWC). This $66 million project is developed by Scott Crawford, Inc. and Roers Cos. on 32nd and Center. The CWC team consists of Lead Developers Que El-Amin and Roers Cos., Program Manager Mikal Wesley, Construction Manager Tia Cannon and Governmental Relations Rayhino Boynes with design by Continuum...

Sixth Senior Living Community Opens in Maple Grove

Havenwood of Maple Grove, a new senior living community located at the intersection of Bass Lake Road and County Road 101, opened its doors to the first residents today. The $33 million, 200,000 sq. ft. community is the sixth in the portfolio developed and owned by Minnetonka-based Roers Cos.. This is the second Havenwood Senior Living location to open since...

Roers Companies to Break Ground on First Active 55+ Development

Roers Companies will break ground this week on the first property in a new collection of age-restricted apartments and townhomes for the active 55+ market, called Risor. The $44 million, 277,000 sq. ft. community will welcome its first residents in the fall of 2022. The company closed on the 4.8-acre property purchase last week. Additional active 55+ communities within the...

Havenwood of Minnetonka Ranks Among Top 15% of Senior Living Communities

Havenwood of Minnetonka, one of Roers Cos.' six Havenwood Senior Living locations, was recently recognized in nine award categories from Pinnacle Quality Insight, a customer satisfaction measurement firm. Pinnacle surveyed residents, patients, and families over the past 12 months to identify Havenwood of Minnetonka as a best-in-class service provider for seniors. Earning the 2021 Customer Experience Awards from Pinnacle means...

Venue Apartments Named to 2020 Elite 1% ORA Power Ranking List

Congratulations to our staff at Venue Apartments in Chanhassen, Minn. for earning a place on the Elite 1% ORA Power Ranking for 2020! To compile this annual list, J Turner Research investigates the online reputations of more than 122,000 multi-family properties and identifies the top 1%. We're incredibly proud of our elite team at Venue for reaching position No. 381. Learn...

Roers Cos. Ranks No. 3 Among Top Twin Cities Developers

Roers Companies climbed from No. 5 to No. 3 on the Minneapolis/St. Paul Business Journal's annual list of the most active commercial real estate developers in the Twin Cities. The publication ranked firms by square feet developed in the metro area between 2018–20. Since 2018, Roers Cos. has opened four Havenwood Senior Living communities, Venue Apartments and the adjoining ALDI...

Star Tribune: As 2020 Winds Down, Roers Cos. is Ramping Up

Roers Cos. Sees Opportunities in Changing Rental Housing Market The following excerpt appeared in a 12/18/2020 article by Jim Buchta in the Minneapolis Star Tribune As 2020 winds down, Roers Cos. is ramping up. The Twin Cities-based apartment developer is responding to changing market conditions with a national expansion that has nearly tripled a development staff that will be tasked...

Roers Triples Down on Real Estate Development

Media Release Roers Companies Triples Down on Real Estate Development MINNETONKA, MINN. — November 30, 2020 — Roers Cos. is declaring its clear intent to thwart the economic chaos of 2020 and seize new opportunities that invest in long-term growth for the firm. The multi-family real estate developer, already ranked as a top-five Twin Cities developer, typically kicks off six...

Burnsville’s Maven Apartments Sells for $29 Million

Roers Companies closed on their $29 million sale of Maven Apartments today. The 137-unit community was the first new apartment development in Burnsville in 14 years, and its novelty proved successful in attracting renters. Its lease-up timeline was just four months — the community achieved stable occupancy with 95% of the units rented 11 months ahead of the firm’s schedule....

Northlake Lofts Breaks Ground in Lakeville

Below is an excerpt from an article, "Roers building Lakeville apartments," that appeared in Finance & Commerce on Monday, October 12, 2020. Minnetonka-based Roers Cos. has broken ground on a $41.5 million apartment building in Lakeville, the development company’s first project in the south metro suburb. The Northlake Lofts project, scheduled for completion in spring 2022, will bring 208 market-rate apartments to...

Roers Companies and Partners Sell Spectrum Apartments & Townhomes

Roers Companies and Reuter Walton Development closed yesterday on their $26 million off-market sale of 118-unit Spectrum Apartments & Townhomes to a private investor. The resort-style community located near the University of Minnesota welcomed its first residents in August of 2017, and was the only student apartment community with an outdoor pool when it opened. In addition to the popular...

Roers’ Amy Johnson Honored as 2020 Rising Young Professional

Finance & Commerce held a virtual celebration on Thursday evening honoring the recipients of their 2020 Rising Young Professionals awards. The 30 honorees were selected by an independent panel for distinguishing themselves in their industries and communities. Roers Companies celebrates our own Director of Marketing & Leasing Amy Johnson among these impressive young professionals. Amy manages a marketing and leasing...

Urban Milwaukee: Biggest Ever Affordable Housing Project Advances

Below is an excerpt from the June 30, 2020 Urban Milwaukee article by Jeramey Jannene. The biggest proposed affordable housing development in the city took a major step forward Tuesday morning. The Common Council’s Zoning, Neighborhoods & Development Committee unanimously endorsed a $3.15 million financing package for the $59 million, 197-unit The Community Within the Corridor development. Developer Que El-Amin, through...

Milwaukee Project Unanimously Endorsed by City’s Development Committee

Below is an excerpt from the June 30, 2020 Milwaukee Journal Sentinel article "City cash totaling $3.1 million endorsed for a $59 million mixed-use development on Milwaukee north side" by Tom Daykin The planned transformation of a large, historic Milwaukee central city industrial site into affordable apartments, as well as commercial and community space, would get city financing help under...

Havenwood of Onalaska Hosts Virtual Open House

Havenwood Senior Living hosted a virtual open house via Zoom on June 30 for those interested in a closer look at the new community in Onalaska while COVID-19 visitor restrictions remain in place. News8000 highlighted the unique event for the La Crosse and Onalaska community. Below is an excerpt from the online article. A new senior living center is opening...

Milwaukee Journal Sentinel Features Community Within the Corridor Project

Below is an excerpt from the June 5, 2020 Milwaukee Journal Sentinel article "How a young Milwaukee developer landed a large Minneapolis partner for his $59 million north side project" by Tom Daykin Que El-Amin had the idea: convert a large former industrial complex on Milwaukee's north side into apartments and commercial space - investing $59 million in one of...

N&E Apartments Sells for $22.9 Million

Reuter Walton Development and Roers Cos. closed on their sale of 93-unit N&E Apartments today to Summit Townhome Investors, LLC. The transaction comes just two months after the new Northeast Minneapolis apartment building opened its doors to the first residents on March 27. The community located at 13th Avenue Northeast opened at over 50 percent preleased — well ahead of...

Finance & Commerce Honors Venue Apartments as a Top Project of 2019

On May 5, Finance & Commerce published its 12th annual Top Projects list honoring "the best in the built environment from across the state." Nearly 100 construction projects completed in 2019 were nominated for this honor, and Roers Cos.' Venue Apartments stood out among the best. Our team is proud to be included among the most impressive real estate development projects...

Maven Apartments Sets New Record for Roers Cos.’ Lease-Ups

Opening at 60% leased on April 15, Maven Apartments in Burnsville is Roers Cos.' most successful lease-up to date. The challenges of marketing and leasing during the COVID-19 crisis haven't showed interest or leasing activity for this new development in the Twin Cities' southern suburbs. Below is Roers Cos. media release celebrating the success of this project amidst unprecedented challenges....

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