Rochester Townhomes

Nörsq Companies is proposing a new construction, 186-unit single family rental housing community in the Northwest corner of Rochester, MN. Rochester is a city highly regarded for its world-renowned Mayo Clinic healthcare HQ (ranked #1 hospital in the world), great schools, park systems, retail, and close proximity to major employers. With record high single family home prices in the for-sale market, coupled with low inventory and high mortgage interest rates, this project seeks to provide the same benefits of homeownership, including larger living spaces, personal 2-car garage, and outdoor patio space without the headaches, upkeep and expense of homeownership. Specifically, with the Mayo Clinic recently announcing a $5 Billion hospital expansion to begin in 2024, thousands of high paying healthcare jobs will continue to drive the need for additional housing in the Rochester, MN market.

The project will include high-quality construction with an engaging Scandinavian design that compliments the adjacent buildings while creating its own unique identity. The site will include stainless steel appliances and LVT flooring. The townhomes will include 2 BD/2BA and 3 BD/3BA units. Amenities will include a dog park, walking trails throughout the site, pool, fitness center in the clubhouse, and kid's play area in the clubhouse.

The site has excellent access to US HWY 63, providing convenient travel to the #1 ranked hospital in the world, Mayo Clinic hospital (3.4 miles South), retail, recreation, and employment. Notably, the project is just down the street from a brand new HyVee grocery store, Mayo Clinic Express Care, Target, IBM Rochester Technology Campus (2,800 employees), Starbucks, and numerous regional retailers less than a mile away. The site also has direct access to a 13 mile paved regional trail system, Douglas Trail, which offers biking, hiking, horseback riding, snowmobiling and cross-country skiing.

Property Stats

• 400,475 Gross Building sq. ft.

• 186 units + Clubhouse building

• TDC - $68 million

• Construction start - Summer/Fall 2024

• Projected opening - Spring 2026