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Historic Board of Trade building to open doors for apartment units

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DULUTH, MN. -- The effort to turn a historic downtown Duluth building into apartments is almost complete.

The historic Board of Trade building in Downtown Duluth will once again open it's doors.

This time, bringing new apartments to the city.

"We are just excited to be able to provide additional housing, 84 new units on the market at affordable rates for this community," said Alex Rogers, Principal Broker with East West Property Management.

Construction began last month, and Rogers said the pandemic hasn't slowed progress, just how they normally showroom to the public.

"We are still showing the apartments but on a limited basis. We've pivoted to having 3D model tours and virtual showings and then obviously have everyone wear masks," said Rogers.

To help with the housing shortage in Duluth, 17 units will be set aside for affordable housing.

Studio apartments start at $799 per month, with 1 bedroom at $975. Rogers says those prices are competitive.

"The leasing process has been fairly robust. A lot of people have been very interested in the building due to really good price points and very nice finishes of the apartments," said Rogers.

Units will be available for move-in starting in two to three weeks when 30 apartments will be ready.

Those moving in will see a lot of history still inside the building.

"Part of the process has been retaining a lot of the historic charm. From cool shortage spaces that are converted from old safes to beautiful oak doors and everything in between," said Rogers.

The rest of the apartment will be finished by the end of 2020.

Rogers tells us they are still looking for commercial tenants for the lower level and retail or coffee shops to be put in as well.

Ryan Compeau

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