Historic Flour Exchange Building in Downtown Minneapolis to Become Affordable Housing
Minneapolis-based Trellis Co. is planning a bold transformation of one of the city’s most iconic historic buildings—the Flour Exchange Building—into a 110-unit affordable and mixed-income residential development.
Built in 1892 and located at 310 Fourth Ave. S., the 12-story Flour Exchange Building holds a special place in Minneapolis history. It was the first steel-and-concrete high-rise ever built in the city, designed by the architecture firm Long and Keys, who also created Minneapolis City Hall. The building’s unique floorplates and U-shape design make it surprisingly well-suited for a residential conversion. Now, it’s getting a second life as affordable housing.
Hennepin County’s Housing and Redevelopment Authority has committed $600,000 toward the project, and the building's listing on the National Register of Historic Places means Trellis Co. can likely take advantage of historic tax credits to help with funding.
The nonprofit Trellis purchased the 93,352-square-foot building in late 2024 for $3.48 million, and while the structure was marketed as a candidate for hotel or mixed-use redevelopment, it’s now clear that the future of this historic space lies in housing. This project is part of a larger strategy by Trellis to expand affordable housing access across the city, with additional developments planned on Cheatham Avenue and Lyndale Avenue in South Minneapolis.
As the Twin Cities continues to face housing shortages, especially downtown, adaptive reuse projects like this not only preserve architectural heritage but also provide much-needed housing solutions.
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