Riverside Plaza will undergo major renovations this fall to make the complex more energy efficient, according to the Minnesota Daily.
The renovation will include an upgrade of mechanical and electrical systems, replacement of roofs, windows and patios and a possible paint job on the building's facade, according to the Minnesota Daily.
The project, which includes refinancing the buildings existing mortgage, is estimated to cost $90 million, according to the Minnesota Daily.
The renovation is an effort to preserve the 1,303 apartments, as replacement costs would be significantly higher, according to the Minnesota Daily.
Fredda Scobey, the executive director of the Riverside Plaza Tenants Association, said the renovations will be beneficial to both residents and owners, according to the Minnesota Daily.
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