Co-developers Arcadia LLC and Ryan Companies US, Inc. are changing downtown Minneapolis’ skyline with the construction of ELEVEN, a condominium tower that will become the tallest residential building in the state when it officially opens. The tower will also be the tallest building to rise in Minneapolis since 1992.

Developers have reached a milestone in the construction of Eleven on the River, which when complete will be Minneapolis’ tallest residential building — and maybe the priciest. The Star Tribune reports that Ryan Cos. US Inc. and Arcadia have “topped off” the 42-story building overlooking the Mississippi River, meaning the last beam has been put in place. Completion is still a year away.

The developers of the 42-story Eleven on the River condo tower in downtown Minneapolis recently gathered to celebrate topping off what is now the tallest — and one of the most expensive — residential buildings in the city. On average, buyers will have to spend $1,000 per square foot — or $3 million per unit — to live in the building, which will be decked out with classic touches including paneled walls, marble counters and herringbone floors.

Starchitect Robert A.M. Stern put his signature design stamp on Eleven on the River, the new luxury condo building being built downtown. “There’s an elegance to his design,” said Martha Dayton, founder of Martha Dayton Design. “The building is classic, stately, sophisticated and classy — a beautiful mix of traditional form while keeping it current.”

Kroll said he’s been selling downtown condos for 20 years and nothing has wowed him like the Eleven project. “At this stage of construction, there isn’t much to be excited about other than being under construction, but as it goes up and people see how significant this project is, I expect their sales will jump,” he said. “Some will need to see the height, some the exterior finish, and some will need to see a finished project. There aren’t that many units, and I don’t expect they’ll have any trouble selling out this building.”

The Star Tribune reports on the sales pace so far for WMG Partners at Lakes Sotheby’s International Realty, which is selling the upscale units on behalf of developers Ryan Cos. US Inc. and Arcadia. Units range from $900,000 to more than $7 million.

On Tuesday, the developers also announced that they have tapped Chicago-based Sudler Property Management to offer customized concierge services at Eleven. “Eleven’s design is magnificent and unparalleled in the marketplace,” said Luigi Bernardi, CEO of Arcadia LLC, in a statement. “As a future resident of Eleven, I am looking forward to raising the bar on the standard of living and personal service for each homeowner; and Sudler provides a critical part of delivering that experience.”

The building, called “Eleven,” will be 41 stories, standing 550 feet in the air. For comparison, the IDS Tower is 792 feet tall, but 550 feet will still make it the tallest residential building in Minneapolis.

Randy and Gail Ross recently downsized from a suburban house on a lake near Minneapolis to a luxury condominium in the city’s downtown district— but they still have a water view.

Two developers say they are planning the next landmark skyscraper in Minneapolis.

Rising 550 feet along the riverfront in the Mill District, the Eleven would be the tallest residential tower in the state.

Minneapolis’ first luxury condominium project designed by a world-renowned architect has secured financing.

Luigi Bernardi spent the 1990s developing shopping centers; the 2000s developing medical office buildings; and next month he, in partnership with Ryan Cos. US Inc., will break ground on his most complex project yet, the 41-story Eleven condo tower in downtown Minneapolis.

Luigi Bernardi never got to build the pair of condo towers he dreamed of along Edina’s France Avenue, but fate may have guided him to another successful project, a 9,600-square foot retail development.

Ryan Cos. US Inc. and Arcadia are getting ready to break ground on a 41-story condo tower in the Mill District that will become the city’s tallest residential building. Alatus, meanwhile, is looking for a new financial partner.

The development team of Ryan Cos. US Inc. and Arcadia LLC have begun selling condos for their planned 41-story tower in the Mill District, and the get-in price isn’t cheap.

Luigi Bernardi’s latest venture is also his biggest — and splashiest — to date: A 41-story riverfront condominium tower.

Multifamily development in the Twin Cities has been booming for several years, adding thousands and thousands of new residential units to the metro. But almost all of those units have been rental apartments.