An industrial property on the edge of the North Loop will soon be repurposed as a modular construction plant.

George Group North paid $11.8 million for the 83,000-square-foot former printing facility at 1400 Washington Ave. N in a deal that closed on March 20, according to a public filing with the Minnesota Department of Revenue.

The Plymouth-based real estate company is led by Devean George, a former NBA player from North Minneapolis, who hopes the plant will help boost the area’s affordable housing supply.

George told Finance & Commerce that a $5 million buildout should start in April and wrap up by September or October.

The property at 1400 Washington Ave. N is just outside of the North Loop. Image courtesy of Google Maps

All in all, the project is expected to cost over $31 million, according to a staff report for George Modular Innovation Solutions. The project recently secured a $2 million loan from the City and a $3 million grant from the State.

George Group North originally planned a modular construction plant at 415 Royalston Ave. N in the North Loop, but that property isn’t zoned for manufacturing.

The company’s previous projects include Commons at Penn and Penn Avenue Union, both of which received City financing and were developed on City-owned land in North Minneapolis.

Downtown Voices considers the Washington Avenue site in the Near-North neighborhood, near Pryes Brewing Co. and the Minneapolis Bouldering Project, within its coverage area.