Lease changes for new downtown Rochester apartment complex

ROCHESTER, Minn. (KTTC) – Private developers invested $26.5 million dollars last year in downtown Rochester. That’s down nearly $45 million the year prior.

A large chunk of that money comes from this massive apartment complex at the intersection of North Broadway and Civic Center Drive. It’s called Bryk on Broadway Apartments.

Earlier this week, city leaders agreed to increase income limits to fill some of these income-based units. Thursday, the DMC-C executive board also signed off on the move.

In general, it’ll allow for Bryk to open more apartments to the general public.

“Acting as Economic Development authority, the city council did approve change on Monday. There was discussion for the shorter time limit, and also openness to flexibility. with the most important thing to provide housing for folks.” Rochester city administrator Alison Zelms said.

Bryk has a development agreement with the city that allows for income-based housing in exchange for financial help in tax-increment financing.

For the next six months, more than 50 Bryk apartments will be open to rent for those earning more than the median income.