Hampshire Hill is a garden-style apartment community completed in 1987 comprised of 534 units in 7 three-story buildings over 30.19 acres. Hampshire Hill is located off Old Shakopee Road, a major east-west thoroughfare in Bloomington which connects two major highways; Highway 169 one mile west of Hampshire Hill, and I-35W which is located approximately 3 miles to the east. Furthermore, I-494, less than three miles north of the subject property, contains one of the major employment corridors within the entire Minneapolis market. Hampshire Hill features a mix of studio, one and two-bedroom apartment homes ranging from a 550 square foot studio apartment home to a 1,250 square foot two bedroom two bath apartment home. The apartment homes are located within 7 three-story buildings including convenient underground parking for its residents within each building.
Bloomington is one of the foremost suburbs of Minneapolis with the following four major companies headquartering within its borders: Ceridian, Donaldson Company, HealthPartners and Toro. Additionally, Seagate Technology, Express Scripts and Thermo King also employ nearly 4,000 combined workers within the city. The I-494 commercial corridor on Bloomington’s north side includes over 46 million SF and is home to major employers including the headquarters of Best Buy and Supervalu. Additionally, Mall of America, the largest enclosed mall in the United States, and its surrounding tenants employ 13,000 area workers in Bloomington. Other prominent shopping options include Eden Prairie Center to the west of the property and Southdale Shopping Center and Galleria Mall only minutes to the north. Families also enjoy award winning schools in Bloomington and recreation with the Minnesota Valley National Wildlife Refuge and its spectacular 14,000 acres located within the city.
The Minneapolis market continues to see very few new communities under construction as developers continue to find it difficult to finance new projects. Less than 500 units were delivered in 2009 and it is projected that less than 1,000 units will be delivered annually over the next four years. This severe lack of supply and the expected economic growth over the foreseeable future will bode very well for current owners with very favorable growth rates projected over the next five years. The Southwest Minneapolis submarket, home of Hampshire Hill, reflects similar metrics with no new properties currently under construction. Occupancies and rents are set to see continued improvement throughout 2010 with very good momentum heading into 2011 and continued strong increases over the next five years.
Interior unit amenities include interior storage area, bay windows, breakfast bar, ceramic tile baths, and in-unit washers/dryers in select units. Residents of Hampshire Hill may enjoy such community amenities as a new clubhouse building, fitness center, business center, walking and biking trails, outdoor pool, car wash facility, dog park, volleyball court, basketball court, playground and heated underground parking.