Next Phase of Construction Makes Way for First & Banks in Rochester
An overhead view of the former YMCA lot, which will now be home to First and Banks.
With demolition complete, Enclave will begin construction of First & Banks, a premier high-end multifamily community consisting of 219 apartment homes located at 709 1st Ave SW in Rochester. A redevelopment project, the site of the former YMCA is adjacent to Soldiers Field Veterans Memorial and within walking distance to downtown. As co-investor and long-term holder of real estate, Enclave will develop, construct and manage the property.
Doubling-Down on a Global
Medical Destination
With a bold long-term vision, Rochester’s commitment to progress, coupled with its position as the home of the renowned Mayo Clinic, a global medical destination, fuels economic prosperity and offers a conducive environment for continued population growth with low unemployment marked by a high quality of life.
“In identifying development opportunities, we carefully consider alignment with the community and area planning initiatives,” said Josh Wilcox, President of Development & Investments at Enclave. “We believe in the city’s vision, one that First & Banks is designed to enhance, and look forward to contributing to the realization of Rochester’s bright future.”
Bold. Forward. Unbound., a multiyear strategic initiative of Mayo, will reimagine the downtown Rochester campus with a $5 billion expansion commitment, the largest public or private investment in Minnesota history.
Exterior Rendering of First & Banks, designed in partnership with Momentum Design Group
Spaces Crafted for Comfort, Connection and Community
Designed in collaboration with Momentum Design Group, the project perfectly aligns with Enclave's philosophy of creating resident-centric communities underscored by distinct style and ultimate convenience. The result is carefully crafted projects that resonate with residents while being seamlessly woven in with the neighborhood and surrounding area.
First & Banks is anchored in a sophisticated palette that’s relevant yet timeless. From tiled floors to unique light fixtures and wall coverings, Enclave’s team invests in the right spaces to create experiences that feel reminiscent of a boutique hotel for a lasting and memorable impression.
Interior design selections for First & Banks
Beyond the careful planning and attention to interior details, Enclave’s team thinks beyond the building’s walls for a holistic living experience. With Rochester’s ample nearby recreation, First & Banks is uniquely positioned to maximize nearby green space, bike and trail connectivity, while offering close proximity to area retailers, dining and nightlife.
“Each of our developments is marked by a variety of dedicated spaces to relax, entertain, focus on wellness or simply grab your mail and enjoy a cup of coffee. While these amenities serve a functional purpose, it’s our perspective that the way they look and feel can bring even more joy to the resident experience, and design is something we’re thinking about in every step of the process.” - Patrick Brama, Developer
First & Banks is tracking to welcome its first residents home in fall 2025. Stay tuned for more updates as Enclave continues to shape the future of real estate in Rochester and beyond.
Lynvue Apartments, an Enclave project in Richfield, MN, that was recently completed.
Project Features
219 studio, 1, 2 and 3-bedroom units
15 two-story walkout units
Three rooftop decks
Clubroom with golf simulator
Fitness & yoga studio
Business center
Bike storage & maintenance station
Grab & Go Coffee Station & Mini Market
EV charging stations
Enclosed parking
Private unit balconies
Three blocks from Mayo Clinic
Walking distance to downtown
Adjacent to Soldier Field Memorial Park
Interested in partnering with Enclave on projects like First & Banks?
As a unified real estate investment firm focusing on multifamily, mixed-use and industrial spaces, Enclave’s generated over $1.5 billion in value for clients and partners since our founding in 2011. View our work and join our investor community!