First & Banks Apartments in Rochester, MN

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First & Banks

705 1st Ave SW
Rochester, MN 55902
(507) 516-6129

About First & Banks

Find the ultimate home sanctuary in Rochester, MN. First & Banks offers spacious studio, 1, 2 and 3-bedroom apartments with sophisticated finishes and all-inclusive access to intentional on-site amenities. The property also features premium two-story walk-out units and seventh-floor penthouse units with upgraded finishes. The pet-friendly community is located three blocks from the Mayo Clinic and within walking distance to downtown. Enjoy park views and access to walking paths, tennis courts, a playground and a recently completed aquatics center. Unit features: elevated 9-foot ceilings, walk-in closets, in-home washer & dryer, upgraded painted cabinetry, open-concept living spaces and stainless steel appliance package. Select units have upgraded finishes and features. Community amenities: fitness & yoga studio, third-story amenity deck with grilling stations and spa, grab-and-go mini market, grand lobby with dedicated mail and package room, bike storage, community clubroom with kitchen and fireplace, multi-sports simulator, pool table, outdoor courtyard, exclusive seventh-floor amenity deck and clubroom and makers crafting room.

First & Banks is located in the Downtown Rochester Neighborhood and 55902 Zip code of Rochester, MN. This community is professionally managed by Enclave Property Management

Property Contact Info

Call Us: (507) 516-6129

Ask About Our Move-In Specials

Floorplan Pricing and Availability

First & Banks offers Studio to 3 Bedroom apartments starting from $1,500 and having 507–1,739 sq ft. Here is the current pricing and availability:

Studio
1 Bedrooms
2 Bedrooms
3 Bedrooms

Rhodes (A1)

From $1,525

Studio, 1 Bath, 532 sq ft

Plus Fees

Available Dec 3

Model Gallery

Photos

Availability Details

Price	Availability Date	Unit	Sq Ft	Deposit	View Details
$1,560	December 3, 2025	614	532	$500	View Details Below
$1,525	December 3, 2025	619	532	$500	View Details Below
$1,560	December 3, 2025	622	532	$500	View Details Below

Model Amenities and Features

Features

Fireplace
Tenant Controlled HVAC
Washer/Dryer
Windows

Kitchen

Kitchen
Range
Stainless Steel Appliances

Model Lease Information

Model Price Range

$1,525 - $1,675

Current Available Pricing

$1,525 - $1,560

Deposit

$500 deposit

Unit 614 Amenities and Features

Unique Features

Park View

Unit 614 Lease Information

Unit Price

$1,560

Deposit

$500 deposit

Unit Description

Unwind in sophisticated spaces and enjoy resort-class amenities like a fitness & yoga studio, three rooftop decks, EV charging stations, a complimentary coffee station and 24/7 mini market. First & Banks' studio, 1, 2, and 3-bedroom floor plans were expertly designed to maximize space and create unique layouts, including premier two-story walkout units. Each apartment home is filled with natural light, featuring open-concept contemporary kitchens and an in-home washer and dryer. Upgraded hand-picked finishes include wood-inspired flooring, tile backsplash, and quartz countertops that create an upgraded living experience. Neighboring a 150-acre public park complete with tennis courts, a running track, and a newly remodeled pool and aquatics area, the community provides access to the ultimate outdoor recreation within walking distance to downtown Rochester and the Mayo Clinic. *Rents and availability are subject to change. Contact the property office for exact pricing and available units. *Price shown is Base Rent - additional non-optional fees not included. Residents are required to pay: one time application fee ($50 per applicant), one time administration fee ($200 per unit), monthly technology package fee ($65 per unit), security deposit ($500 one-time refundable). Utilities included in base rent: none. Utilities not included in base rent: trash, in-unit electric, in-unit gas, water/sewer (varies based on usage), and $8 per unit monthly utility admin fee.

Model Rent and Fees

Model Price Range

$1,525 - $1,675

Unit 619 Lease Information

Unit Price

$1,525

Deposit

$500 deposit

Unit Description

Unwind in sophisticated spaces and enjoy resort-class amenities like a fitness & yoga studio, three rooftop decks, EV charging stations, a complimentary coffee station and 24/7 mini market. First & Banks' studio, 1, 2, and 3-bedroom floor plans were expertly designed to maximize space and create unique layouts, including premier two-story walkout units. Each apartment home is filled with natural light, featuring open-concept contemporary kitchens and an in-home washer and dryer. Upgraded hand-picked finishes include wood-inspired flooring, tile backsplash, and quartz countertops that create an upgraded living experience. Neighboring a 150-acre public park complete with tennis courts, a running track, and a newly remodeled pool and aquatics area, the community provides access to the ultimate outdoor recreation within walking distance to downtown Rochester and the Mayo Clinic. *Rents and availability are subject to change. Contact the property office for exact pricing and available units. *Price shown is Base Rent - additional non-optional fees not included. Residents are required to pay: one time application fee ($50 per applicant), one time administration fee ($200 per unit), monthly technology package fee ($65 per unit), security deposit ($500 one-time refundable). Utilities included in base rent: none. Utilities not included in base rent: trash, in-unit electric, in-unit gas, water/sewer (varies based on usage), and $8 per unit monthly utility admin fee.

Model Rent and Fees

Model Price Range

$1,525 - $1,675

Unit 622 Amenities and Features

Unique Features

Park View

Unit 622 Lease Information

Unit Price

$1,560

Deposit

$500 deposit

Unit Description

Unwind in sophisticated spaces and enjoy resort-class amenities like a fitness & yoga studio, three rooftop decks, EV charging stations, a complimentary coffee station and 24/7 mini market. First & Banks' studio, 1, 2, and 3-bedroom floor plans were expertly designed to maximize space and create unique layouts, including premier two-story walkout units. Each apartment home is filled with natural light, featuring open-concept contemporary kitchens and an in-home washer and dryer. Upgraded hand-picked finishes include wood-inspired flooring, tile backsplash, and quartz countertops that create an upgraded living experience. Neighboring a 150-acre public park complete with tennis courts, a running track, and a newly remodeled pool and aquatics area, the community provides access to the ultimate outdoor recreation within walking distance to downtown Rochester and the Mayo Clinic. *Rents and availability are subject to change. Contact the property office for exact pricing and available units. *Price shown is Base Rent - additional non-optional fees not included. Residents are required to pay: one time application fee ($50 per applicant), one time administration fee ($200 per unit), monthly technology package fee ($65 per unit), security deposit ($500 one-time refundable). Utilities included in base rent: none. Utilities not included in base rent: trash, in-unit electric, in-unit gas, water/sewer (varies based on usage), and $8 per unit monthly utility admin fee.

Model Rent and Fees

Model Price Range

$1,525 - $1,675

Reed (B2)