Will the planned Minnesota commercial real estate projects breathe new life and energy into the creative zone, or do they spell a change of direction for local "makers" who might be priced out of the zone that was intended to encourage affordable live and work spaces?
Will High Prices Lead to Dying Creativity?
Rising prices, high demand and new development costs have all been cited as elements that contribute to the current high, and continually rising prices for housing in the Twin Cities and throughout the nation. The dilemma of shrinking opportunities for medium-to-lower-income renters is not limited to specific areas, however, and solutions are not easy.
Affordable housing initiatives that require a certain percentage of units in new
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Ground has been broken on a 402-unit housing project at Bloomington Central Station, a 50-acre master-planned site that is expected to revitalize the city's South Loop District. The third multi-family project at the site, The Fenley is among the first ground-up projects to begin as part of the Minnesota Opportunity Zone endeavor authorized by federal legislation approved in 2017.