October 2019

What used to be surface parking in downtown Minneapolis has virtually disappeared, transformed into new condos, apartments and offices, according to a recent report on available development tracts in the heart of the city.

More than 63 acres of undeveloped land existed in the downtown core a dozen years ago, according to a recent Business Journal survey. Today, after a decade-long building boom, less than 20 acres remain undeveloped, and the word is some of the landowners are simply not interested in selling.

Whether that's good news or worrisome depends on which side of the development table one sits.

Actual versus Potential

The apartment and condo market has been particularly strong in downtown Minneapolis in recent years. The trend

Tomorrow's office buildings are going to be different. Designers and architects, as well as construction professionals and property managers in Dakota County, recognize the growing emphasis on building health and the needs of a multi-generational work force.

Amenities are the name of the game for offices of the future, but the expected perks may vary depending on the age of the work force. Millennials are known to love their coffee, while other workers prefer game rooms or multi-purpose break rooms where they can unwind and enjoy a little personal time. Some simply zone out with a video or video game. Older workers, including Baby Boomers not ready to retire, appreciate rooms where they can gather with coworkers to socialize, network, toss around

Commercial and residential real estate transactions differ greatly. Crow Wing County buyers will notice big differences in everything from acquiring financing to negotiating the purchase terms. They can prepare for this process by using this guide to learn all they need to know. That way, they can find and acquire their ideal commercial property with confidence they are taking all the right steps.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Balloon Mortgages are the Most Common Financing Option

To finance the purchase price of a commercial property, buyers must approach a bank or other lender to learn about their loan options. For commercial

At 41 stories tall, Eleven will become the tallest residential building in Minneapolis, dwarfing St. Anthony Falls and the Stone Arch Bridge over the Mississippi that it will overlook. Its condos, beginning at $900,000 for a 1,400 square-foot unit, will be among the city's priciest. But they will be unique, according to Mike Ryan, market president of Ryan Cos., the developer that is partnering with Luigi Bernardi's Arcadia to construct the tower. Ryan calls the units the equivalent of "a single-family home" in the city's downtown core rather than "a really nice apartment."

Construction was slated to begin this month.

The building reflects Bernardi's vision for "something different." A Twin Cities area developer for more than 40 years, he and his