Building Cranes

Yes, Minneapolis may be the worst performing residential market according to Case-Shiller’s just-released March numbers (down 10% year over year, the largest drop in the top 20 markets that Case-Shiller measures).

Nevertheless, there is a mini-building boom apace in Minneapolis’ Uptown neighborhood, just northeast of Lake Calhoun and southeast of the Lake of the Isles.

The three projects — all easily identified by their multi-story building cranes — are:

•1800 Lake.  A mixed-use project at Lake and Knox.  

•MoZaic.  Another mixed project (office, parking, public plaza, and restaurant) now rising at Lake and Lagoon.

•The Greenleaf.  Another — you guessed it — mixed use project going up at Lyndale and 28th St.

All three of the developments are being driven by increased density and a renewed preference for rentals (vs. condo’s) Uptown (the latter phenomenon is not unrelated to the punk Case-Shiller numbers just reported).

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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