With 2,053 downtown units under construction, the Minneapolis condominium market begins to deflate.
The condo craze of the recent past is now a developer's nostalgic memory in Minneapolis. As more single-family homes crowd the market, condominiums are starting to see a comparable slowdown. The question for real estate watchers: Which projects will fall by the wayside under pressure from softening sales?
"It's too soon to say how many projects will fall by the wayside and when. So far, none of the developers who have started marketing their projects have pulled the plug. In fact, several large national developers are pursuing development plans in Minneapolis as a vote of confidence that the condo market has long-term viability. That includes a luxury high-rise planned atop a Whole Foods store near the downtown Minneapolis riverfront."
"Rick Collins, vice president of development for Ryan Companies in Minneapolis, said that after some preliminary planning his company recently decided not to build a 600-unit luxury condo project at the Superior Plating site on the East Bank of the Mississippi River. He cited softening sales and a glut of high-priced units."
FULL STORY: Who's going to buy all the new condos?
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Planning for Accessibility: Proximity is More Important than Mobility
Accessibility-based planning minimizes the distance that people must travel to reach desired services and activities. Measured this way, increased density can provide more total benefits than increased speeds.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
Eviction Looms for Low-Income Tenants as Rent Debt Rises
Nonprofit housing operators across the country face almost $10 billion in rent debt.
Brightline West Breaks Ground
The high-speed rail line will link Las Vegas and the Los Angeles area.
Colorado Bans No-Fault Evictions
In most cases, landlords must provide a just cause for evicting tenants.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
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