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."
Read the full story: Who's going to buy all the new condos?
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Mass. votes against statewide minimum lot size for single-family homes
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Maryland’s $15 billion bridge project gains key approval
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‘No clear next steps’ for Chicago's permanent festival grounds
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City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
University of Michigan School for Environment and Sustainability (SEAS)
Hunter College, City University of New York (CUNY)
The Architects Foundation
City of Cambridge
Montrose County
The Pocatello Development Authority