Eleven - 1111 West River Parkway - 41 stories / 550'

[amiller92]

Perhaps, but we've built so few condos that it's hard to see many of them available as investment assets. And even if some are, I don't think Eleven is really displacing opportunities for other housing, so again, don't really care if they're units sit empty anyway.

[QuietBlue]

Is there anyway to confirm that people are buying these units to live in as opposed to money storage. While I don’t think this is necessarily that case, it’s still a concern in the back of my mind.

Personally, I'm curious about how many are truly, 100% sold, as opposed to someone putting a deposit down or something. I'm skeptical of taking what their sales department says at face value, for obvious reasons.

[SurlyLHT]

Is there anyway to confirm that people are buying these units to live in as opposed to money storage. While I don’t think this is necessarily that case, it’s still a concern in the back of my mind.

Personally, I'm curious about how many are truly, 100% sold, as opposed to someone putting a deposit down or something. I'm skeptical of taking what their sales department says at face value, for obvious reasons.

I agree, think about how much the StarTribune story highlighting how these are supposedly selling fast is worth

[mnmike]

Well they can't be "100% sold" before they are built. It is probably deposits...I am not even sure if they can have complete purchase agreements before the units are built. I am a Realtor, but I have never done new construction condos. I just know they can't be sold before they exist:)

[seanrichardryan]

Not unless you're Jim Bakker.

[bapster2006]

It's a constant fight to find new angles

Eleven condo tower construction from 750 feet Minneapolis 2-15-20 by Matt Bappe, on Flickr

[go4guy]

Typically you put down a pretty good deposit, and I am pretty sure you do sign a purchase contract. I did all the lending for Wells Fargo on the West Coast in 08-10, and Vegas was in my territory. There were a few large condos built starting before the recession hit. By the time the project was done and it was time to close, purchase contracts for $850,000 had to be torn up because the units had dropped to about $450k in value. Developer could either take the deposit and re-list the unit, or renegotiate down to $450k. Developer always took the bath on the unit just to sell it to the original purchaser.

What I am trying to say is, nothing is guaranteed with these deposits. However, unless something happens in the market, most of these should close!

[amiller92]

It would be a question of state law though, and Nevada and Minnesota could well be different (I do not know the answer for either state).

[eastharrietguy]

Here's hoping that the current downturn in the stock market does not last or many of those deposits/PAs will go away.

[ZM7]

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[UrbWave]

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I really appreciate the view! They seemed to have discontinued photo updates on their website.

[UrbWave]

Eleven On the River 4/18/20 by Urb Wave, on Flickr

Eleven On the River from Stone Arch Bridge 4/18/20 by Urb Wave, on Flickr

[CalMcKenney]

Wow this feels like it's going up so fast.

[Oreos&Milk]

Wow those other two short and "plump" buildings look really nice. Granted it looks more like Bloomington than downtown, but still very beautiful place. Can't wait to see what it all looks like from this spot when they are all done. At this rate that be what? Thursday eh?

[ZM7]

The Eleven _27_June_20.jpeg

Latest Picture

[Minneboy]

Interesting you can see the rainbow lights reflected in the river from the bridge and then looking a bit more closely you can see the bridge is lit up for Pride as well. Barely noticeable especially considering it's not the subject of the story. Now if only Twelve and Fourteen would be announced and get started. Obviously skipping Thirteen for St. Paul.

[rhettcarlson]

Yesterday from the parkway.

[UrbWave]

They finished the first setback so looks like it's going up a bit faster.

Eleven On The River - Floor 16 (8/20/20) by Urb Wave, on Flickr

[Didier]

I believe it’s up to 14 floors now, seven on the podium and seven on the tower, if I counted right while running by the other day.

[UrbWave]

I believe it’s up to 14 floors now, seven on the podium and seven on the tower, if I counted right while running by the other day.

They just began work on the 16th floor. The podium is 8 floors.

It's on page 70 of the packet:
http://www2.minneapolismn.gov/www/group ... 214641.pdf