urbanMSP

Seven Points redevelopment is back from the dead. Scaled down, but better than nothing. https://www.bizjournals.com/twincities/ ... polis.html

Am I the odd one out for only just hearing the phrase "office condo" for the first time, or is this an unusual way to structure the ownership of office space?


I don't think it's very common. The only recent example I'm aware of is the building that's under construction at Nicollet and 31st ...

This was one of the developments that was written about being affected by the 2040 pause. Glad to see that's behind us now.


positive that it still was able to get financed even in this environment! Although, I suppose it's much easier to get funding for a project of this scale than the big 5 ...

Been a hot streak for downtown Minneapolis news lately. Paywalled article from MSPBJ about how Hempel will be opening a food hall on the ground floor of the Lasalle Building, occupying the space that used to be filled by the Rock Bottom Brewery.

https://www.bizjournals.com/twincities/news/2025/03 ...

You know, actually—how are downtowns doing in other countries? Hard to compare downtown Minneapolis to a nice Western European city center for 1,000,000 reasons but what about Calgary or whatever? Are Perth and Riyadh back to their regular Monday lunch rush? Can you get a skyscraper for 97% off ...

This morning I read Bloomberg article speaking to the bifurcation in quality of space. Apparently in NYC buildings either built or renovated since 2010 are seeing rental absorption above pre-pandemic rates while lower quality buildings sit empty. There is a plausible viewpoint that rental rates ...

Don't know if this is new news but Metro Transit plans on identifying 3 new corridors for BRT in 2025. Fingers crossed the 18/nicollet ave makes the list first.

Also 2025 openings

Gold line - Saturday, March 22

B Line - Saturday, June 14

E Line - Saturday, December 6


That would make my year ...

I'm guessing a few more of the big, 1970s-1990s era office towers are going to change hands in the next few years, with similar reductions in value from their pre-pandemic purchase price. I would wager exactly 0% of them will be converted to residential. The best hope would be a new owner of City ...

It's likely my own broken brain that is making me type this out on the computer, but the HERC situation came to mind for me as a good, relatively low-stakes example of the governance problems common across the blue states. It's an issue where everyone involved knows what they're doing is stupid ...

There's no world where they can convert these buildings back into Class A office product, right? It would be disappointing if newer, better proposed offices weren't able to sign tenants because something like this lured them away.

But as it stands, offering much lower lease rates to the sorts of ...

Seems like a sign that developers, anticipating interest rates will come down, may start dusting off some of the building boom-era plans that never got built.

This project was a little post-boom, but nonetheless I think this bodes well. Some of these shelved projects will die, but I bet a good ...

with the property tax increases we will be seeing the next couple years, I doubt even a more moderate city council is going to want to support giving a subsidy to a new stadium anytime soon. It would be received more poorly among the broader electorate than the "lefty" stuff that some of the council ...

1. This couldn't have been brought up at any point in last decade?
2. This is like a $3 billion dollar project and the MPB is worried about a pair a bridges that just rebuild for $15.5 million, I mean they aren't serious right?
3. Could the MPB legally prevent construction of the line or is this ...

Here are the plans:

https://lims.minneapolismn.gov/download/Agenda/6147/4676/3246NicolletAveStaffReport.pdf

The three bedroom units in a senior apartment building is an interesting approach.


At a Lyndale neighborhood association meeting, the developer explained that they wanted to build a ...

Probably suited for the other thread but wonder how crowded the trail will be since Kenilworth closed years before e scooters and e bikes took off and I think it will still be one of the most popular ways to get from downtown to uptown for awhile (what's the ETA for the bike lanes all the way down ...

Weidner is buying all phases of the Elan Apartments from Greystar. Paying $111 million for 590 units, they're getting a massive bargain.


If you are a homeowner it's time to start bracing for big property tax hikes...


Maybe. I got my truth in taxation document for 2024. No change in my ...

I feel the plowing has gotten worse, possibly we’re not ticketing and towing as consistently. Outside of my office I watched the road narrow over the winter as plows had to work around cars that didn’t move for snow emergencies. Maybe declare more snow emergencies and then clear the streets so ...

Wonder how much it would cost to custom order trucks that hold a sub-optimal amount of water?

Presumably paywalled article that just came out: Fire trucks can't get through and there's a lot of other issues Bryant Ave, so they're changing the design going forward.

https://www.startribune.com ...

Road will be rebuilt in 2025
Projects will break ground no sooner then 2027.
Unreal
https://www.startribune.com/why-new-development-on-minneapolis-kmart-site-is-at-least-four-years-away/600253811/


But hey, some consultant will be paid at least $500k to conduct lengthy engagement that will ...