Bloomington - General Topics

[maxbaby]

Why?
http://www.bizjournals.com/twincities/b ... enter.html

[acs]

I've never really understood the appeal of these suburban apartment complexes. All of the drawbacks of both urban and suburban living with none of the perks of being suburban.

[Daboink]

I've never really understood the appeal of these suburban apartment complexes. All of the drawbacks of both urban and suburban living with none of the perks of being suburban.

The perk was and for the most part still is that an apartment in the suburbs is usually bigger and costs less. There still tons of people who are priced out of ownership of either the urban condo or suburban SFH variety... and there are many out there who'd be lost if they had to do their own home repairs. The Penn American development in Bloomington is an example of the cost argument falling flat as it is pretty spendy, but it has transit access, shopping, and parks nearby. With improving transit access and easing the distance to groceries and other necessities, many of these developments look attractive.

[Wedgeguy]

Why?
http://www.bizjournals.com/twincities/b ... enter.html

Old John must have needed to get some of his cash off the books, invest it, as it were or pay the taxes on it. I see them buying this as a producer of cash flow, but not for building another store. They have invested in a new Richfield store, there is another new double decker out in EP that is not that many miles away really. They have their new Golden Valley store so the immediate area really does not need another Menards cutting into their other stores sales. Still waiting for the Brooklyn Park and Central stores to get rebuilt up to the new standards that the new stores have set.

So this is an investment that can cash flow itself and probably produce a nice profit for awhile. Down the road John can sell and make a few more million due to appreciation, to add to his pile of money that he already has.

[Mdcastle]

Menards does real estate development to the extent that other chains don't, so it's not as much of a stretch as say Home Depot buying it.

As for suburban apartments, since apartments have their own set of advantages and disadvantages, it seems to follow that there'd be a market for at least some of them in a suburban location. Maybe a person works in the suburbs and doesn't like / is afraid of the city. Maybe they want to drive everywhere rather than walk. Maybe you get more space or more amenities at a given price point than in the city.

[gpete]

Another apartment building for Normandale Lakes, from a Nebraska developer new to MN: http://www.bizjournals.com/twincities/b ... ml?ana=twt

300 parking spot underground and near a lake. What could go wrong with that scenario?? Hope that the garages deepest section is above the lakes water line and ground water table.

The most fascinating thing is that this new apartment building will built right next to a massive, 8-story, 1,200 space parking ramp that was built to accommodate Norman Pointe II, and the never-built Norman Pointe III.

Norman Pointe II is almost fully leased, and only about half of the parking spaces in the ramp are used on a daily basis.

Maybe it would be complicated to work out an arrangement between the apartment building and Norman Pointe II, and maybe these high-end renters only want heated parking spaces, but my god, that's an expensive parking ramp to not fully utilize.

[HiawathaGuy]

United Properties plans 15-story tower at busy intersection in Bloomington
http://www.startribune.com/united-prope ... 341106091/

Looking for a tenant before breaking ground.

[seanrichardryan]

Iconic

[phop]

Looks like a filing cabinet.

[intercomnut]

Maybe this'll help that intersection jump to number 1!

[Anondson]

Article with slideshow. Including site plan.

http://www.bizjournals.com/twincities/b ... 1446817477

[Mdcastle]

Vertical Endeavors proposed for 9601 James, and a new Bauer Hockey store with an ice rink opening next to REI.

[twincitizen]

Link: http://www.bizjournals.com/twincities/n ... o-new.html
http://www.startribune.com/in-giant-new ... 347328941/

Looks like it's a conversion of the existing Hockey Giant store there, not a new build

[HiawathaGuy]

I have to wonder who would buy this? Could there be a corporation wanting this much space?

For sale: 60-acre Kelley Farm near Mall of America
http://www.bizjournals.com/twincities/b ... erica.html

"We have enough corporate users in the Twin Cities that having a two or three million square foot development just for them might be of interest," Baker said.

[MNdible]

Didn't we just see an article, referencing the State Farm Woodbury site, explaining that giant corporate campuses (campi?) are dinosaurs?

[Wedgeguy]

The big question is where it sits in the Restricted airport space and what height restriction that would also have on the area.

[Anondson]

The runway to the north forbids residential, and heights are limited to 10–12 stories.

[min-chi-cbus]

I vote for an entertainment use, like another water park hotel, or something like it.

[HiawathaGuy]

Another story.

Last working farm in Bloomington is for sale, likely to be developed commercially
http://www.startribune.com/last-working ... 350762081/

[Mdcastle]

Ever since the Mall of America was announced I've been hoping we could get an indoor waterpark to top the one in Edmonton.