Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

Previous Habitat headquarters sold

Posted by: Janet Moore Updated: April 16, 2014 - 1:03 PM

Twin Cities Habitat for Humanity has sold its former headquarters at 3001 Fourth St. SE in Minneapolis for $1.25 million, according to a certificate of real estate value filed with Hennepin County recently.

We wrote here about the organization's new digs in St. Paul. The three-story $6.9 million building at 1954 University Av. opened last February. One of the reasons the group opted to move was because its previous HQ was cramped, dark and lacked parking. All in all, it wasn't terribly user-friendly.

According to the CRV, the Fourth St. property was sold to a Minneapolis-based entity called TCC 3001 LLC.

(The rendering above is the new headquarters.)

Mortgage preforeclosure notices in Minnesota drop 41% during the first quarter

Posted by: Jim Buchta under Foreclosures Updated: April 16, 2014 - 10:40 AM

I recently wrote that with home prices on the rise and the economy on the mend, the foreclosure crisis in Minnesota was nearing its end, and today there's more evidence that fewer Minnesota homeowners are headed towards that terrible fate. The Minnesota Homeownership Center issued a new report that says the number of preforeclosure notices sent during the first quarter fell 41 percent compared with last year. Though foreclosures are still happening all too often in Minnesota and beyond, the decline in notices is important because it's an indicator of how many houses will end up being sold at sheriff's sales.

Here's a graphic look at what happened:

Ground broken for Mounds View senior community

Posted by: Janet Moore Updated: April 15, 2014 - 10:31 AM

Ground has been broken for the new $14 million Bel Rae senior living community in Mounds View.

The three-story, 105,000-square-foot senior community will provide independent and assisted living units, as well as memory-care apartments.

Located at 2330 County Hwy. 10, the complex was designed by Minneapolis-based Kaas Wilson Architects, and is being built by Nottingham Construction of Stillwater. The community is owned by Bel Rae Senior Living and will be managed by Ebenezer Management Services.

Completion date is expected by March 2015.

The Bel Rae will be the only assisted living and memory care apartments in Mounds View. It will feature state-of-the-art monitoring and reporting technology, overnight guest rooms, underground parking, a community room, and a high-end, restaurant-quality dining room that will prepare meals onsite for the residents.The senior community will also provide an activities director and a full-time nurse who is on-call 24 hours a day, and on-site visits by geriatric physicians and nurse practitioners.

“The Bel Rae exemplifies the city’s understanding of how important it is to keep seniors in their communities,” said Glen Harstad, a partner at Mounds View Properties, which is developing the project. 

Twin Cities home builders launch 'Artisan Home Tour'

Posted by: Jim Buchta under Architecture Updated: April 14, 2014 - 4:11 PM

A rendering of a house by Schrader & Companies that will be featured on the Artisan Home Tour

The Builders Association of the Twin Cities (BATC) is adding a new, ticketed home tour this summer to its stable of Parade of Homes events.

The Artisan Home Tour will feature 25 "artisan-quality homes" during its inaugural run June 7-15, 2014. Here's BATC's description of the qualifications: "All the homes on the tour are built by members of the BATC and the home plans were reviewed by an architectural review panel to ensure architectural integrity and high-quality finish level."

Tickets: Online for $25 or at the door for $30, or $5 for an individual home. Half the net proceeds of ticket sales will be donated to BATC’s charitable arm, the BATC Foundation, which builds and remodels homes for families in need.

For more info: ArtisanHomeTour.org is online now. Guidebooks will also be published and distributed by direct mail to some households and will be included with the Summer issue of Artful Living Magazine. Guidebooks may also be picked up at participating homes.

HCMC plans new clinic and specialty center

Posted by: Janet Moore Updated: April 14, 2014 - 3:03 PM

Hennepin County Medical Center said Monday it will build a new 322,00-square-foot clinic and specialty center in downtown Minneapolis to "meet the growing need for outpatient care and specialty services."

The Hennepin County Board approved spending $10 million to buy property near the main campus in Minneapolis, across from the Emergency Department on 8th St., betwen Park and Chicago Aves. The cost of the new building, land and relocation of a helipad will be about $191 million, which will be financed through the sale of bonds.

The new facility is slated to open in 2016.

Updates on Calhoun Square, Urban Organics

Posted by: Janet Moore Updated: April 14, 2014 - 2:44 PM

A couple of updates are in order.

First, two certificates of real estate value were filed in Hennepin County last week for Calhoun Square -- it sold for $69.5 million. The buyer was The Ackerberg Group of Minneapolis.

We initially wrote about the deal here. In 2007, the Uptown shopping center changed hands for the second time in three years, when BlackRock, a New York investment firm, bought it for $47.3 million.

In addition. . .Urban Organics, the St. Paul indoor aquaponics farm, is officially open for business. The ground-breaking operation is located in the historic (and previously abandoned) Hamm's Brewery building in East St. Paul. We wrote about it initially here, then my colleague Jeff Strickler followed here and here.

Aquaponics is the combined culture of fish and hydroponic vegetable crops grown in a closed-loop recirculating aquaculture system. Urban Organics is projected to produce 720,000 pounds of greens annually and 150,000 pounds of fish.

Its first crop, organic fresh greens including kale, Swiss chard, Italian parsley and cilantro, are currently on the shelves at select Lunds and Byerly's stores. The tilapia will be available mid-summer.

"Our mission is to inspire a food system for the people, by the people," said Fred Haberman, co-founder and CEO of Haberman, a local PR agency, and co-founder and partner in Urban Organics, in a statement. "We are starting with a community-rooted, self-sustaining aquaponics facility in an area in need of economic revival -- East St. Paul. But this is a test for a movement that can be scaled nationally and internationally. This level of aquaponics could change the world of farming as we know it."

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