H.J. CUMMINS
With home prices still dropping, the Twin Cities rental housing market continues to show signs of improvement.
During the first quarter of 2008, the average vacancy rate in the Twin Cities metro area declined to 3.9 percent from 4.2 percent the previous quarter and 4.4 percent from a year ago, according to a report released Thursday by GVA Marquette Advisors in Minneapolis. Stronger demand for apartments is pushing rents up. During the first quarter, the average rental price in the market rose to $908, up 3.7 percent over the past 12 months and 1 percent from the previous quarter. More detailed data can be found at www.startribune.com/homes.
JIM BUCHTA
A central Minnesota company that makes water-safety and outdoor equipment is merging with a larger company and cutting 166 jobs.
Stearns Inc. says it will close its Grey Eagle manufacturing plant and cut jobs in Sauk Rapids. The company will do business as the Coleman Co., and will transfer responsibilities to its headquarters in Wichita, Kan.
Stearns sold products under several brands, including Stearns, Sevylor, Sospenders, Hodgman and Mad Dog Gear. Employees whose jobs are being cut will be offered severance packages, the company said.
ASSOCIATED PRESS
The University of Minnesota will host the annual conference of the Association of University Research Parks in 2010. The conference will focus on ways research parks and innovation can aid the world’s economic recovery. Pretty good timing for the U. Through state-approved bonds, the school is spending $292 million to build four biomedical buidlings on its [...]
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