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.

New housing fueled a record year for Minneapolis construction projects

Posted by: Jim Buchta under Architecture, Buying Updated: January 8, 2014 - 10:38 AM
A new entry for the Pillsbury A-Mill apartments, the most expensive construction project in <a href=Minneapolis last year." />

A new entry for the Pillsbury A-Mill apartments, the most expensive construction project in Minneapolis last year.

New housing helped fuel a record year for Minneapolis construction projects last year, with the city issuing more than $1.2 billion in building permits. That was the second year in a row since 2000 that permits exceeded the $1 billion mark, and more than double the amount of construction planned just three years ago.

That boom is being driven by new rental housing, mostly in the Uptown, North Loop and University of Minnesota neighborhoods. Citywide, there were plans to build 3,552 houses, rental apartments and for-sale condominiums), an increase of 249 units from 2012 and 2,936 units from 2011.

Here are the top five construction projects by building permit valuation last year:

  1. Pillsbury A-Mill Apartment Building Complex, 315 Main St SE, with a value of more than $68 million.
  2. The Nic on 5th, a 26-Story luxury apartment tower at 465 Nicollet Mall with a value of $68 million.
  3. The UTEC apartments at 1313 5th St SE; $59 million.
  4. Stonebridge Lofts (for-sale condominiums) at 1120 2nd St S. with a value of $48 million.
  5. A six-story apartment building at 2828 Dupont Ave. S. with a value of  $36 million.

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT