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Continued: As Twin Cities rentals go up, average monthly rents break $1,000 mark

  • Article by: JIM BUCHTA , Star Tribune
  • Last update: May 16, 2014 - 9:01 PM

“We had a long, hard winter, which affected lease-up at several buildings,” Bujold said. “In general, it is mostly just seasonal stuff, not really any significant weakness in the market.”

Jim Buchta • 612-673-7376

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  • Average monthly rental rates have broken the $1,000 barrier in the Twin Cities metro area, and will be driven even higher as more upscale high-rises like Nic on Fifth enter the market later this year.

  • LPM Apartments, a high-rise on the edge of downtown in Loring Park, has a pop-up sales center in the IDS Crystal Court.

  • Nic on Fifth, an upscale downtown high-rise, has opened a leasing center in the skyway of the Baker Building.

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