Recent content from Jim Buchta
Single-family homes take a big jump in September construction
A big shift in the balance of construction activity is gaining speed.
Schafer Richardson to buy St. Paul apartment site for nearly $3M
SR Development LLC, an entity related to Minneapolis-based Schafer Richardson, has agreed to pay $2.96 million for a 1.31-acre site in St. Paul for its…
Home-building trails job growth, skewing market, realtors say
The Twin Cities is the 16th-most undersupplied housing market in the nation, according to new report.
New apartment project along Midtown Greenway clears last approval
The 111-unit building will include a new path to the south Minneapolis corridor.
Business is coming back for Minnesota's fractional real estate industry
Fractional ownership is a concept that's akin to a timeshare, but often comes with deeded ownership.
Little sign of seasonal slowdown in Twin Cities home sales
Sellers continue to be in control, at least for entry-level homes, as a tight inventory helps keep prices high.
Prospect Park gets its biggest commercial development yet, an apartment-retail complex
The 13-story retail, apartment tower near the Green Line will have a Fresh Thyme grocery.
Opus Development to turn old Ritz Hotel ground into new apartment building
Another gap along the Nicollet Mall is about to get filled. On Friday, Opus Development closed a deal to redevelop the block at 4th Street…
Despite rental building boom, it's still a landlord's market
New construction continues across the metro, but the vacancy rate remains persistently low. The good news? Rent prices aren't rising as fast as in other metros.
Real estate notebook: Update on several projects in the Twin Cities
Here’s an update on several developments in the Twin Cities real estate business in recent weeks: Sm+RT Homes opens first model home in bid to…
Minneapolis Airbnb hosts doubled in last year but still catching up
More people in the Twin Cities are opening their homes to overnight guests — but it's still a relatively shy place. Airbnb said that 600 people in Minneapolis hosted 33,400 guests in the past year, more than twice the previous year.
Twin Cities builders turn attention from apartments to new homes
Apartments have led metro construction recovery, but permits for new houses in August topped them.
Luxury apartments planned on former Best Buy site in Edina
The project is the latest residential complex near Southdale Center.
First-ring suburbs driving big gains in home real estate
By several measures, suburbs like Falcon Heights, Richfield and Edina are leading the region's residential real estate market.
Sunday conversation with John Smaby of Edina Realty and National Association of Realtors
John Smaby, a longtime sales manager for Twin Cities-based Edina Realty, was recently elected to the top post at the National Association of Realtors. In…
Twin Cities home sales fell in July as shortage of properties catches up to market
Fewer listings limited opportunities but boosted prices and speed of sales.
Minnesota tied with four other states for nation's lowest foreclosure rate
Minnesota homeowners appear to be in much better financial shape than the average homeowner around the rest of the country. The foreclosure rate in the…
Fourth half-built apartment building is also being revamped
The same two Minnesota-Illinois businesses are at the heart of each case and are declining to comment.
Lumber removal begins at three half-built apartment projects
Builders are starting to point fingers in court, too.
Condo sale record in Mpls. highlights action for luxury properties
A condo in the Mill District sold for more than $1,400 per square foot
Condo sale record in Minneapolis highlights the action for luxury properties
A condo in the Mill District sold for more than $1,400 per square foot
There's a free building in Minneapolis, with a catch
The building sits square in the middle of where Alatus, a Twin Cities-based developer, wants to build a 40-story condo tower at 200 Central Av. SE. Though it was once the St. Anthony Commercial Club, the 1929 building is better known for housing a Washburn-McReavy funeral home.
Twin Cities housing market isn't booming for pricier homes
Those from $350,000 and higher attract a smaller pool of buyers, stay on the market longer and gain value at a slower rate.
New home construction permits rose slightly in Twin Cities this month
Units built, permits issued in the Twin Cities were up in July, showing gains "at a slow pace."
Golden Valley apartment contractor fired over inferior lumber
The developer of one of four Twin Cities apartment buildings suspected of being built with lumber that doesn't meet state building codes has fired its general contractor.
Builder to replace substandard lumber in Twin Cities apartments
Union prevails in dispute over extensive use of framing wood suspected of being below code.
Twin Cities home prices reach all-time high, a decade after they last did
Twin Cities home prices reached an all-time high last month, precisely a decade after they last peaked. The median price of all closings was $242,000…
Whiteboard: Home ownership nonprofit markets finance app
Nonprofit Homeownership Preservation Foundation created BluePrint to help users manage personal savings and debts
Between the airport and MOA, a new phase of development kicks off
Plans are underway for the third phase of a massive redevelopment effort in Bloomington not far from the Mall of America and Minneapolis-St. Paul International…
Sm+RT works on first factory-built house in Minneapolis
In May, Thor Construction CEO Ravi Norman and two colleagues announced a plan to help fill a gaping hole in the Twin Cities housing market.…
Conversions are cornerstone of St. Paul construction boom
Stately old downtown office buildings are getting new residential roles
Developer plans to build 600-700 apartments in St. Anthony Park
Developer buys 13.3-acre industrial site for project with 600 to 700 apartments.
New home construction accelerated sharply in June in Twin Cities
Residential construction permits rise, with nearly all for single-family houses.
To get an edge on a home deal, buyers write personal letters
Jason Stockwell, a real estate agent, said a well-crafted letter can be so powerful that some sellers take a lower offer. "Some sellers cry," Stockwell said.
HomeServices buys Colorado brokerage with luxury focus
Twin Cities-based HomeServices buys Colorado brokerage.
$18.3M Eagan apartment sale adds to signs of record pace
An entity related to Manhattan-based Abacus Capital paid $18.3 million in cash for the 188-unit Colonial Village complex on Silver Bell Road in Eagan.
Twin Cities house prices near all-time high as May sales climbed
Last month was the second-highest median price in the Twin Cities.
Frank Lloyd Wright house in St. Louis Park on the market for first time ever
Home designed by master architect has been with original owners for nearly 60 years
A turn nears in the building frenzy of Twin Cities apartments
Developers are about to tap the brakes on new construction after delivering a near-record number of new rentals this year.
40-story condo tower for St. Anthony Falls area gets zoning panel OK
Plan will go to Mpls. City Council after panel overturns heritage group.
New apartment complex in St. Anthony Park features 'micro' units
Planned St. Anthony Park building would feature small, lower-rent spaces.
Most Twin Cities home sellers getting more money than they ask for
An unbalanced market in which house hunters outnumber listings is forcing buyers to bid aggressively, or lose out.
What does the future hold for downtown living in Minneapolis?
With a condo tower nearing completion and two in the final planning stages, what comes next downtown in a city where commercial construction topped $1 billion for four straight years?
Homebuilding busts out in Twin Cities in May
It was the strongest May in the metro in years, and, in a shift, houses outnumbered apartments.
Lake home sales on upswing, with deals to be had as prices are soft
Shifting demographics and postrecession caution have kept the lakeshore market far more balanced between buyers and sellers.
New company building modular homes on vacant lots in north Mpls.
Twin Cities start-up seeks to fill hundreds of vacant lots in north Minneapolis — remnants of the city's predatory lending and foreclosure crisis — with the factory-built homes.
Stanton's latest downtown condo project clears hurdle
Coon Rapids developer Jim Stanton received approval this week from the Minneapolis Planning Commission for his biggest downtown condo project yet: the Legacy, a 374-unit…
Ian Peterson hopes for welcome market as Weekley expands to Twin Cities
When Texas-based homebuilder David Weekley decided to expand to the Twin Cities, it tapped industry veteran Ian Peterson.
HomeServices converts another franchisee
For the second time in a week, Twin Cities-based HomeServices of America Inc., a Berkshire Hathaway affiliate and parent company of Edina Realty, bought one…
Strong home sales market grew even tighter in Twin Cities during April
At same time, metro inventory shrinks, putting pressure on both sides of the deal.
Mortgage rates keep falling, inviting more buyers to a crowded market
The latest drop followed disappointing economic data
Downtown Minneapolis promoters expand apartment tour
Boosters are expanding their efforts to promote living in downtown Minneapolis. Explore Downtown Living is becoming a twice-a-year apartment tour, an urban version of the…
HomeServices adds Oregon brokerage to its portfolio
Twin Cities-based HomeServices of America Inc. is expanding in the Pacific Northwest with the purchase of one of its franchisees, one that already has…
Obituary: Bill Morrissey, hotelier and St. Paul promoter
From the beginning, Bill Morrissey was destined to work in the hospitality industry. He was born in Minneapolis and raised in Bloomington, where his first…
Preservation Commission says no to proposed 40-story Mpls. condo tower
At a standing-room-only meeting, the Minneapolis Heritage Preservation Commission on Tuesday voted in favor of allowing a developer to demolish two buildings but denied a…
In Twin Cities, as demand rises, so do entry-level homes
As first-time buyers in the Twin Cities slug it out over a paltry number of listings, homebuilders are scrambling to help satisfy that demand.
Twin Cities new-home permits jump in April
Homebuilders in the Twin Cities heartened by "steady growth" in 2016.
Cray becomes first tenant at Mall of America office tower
The supercomputing company is leaving downtown St. Paul.
In Edina, Opus plans apartments on site of former UnitedHealth building
One of the largest developers in the Twin Cities has floated a plan to develop apartments in a suburban office park. Opus Development Co. wants…
Schafer Richardson heads to St. Paul, plans apartments near Xcel Energy Center
Apartment venture would be the Mpls. firm's first in capital.
Even in a hot real estate market, home sellers need to spruce up
Do the harvest gold appliances just have to go? What about the country oak cabinets? Time to gut the entire kitchen?With the start of the…
Executive changes at Steven Scott, MSR Design and HomeServices
Barbara Halverson is retiring after 44 years with Steven Scott Management, Inc., most recently as chief executive and president of the St. Louis Park-based rental…
Big projects usher in new era for old area of Mpls., with worries
Major developments will bring hundreds of new apartments to a historic neighborhood just across the river from downtown Minneapolis. But some worry that they will alter the area's character and create the same hassles that are found downtown.
Twin Cities deals continue to rise as home inventory tightens
There was no shortage of home buyers in the Twin Cities last month, but sellers were scarce. Median prices also rose as sellers continue to have an advantage over buyers.
Minneapolis panel gives initial approval to Elliot Park apartment project
A Minneapolis apartment development — the first in the city for a high-profile national developer — got the thumbs up from the Minneapolis Planning Commission…
Minnesota's foreclosure rate is now one of the nation's lowest
It's another sign of the state's strong housing market.
Minneapolis 40-story condo tower proposal is delayed by petition
A proposal to build a 40-story condo tower across the river from downtown Minneapolis was scheduled to be reviewed by the Minneapolis Heritage Preservation Commission…
Shift accelerates from apartments to houses in Twin Cities construction
As apartment construction in the Twin Cities calms, house construction is gaining steam, the latest report from the Builders Association of the Twin Cities shows.…
Just Listed: Dominium begins building senior apartments in Prior Lake
Dominium begins construction of Prior Lake senior apartment complex Construction started this week on a low-income senior housing complex that will replace a strip mall…
Apartment tower planned for the U aims for the professionals, too
Developer says he's aiming to "appeal to everyone."
Development project is a test of housing strength in N. Mpls.
Bob Lux is confident buyers will pay $299,000 for a new, four-bedroom house with a creek view, granite counters and an open floor plan in north Minneapolis.
HomeServices of America hires web veteran Alon Chaver as chief information officer
HomeServices of America said Thursday it hired Alon Chaver, a former vice president at Trulia, as chief information officer, a new position at the firm.…
Excelsior & Grand apartment and retail sell for record $97.5 million
The deal represents the highest price paid for a Twin Cities suburban housing project.
Home sales rose 6.7 percent in Twin Cities last month
The kickoff to the spring housing market in the Twin Cities was unseasonably strong — especially for sellers. Inventory is very tight, but agents expect more sellers to emerge this month.
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