Staff Directory 10644536

Jim Buchta

Reporter | Residential real estate
phone: 612-673-7376
Jim Buchta is the Star Tribune's residential real estate reporter, covering the Twin Cities housing market and its trends. He also contributes to the Star Tribune's Travel section.
Recent content from Jim Buchta

Uptown apartment complex to get Aldi

Uptown neighborhood apartment complex to get Aldi, not Trader Joe’s A much-coveted site in south Minneapolis will get 77 apartments atop a 20,000-square-foot Aldi store…
Freddie Mac steps in to help nonprofit investors preserve affordable housing

Freddie Mac steps in to help nonprofit investors preserve affordable housing

As the Twin Cities market struggles, Freddie Mac is helping CommonBond.
Prince properties in Chanhassen are hitting the market and going fast

Prince properties in Chanhassen are hitting the market and going fast

Several of late star's properties now for sale are drawing fast interest.
Homebuilding permits remain strong in Twin Cities in November

Homebuilding permits remain strong in Twin Cities in November

Permits for overall construction rose 15 percent, and those for single-family homes jumped 20 percent.

Bergerud plans apartment and retail project in North Loop

Neighborhood advocates say the North Loop needs convenience retail and other services.
Apartments for men coming out of prison planned for North Loop

Apartments for men coming out of prison planned for North Loop

Beacon Interfaith Housing Collaborative recently received funding to build a $14.1 million rental apartment building to be home to 72.
Mpls. park board seeks developer for land along the Mississippi

Mpls. park board seeks developer for land along the Mississippi

Wanted: A developer willing to help close a key gap along the Mississippi Riverfront.That firm must be willing to work with the Minneapolis Park and…
Twin Cities real estate pinchpoint: Few low-priced homes being built

Twin Cities real estate pinchpoint: Few low-priced homes being built

Lack of houses at less than $250K pinch first-time buyers and downsizers.

Just Listed: Hillcrest sells renovated food-production plant in St. Louis Park

Two years after paying $3.5 million for a former Nestlé Ovaltine factory in St. Louis Park, Twin Cities-based Hillcrest Development sold the bulk of the…
Twin Cities home sales rose again in October, and supply tightened even further

Twin Cities home sales rose again in October, and supply tightened even further

Agents say dwindling inventory and rising rates are continuing concerns.
Global investors are snapping up cheap homes in Twin Cities

Global investors are snapping up cheap homes in Twin Cities

Buyers from across the globe are gobbling up small houses in the Twin Cities, which has helped drive the supply of affordable house listings to the lowest level in a generation
Apartment demand, rents stay strong in Twin Cities

Apartment demand, rents stay strong in Twin Cities

Demand for rental apartments in the Twin Cities metro continues to defy expectations. Across the 13-county metro, the average vacancy rate declined to 2.5 percent…
Developer proposes 'urban' apartments in Minnetonka

Developer proposes 'urban' apartments in Minnetonka

LeCesse Development Corporation told the Minnetonka City Council on Thursday night that it wants to build a 322-unit apartment complex that would replace a pair…
Doran Cos. hires Stenman, leader in U.S. Bank Stadium project, as chief executive

Doran Cos. hires Stenman, leader in U.S. Bank Stadium project, as chief executive

He helped build U.S. Bank Stadium and will succeed the company founder.
New homes are rising faster in the Twin Cities than usual, defying the seasonal slowdown

New homes are rising faster in the Twin Cities than usual, defying the seasonal slowdown

Construction firms are enjoying a busy year for apartments and single-family homes.
Obituary: Alan Anderson, longtime owner of Anderson's China

Obituary: Alan Anderson, longtime owner of Anderson's China

Alan Anderson lived in a world of elegance and sparkles but always tried to stay grounded and dwell in simplicity. Anderson ran three Anderson’s…
New businesses emerge to make beautiful photos to help sell homes

New businesses emerge to make beautiful photos to help sell homes

In the age of social media and online shopping, photos are the main way to attract home buyers.

Another deal in Prospect Park holds promise of more apartments near U

A fallow building site on the edge of the University of Minnesota has a new owner. Richfield-based Cornerstone Group sold a 2.4-acre site at 2901…
Seasonal slowdown begins in Twin Cities real estate, but September home sales beat last year

Seasonal slowdown begins in Twin Cities real estate, but September home sales beat last year

The year's peak has been passed but sales activity continues to be stronger than 2015
Luxury apartment project is turning point for Elliot Park in downtown Minneapolis

Luxury apartment project is turning point for Elliot Park in downtown Minneapolis

Construction started this week on a 17-story apartment building by Kraus-Anderson in a slice of downtown long dominated by asphalt parking lots and low-income rentals.

Real estate notebook: Apartment market frenzy raises need for low-income alternatives

The Minnesota Housing Partnership, a nonprofit focused on affordable housing, recently released a report showing that there was a 165 percent increase in sales of…
Mpls. developer plans 16-story apartment tower in Dinkytown

Mpls. developer plans 16-story apartment tower in Dinkytown

The proposal comes at a particularly sensitive time for the Marcy-Holmes neighborhood, which until recently has managed to avoid much of the high-density, high-rise development that's happening elsewhere in the city.
Developers eye more parking for new North Loop office tower

Developers eye more parking for new North Loop office tower

A 10-story building could have half of its above-ground space for cars.
Single-family homes take a big jump in September construction

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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 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

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

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

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

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 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

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

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

$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

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

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

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

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

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

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?

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

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

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.

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

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

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

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

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…
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