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 Kristen Leigh Painter.

More apartments headed for the North Loop neighborhood in Mpls.

Posted by: Jim Buchta under Buying Updated: July 25, 2011 - 3:51 PM

The Minneapolis North Loop neighborhood (aka Warehouse District) continues to attract housing developers trying to hop on the rental bandwagon. With rent prices rising, vacancy rates falling and developers still on the sidelines of the condo market, there are proposals to build several hundred apartments in neighborhoods along the Mississippi River. The latest is from TE Miller Development, which has proposed building 100 new rental apartments at the corner of 2nd St. and Washington Avenue North.
A site plan review from the Community Planning and Economic Development Department calls for a six-story building that will replace an industrial building near the Tower Lofts, a warehouse building that was converted into 143 condos and first-floor retail space several years ago. Rob Miller of Edina-based TE Miller Development said that he wasn’t able to comment about the project.
The city’s planning division recommended that adopting a request for a conditional use permit amendment, but the issue wasn’t voted on at the July 18 meeting.
I wrote a story recently about the “baby boom” in downtown Minneapolis, which is being driven in part by a riverfront housing boom over the past decade. A couple readers made a good point about the story: More families would live downtown if it were more affordable. Let’s hope that developers step up to the plate with housing that’s affordable to families and that have floor plans and amenities that are family friendly.
 

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