It’s been a banner month for residential builders in the Twin Cities thanks to a new wave of apartment construction in the Twin Cities metro area. During the first four weeks of May area home builders were issued 259 permits to build 639 units, the largest monthly permit total since May 2010, according to data gathered by the Keystone Report for the Builders Association of the Twin Cities.
So far this year builders have been issued 1,017 permits to build 1,490 units, most of them apartments. In fact, 63 percent of all planned units were for multi-family buildings, including three projects in Bloomington with a total of 234 units. In Minneapolis builders planned to build 68 units, including one 64-unit apartment building. Expect more of the same in coming months as developers pull permits to build what is expected to be a near-record number of apartment buildings this year.

 

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