Architecture & Design, Commercial Real Estate, Development, Real Estate Trends

Minnesota: Commercial Development Hub

A recent post by the New York Times blog, shows Minneapolis is among the leaders in urban development. One may ask, why and how does Minneapolis keep attracting people to the city? Simple, the city’s diverse population allows for vibrant restaurants and events, and municipal transportation creates accessibility to and from these destinations. Looking deeper, destinations and even housing were only possible through recent Minneapolis commercial development. You can see from almost any point in the city a construction crane or sign saying, “Opening Soon.”

Setting aside apartment and condo developments, the last 15 years has seen revitalization of major Minneapolis buildings. The old Sears building on Lake Street is now the Midtown Global Market which hosts over 1.5 million visitors a year, and the Foshay Tower is now the W-Hotel. Recently, the Minneapolis Armory, also on the national landmark registrar, looks to be renovated into a venue hosting large crowds as an event center. The Armory was recently sold for $6 million dollars to Nedal Yusuf Abul-Hajj who has submitted plans to convert the 80 year old building.

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