Proposed Luxury Apartment Complex In Minneapolis Files Bankruptcy

by Jason Sandquist on November 30, 2009

From Sam Black @ Twin Cities Biz Journal:

River View Holdings LLC, a Minneapolis-based entity run by Steve Frenz, filed for bankruptcy in U.S. District Court Nov. 13.

Frenz, who is also CEO of Minneapolis-based firm JAS Apartments, announced in 2008 that he planned to develop a 348-unit luxury apartment complex on the site.

According to bankruptcy documents, River View counts its only assets as three parcels that total 2.06 acres. It estimates that the parcels — 110 12th Ave. S., 124 12th Ave. S. and 1102 Second St. S. — are worth a combined $2.95 million. River View lists liabilities of $6.82 million.

(h/t Steve Ladin)

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Sorry Minneapolis Condo Investors: Tax Credit For Owner Occupied Units Only

by Jason Sandquist on November 14, 2009

For Minneapolis condo investors, just like the old housing tax credit the unit must be owner occupied.

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Minneapolis Condo Buyers Get A Second Life With Home Buyer Tax Credit Extension

November 7, 2009

In case you haven’t heard, the $8000 housing tax credit has been extended until April 30th 2010 (must be under contract by that date) and has also been expanded to include move-up buyers for $6500 giving Minneapolis condo buyers a little more time.
I wrote about the $8000 housing tax credit extension here more extensively over [...]

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Here Comes Mill City Apartments

October 29, 2009

Mill City Apartments is a go in the historic Mill District.
From the Twin Cities Biz Journal – Sam Black
Farmington Hills, Mich.-based Village Green is developing the 175-unit apartment building called the Mill District City Apartments. The complex is located near the Guthrie Theater along Second Avenue South, between Portland and Park avenues.
Hopefully the developer makes [...]

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Minneapolis Condos That Went Pending For The Week Starting October 19th

October 27, 2009

Here are the numbers for condos and lofts that went pending in Minneapolis this past week:

20 condos/lofts went pending
Average pending sales price $146,849 (lowest yet)
Median pending sales price $153,798
Days on market 81
Average price per square foot $143

Takeaways
The lower segment of the market is definitely moving it, meaning what’s going to happen when no more tax [...]

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Midtown Lofts

October 26, 2009

2845 Colfax Ave | Minneapolis MN 55408
Midtown lofts is an award winning urban living development located in the Lyn-Lake area of Uptown in Minneapolis.
Built in 2005, Midtown Lofts consist of 72 units over 4 levels priced in the mid $100’s to over $400k. Floor plans range in size from 1000 finished square feet to just [...]

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Minneapolis Condos That Went Pending For The Week Starting October 12th

October 20, 2009

Here are the numbers for pending condos in Minneapolis from October 12th:

20 condos/lofts went pending (the biggest yet since I began keeping track)
Average pending sales price $182,338
Median pending sales price $182,900
Days on market 73
Average price per square foot $183.01

The week was better than most as far as pending sales, still the lower end that is [...]

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The Carlyle

October 20, 2009

100 3rd Avenue South | Minneapolis, MN 55401
With 39 floors and 255 units, the Carlyle luxury condos is one of the largest condo developments in Minneapolis that features unsurpassed amenities. Now you can find the luxury lifestyle of New York, San Francisco or Chicago… right here in Minneapolis. Elegant residences feature unique floor plans and [...]

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Loop Calhoun

October 18, 2009

3104 West Lake Street | Minneapolis MN 55416
Loop Calhoun consists of an urban contemporary architecture designed building located on the northwest side of Lake Calhoun on Lake Street in Uptown. The condo development has great views of Lake Calhoun and features 122 condo units.
The condo development features a variety of different floor plans ranging in [...]

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Minneapolis Ground Rounds One Of Ten Great Public Spaces

October 18, 2009

The Minneapolis Grand Rounds is on the list of ten great American Public Places by the American Planning Association. It is the only national urban scenic byway with over 6400 acres of trails, lakes, parks and recreation.
See the article here.

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