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Proposed Luxury Apartment Complex In Minneapolis Files Bankruptcy

November 30, 2009 By Leave a Comment

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)

Filed Under: Minneapolis Real Estate News Tagged With: , ,

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

November 14, 2009 By Leave a Comment

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

Filed Under: Real Estate Video Tagged With:

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

November 7, 2009 By Leave a Comment

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 at my primary blog.

Here is a basic break down comparing the old tax credit vs the new tax credit.

housingtaxcreditextensioncomparison

If you have any questions, just ask away.

Filed Under: Buying Tagged With: , , ,