Bankers, developers bet on apartments in Twin Cities
The apartment sector is the sole commercial development market that has shown signs of life this year, making it a target for banks eager for loan opportunities.
View ArticleProgress at the Penfield? HUD seems supportive of St. Paul project
St. Paul officials say that behind the scenes, the Penfield apartment plan downtown is gaining traction. Five local construction companies met the city’s deadline to respond for “pre-qualification” for...
View ArticleFailed North Loop condo site up for sale
After years of mystery, a would-be Minneapolis condo development site where construction stopped in 2003 has hit the market for sale.
View ArticleCritics question $62 million Penfield project
As St. Paul city officials prepare to vote this week on a proposed financing plan for the controversial Penfield apartment project, the budget has now climbed to $62 million and depends heavily on TIF,...
View ArticleAt last: Lofts at Farmers Market opens
After a decade of fits and starts and discontent among developers, construction on the Lofts at Farmers Market project in St. Paul’s Lowertown is finished and more than half its units are leased.
View ArticlePenfield scores a sweet mortgage rate
Although critics have questioned the market fundamentals for the Penfield housing and retail project, the city of St. Paul this week landed a rock bottom interest rate on a nearly $41 million loan to...
View ArticlePressure is on Penfield apartments
The city of St. Paul’s second foray into market-rate apartment development is about five weeks from opening, but leasing is underwhelming so far.
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