May 8, 2023 - Development

Downtown Minneapolis office building targeted for residential conversion

Nick Halter

An old office building — The McKnight Building, pictured here at 200 S. Fifth St. Photo via city of Minneapolis

Downtown Minneapolis' McKnight Building, pictured here at 200 S. Fifth St., could be the next office-to-residential conversion in the city.

What's happening: The owner, CenturyLink, wrote in a letter to the city that it's got interest from developers who want to build apartments.

The company wants to separate the building's ownership from the larger tower in the background so it can sell it to a developer.

Why it matters: There's roughly 8 million square feet of vacant office space in downtown Minneapolis, according to a recent report by commercial real estate firm JLL.

Meanwhile, there's continued demand for housing. This 15-story, 122-year-old building could house hundreds of people.

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Downtown Minneapolis office building targeted for residential conversion

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