Real Estate

Nick Halter
Jan 18, 2022 - Business

Plan to redevelop St. Paul's Hillcrest Golf Course takes shape

An aerial photo of the former Hillcrest golf course on St. Paul's East Side.
The former Hillcrest Golf Course on St. Paul's East Side. Image via city of St. Paul

St. Paul officials will soon take up a master plan that would turn the former Hillcrest Golf Course into an industrial area, neighborhood and city park.

Driving the news: The St. Paul Planning Commission will hear staff present the plan for the 112-acre site on Friday and then begin a public hearing process.

Why it matters: If approved, the project would bring:

  • 1,000 housing units on the north side, with the highest density at the McKnight and Larpenteur intersection.
  • 54 acres of light industrial land that would be home to 1,000 jobs.
  • A five-acre public park.
Nick Halter
Dec 22, 2021 - Real Estate

A pair of late-year wins for downtown Minneapolis

The rendering of a downtown Minneapolis apartment tower that will be built next to U.S. Bank Stadium.
This rendering shows an apartment tower that will be built next to U.S. Bank Stadium. Image courtsey of Ryan Cos.

In a span of about two months, developers will break ground on high-rise towers on opposite ends of downtown Minneapolis.

Why it matters: News like this was commonplace during downtown's boom from 2014 to 2020. But Minneapolis housing development has slowed dramatically in late 2020 and early 2021 following COVID-19, civil unrest and crime concerns, as well as new city housing regulations.

  • Investors betting hundreds of millions of dollars that people still want to live, work and play downtown is a great sign for the city.
  • "None of it has knocked us on our back," said Minneapolis Downtown Council president Steve Cramer.
Nick Halter
Dec 13, 2021 - Real Estate

A new look at the redevelopment of Wells Fargo at Lake Street

A rendering of a new Wells Fargo branch and affordable housing in Minneapolis.
Image courtesy of Project for Pride in Living, created by Design by Melo

Project for Pride in Living released images and details for how it plans to redevelop the Lake Street Wells Fargo branch that was damaged in the 2020 riots.

Why it matters: As the rebuilding of Lake Street continues, this an important project near the high-trafficked Nicollet Avenue intersection.

Nick Halter
Nov 18, 2021 - News

Property taxes for Minnesota communities to increase by 4.5% in 2022

A property tax notice from Hennepin County
Proposed property tax statements are going out across Minnesota. Photo: Nick Halter/Axios

Minnesotans are getting their proposed property tax statements this week, and most of you are probably noticing a hike in what you have to pay next year.

Driving the news: Overall 2022 preliminary property taxes statewide will increase by 4.5%, according to a report released this week by the Minnesota Department of Revenue.

  • That compares to last year, when overall taxes only went up by 2.1%.

Twin Cities' hottest areas for house hunters

Data: Zillow; Chart: Sara Wise/Axios

Zillow has gathered data to show the most popular ZIP codes in the Twin Cities metro.

  • The real estate marketplace analyzed viewership data on its listings to find the median number of views per ZIP code.

The intrigue: Top searches don't always equate to sales, but people love to look at homes in the west metro, as well as Eagan β€” and more specifically, areas with lots of homes in the $400,000-$500,000 range.

Nick Halter
Nov 1, 2021 - Politics

Rent control debate heats up in St. Paul ahead of Nov. 2 election

Construction workers and business leaders speaking against the rent control ballot question at St. Paul's Highland Bridge site.
Construction workers and business leaders spoke out against the rent control ballot question at St. Paul's Highland Bridge site. Photo: Nick HalterAxios

Friends and foes of a strict rent control ballot question in St. Paul have turned up the dial on the debate ahead of Tuesday's election.

Why it matters: Proponents say the initiative will protect renters from large increases that displace them from their homes.

  • But opponents say the measure will halt the development of new buildings and exacerbate the housing shortage here.
Nick Halter
Oct 21, 2021 - Politics

Where Minneapolis' mayoral candidates stand on rent control

Illustration of apartment doorbells with an intercom shaped like a dollar sign.
Illustration: Brendan Lynch/Axios

Minneapolis voters will be asked on their ballots to give City Council the power to create a policy that would limit how much landlords can raise rent on their tenants.

What they're saying: Candidates Sheila Nezhad, Kate Knuth and A.J. Awed all said they support rent control.

  • Nezhad and Awed endorsed Minneapolis United for Rent Control's proposal to tie annual rent increases to inflation or the consumer price index.
  • Knuth supports rent control but didn't specify what type of cap she would back. She wants to make sure it doesn't limit new housing development or hit small landlords.
Torey Van Oot
Oct 11, 2021 - News

More evictions ahead for Minnesotans behind on rent

Illustration of a cardboard moving box with the facade of a house drawn on it
Illustration: Sarah Grillo/Axios

Another wave of Minnesotans who are behind on their rent could face evictions this week.

What's happening: Starting Tuesday, property owners can end leases for any legal reason and file to evict tenants who are behind on rent but haven't applied to the state's rent assistance program.

  • Landlords are required to give 15-day notice.

Why it matters: Evictions destabilize families and have financial repercussions that make it difficult to rent in the future.

  • Landlords, meanwhile, argued this summer that the ongoing protections were putting them in a tough spot, especially when it came to evicting problematic tenants.
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