Minneapolis Real Estate – Himspairport http://himspairport.com/ Mon, 17 Jan 2022 18:14:58 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://himspairport.com/wp-content/uploads/2021/05/default.png Minneapolis Real Estate – Himspairport http://himspairport.com/ 32 32 Digital Consultant OST to Expand Cloud Services with Latest Acquisition https://himspairport.com/digital-consultant-ost-to-expand-cloud-services-with-latest-acquisition/ Mon, 17 Jan 2022 18:14:58 +0000 https://himspairport.com/digital-consultant-ost-to-expand-cloud-services-with-latest-acquisition/ GRAND RAPIDS — Digital and IT consultant sound expanded its cloud service capabilities through a recent acquisition. On Monday, the Grand Rapids-based company announced that it had completed the acquisition of Stratum Technology Management just before the end of 2021. Stratum is based in Richmond, Texas, and combines architects, engineers, and cloud project managers with […]]]>

GRAND RAPIDS — Digital and IT consultant sound expanded its cloud service capabilities through a recent acquisition.

On Monday, the Grand Rapids-based company announced that it had completed the acquisition of Stratum Technology Management just before the end of 2021. Stratum is based in Richmond, Texas, and combines architects, engineers, and cloud project managers with OST.

The acquisition gives OST customers access to a more robust cloud service, while the two companies also separately specialize in cloud services tailored to the healthcare industry.

“Stratum has been a market leader in cloud integration and managed services for six years,” Stratum CEO and co-founder Ryan Trimberger said in a statement. “Our customers had an appetite for other services that were not part of our core business, and we found OST to be the perfect fit, both technically and culturally, for our employees and customers.

“This acquisition with OST is a strategic move to better serve our customers as demand increases for cloud (Internet of Things), healthcare-focused cloud deployments and managed services,” he added.

In an announcement about the deal, OST said it continues to seek new partnerships that will enhance its capabilities. The company — which operates locations in Grand Rapids, Detroit and Minneapolis — is also looking for leads that fit its culture.

In 2021, corporate action acquired Based in Minneapolis Azul Seven, a digital design and integrated services provider, and focused on integration over the past year. The move bolstered OST’s existing presence in Minneapolis.

“For 25 years, OST has helped clients design, build and manage how and where technology works,” OST President and CEO Meredith Bronk said in a statement. “The acquisition of Stratum Technology reflects a rapid acceleration in this space and ensures that OST continues to drive meaningful and valuable results for our customers.”

Since 2012, OST has been a holding company of Kodiak, based in Alaska Koniag inc., an Alaska Native Regional Corporation established for the benefit of more than 3,400 Alutiiq shareholders of the Kodiak Island area.

Koniag has a diverse portfolio that includes businesses in the public procurement, commercial IT, and energy and water sectors, as well as real estate across the country.

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How much is Prince’s estate worth? Find out here https://himspairport.com/how-much-is-princes-estate-worth-find-out-here/ Sat, 15 Jan 2022 22:14:00 +0000 https://himspairport.com/how-much-is-princes-estate-worth-find-out-here/ MINNEAPOLIS (AP) — The six-year legal battle over the estate of pop superstar Prince is over, meaning the process of distributing the entertainer’s wealth could begin next month. The Minneapolis Star Tribune reports that the Internal Revenue Service and estate administrator Comerica Bank & Trust have agreed to value Prince’s estate at $156.4 million, a […]]]>

MINNEAPOLIS (AP) — The six-year legal battle over the estate of pop superstar Prince is over, meaning the process of distributing the entertainer’s wealth could begin next month.

The Minneapolis Star Tribune reports that the Internal Revenue Service and estate administrator Comerica Bank & Trust have agreed to value Prince’s estate at $156.4 million, a figure that the artist’s heirs also accepted.

The valuation dwarfs Comerica’s earlier valuation of $82.3 million. The Internal Revenue Service in 2020 valued the estate at $163.2 million.

Prince, who died of a fentanyl overdose in 2016, left no will.

Since then, lawyers and consultants have been paid tens of millions of dollars to administer his estate and develop a plan for its distribution. Two of Prince’s six heir siblings, Alfred Jackson and John R. Nelson, have since died. Two others are in their eighties.

“It’s been six long years,” L. Londell McMillan, attorney for three of Prince’s siblings, said during a Friday hearing in Carver County District Court.

Ultimately, the estate will be almost evenly split between a well-funded New York music company – Primary Wave – and the three oldest of the music icon’s six heirs or their families.

The IRS and Comerica moved into the real estate portion of Prince’s estate last spring. But the more delicate task of valuing intangible assets such as the rights to Prince’s music was not completed until October.

As part of the deal, the IRS waived a $6.4 million “accuracy penalty” it imposed on Prince’s estate. The Minnesota Department of Revenue, which agreed to the estate valuation, also waived a penalty for accuracy, according to the filing.

Prince’s wealth taxes will reach tens of millions of dollars.

Just over $5 million of Prince’s estate will be exempt from tax under federal law, but thereafter the tax rate is 40%. In Minnesota, the first $3 million is tax exempt; after that, much of Prince’s estate will likely be taxed at 16%.

In mid-2020, Comerica sued the IRS in US tax court, claiming the agency’s calculations of estate value were riddled with errors. A tax trial scheduled for March in St. Paul was canceled due to the settlement.

Comerica, in a court filing on Friday, said that even if the IRS settlement was “just and reasonable,” he believes it would have “prevailed” in the tax court case. Comerica said he told Prince’s heirs that if lowering estate taxes was their “primary interest,” they should continue to lobby the IRS and, if necessary, take legal action.

“Instead, the members of the heir group have uniformly communicated to (Comerica) their strong desire that the estate be settled with the tax authorities,” the filing said.

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Why did Minneapolis’ famous flour boom go bankrupt? https://himspairport.com/why-did-minneapolis-famous-flour-boom-go-bankrupt/ Fri, 14 Jan 2022 14:37:30 +0000 https://himspairport.com/why-did-minneapolis-famous-flour-boom-go-bankrupt/ Listen and subscribe to our podcast: Via Apple Podcasts | Spotify | embroiderer Minneapolis has been the milling capital of the world for nearly a century. But this industrial success, which lasted 50 years, remains a source of great pride for the “Mill City”. High school student Nick Zylstra discovered the city’s milling prowess in […]]]>

Listen and subscribe to our podcast: Via Apple Podcasts | Spotify | embroiderer

Minneapolis has been the milling capital of the world for nearly a century. But this industrial success, which lasted 50 years, remains a source of great pride for the “Mill City”.

High school student Nick Zylstra discovered the city’s milling prowess in a Minnesota studies course. But he wondered: what happened? He sought answers about why the flour boom didn’t last from Curious Minnesota, the reporting project fueled by Star Tribune readers.

The basic answer is that, in 1930, transportation, tariffs, and other factors made it more profitable to mill and ship flour from other cities—especially Buffalo, NY. Pillsbury, continued to prosper by investing in factories elsewhere.

“All the things that were [Minneapolis’] the benefits slowly eroded over time,” said David Stevens, site director of the Mill City Museum, which is owned by the Minnesota Historical Society.

Become the city of mills

Before the widespread use of electricity, Minneapolis became an industrial center because factories ran their machinery using water power from the natural high drop of the Mississippi River at St. Anthony Falls. As early as the 1840s, sawmills took advantage of this power to process tree trunks that had been floated down the river from the forests of northern Minnesota.

Milling, however, posed challenges.

Minnesota-grown hard spring wheat has a hard exterior that has broken off when milled using traditional methods, Stevens said. The resulting flour was speckled brown and spoiled quickly, due to the oil in the germ. Millers in southern Minnesota therefore began experimenting with a more gradual reduction process to extract the bran and germ, he said, leaving only the white endosperm.

“Once they figured out how to do this, spring durum wheat flour was truly the best bread flour in the world,” Stevens said. These methods were eventually adopted by Minneapolis riverside millers, resulting in what he calls a “democratization” of white flour – once considered a delicacy enjoyed by European aristocrats.

“Not everyone could afford it,” Stevens said. “It was a combination of cheap energy and this new technological revolution that kind of made this available for a mass market.”

Expansion into European markets around 1880 made Minneapolis the world leader in flour milling, he said.

It was a good time for Minneapolis. The town’s population nearly quadrupled in the decade after 1880. Washburn Crosby Co. – now General Mills – and Pillsbury Co. opened what were then the largest flour mills in the world in 1880 and 1881, respectively, located by the river. (One is now the Mill City Museum and the other contains apartments.)

Minneapolis flour production rose from 7 million barrels in 1891 to more than 20 million barrels at its peak during World War I in 1916, according to a 1929 history of American flour milling by Charles Kuhlmann. Just one of those barrels was equivalent to 196 pounds of flour.

“Depriving this city of its greatest prestige”

There is no simple explanation for why Minneapolis lost its milling title. The decline is the result of several factors, as noted in a summary compiled by the Mill City Museum.

First, it has simply become more expensive to ship flour from Minneapolis compared to other cities. Kuhlmann’s story explains that “special favors from the railroads” had helped the Minneapolis millers expand their empire. The Interstate Commerce Commission, which regulated freight rail rates, removed some of these benefits beginning in the early 1900s.

Minneapolis had enjoyed lower rail rates due to the competing Mississippi River trade route, for example. But the board removed that in 1922. Millers had also paid a cheaper rate on their flour shipments because it was considered wheat making a stopover en route to its destination. The commission eliminated this in 1920, forcing them to pay the highest rate for flour shipments.

When Washburn Crosby announced it was building a new factory in Buffalo in 1903, the company president told the Minneapolis Tribune that freight rail congestion was hampering shipments to eastern markets.

“Of course, Minneapolis is and will remain the dead center of world milling,” James S. Bell told the newspaper.

The city of Buffalo benefited from its location. Grain shipments from ports like Duluth could get there via the Great Lakes, and processed flour could easily make its way to the East Coast and international markets.

Because of this, Buffalo also benefited more than Minneapolis from an 1897 tariff change that allowed Canadian wheat to be imported, milled and exported duty-free, according to the museum’s summary.

Meanwhile, other varieties of wheat began to compete with Minnesota’s prized hard spring wheat in the early 1900s. And the benefits of cheap water power were diminishing day by day due to advances in technology.

“Buffalo is becoming the largest milling center in the world, robbing this town of its greatest prestige and the reason for that is – freight rates,” proclaimed HG Benton, secretary of the Minneapolis Real Estate Board, in 1925, according to the Minneapolis Star.

By 1930, Buffalo was producing more flour than Minneapolis, ending Mill City’s half-century dominance in the market. Kansas City also rose to prominence as a milling center. Pillsbury and Washburn Crosby have invested in factories at or near both locations.

“Buffalo was the main competitor, but no city would dominate the industry again like [Minneapolis] did from the 1870s to around 1915,” historian Bob Frame, who writes a book about flour milling in Minneapolis, wrote in an email. “Buffalo really hasn’t become the ‘Mill City’ like [Minneapolis] was the Mill City.”

An industrial heritage

Minneapolis riverside milling eventually died out (with the exception of a Pillsbury plant which continued to operate until 2003). Loggers ran out of white pine for sawmills around 1910, Stevens said. Many riverside flour mills were razed in the 1930s, Frame said.

“It left the [Minneapolis] milling district in St. Anthony Falls is not much different than it is today, with five mill structures remaining,” Frame wrote.

Patrick Ryan, who oversees education and programs at the Buffalo History Museum, said Buffalo residents are very proud of the area’s role in milling history. Grain elevators still dot the waterfront, he said, some of which have been redeveloped into art installations.

“The largest grain and milling structures in the area and what to do with them have been hotly debated in recent years, with most residents clamoring for historic landmark status,” Ryan wrote in an email. Among those structures, which are currently the subject of a legal battle, is the 1897 Great Northern Elevator, which was owned by the Pillsbury Co. for several decades.

The city is also home to a massive General Mills factory that produces Cheerios. ‘My town smells like Cheerios’ The products are popular in local stores, Ryan said, and even the local visitors bureau promotes the phrase.

Today’s flour milling industry relies on a smaller number of large factories, Josh Sosland, editor of Milling & Baking News in Kansas City, Mo., told the Star Tribune in 2019. Their location increasingly depends proximity to major population. centers, he said, in relation to the location of an abundant supply of wheat.

If you would like to submit a Curious Minnesota question, fill out the form below:

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Read more curious stories from Minnesota:

Why does the Stone Arch Bridge cross the river at such a strange angle?

Why did Minneapolis demolish its largest train station?

How did Île Nicollet become a park with private accommodation?

Why don’t farms water their crops at night?

Why do Minnesotans have accents?

How did Minnesota take its shape on the map?

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Sale of 435-acre site opens door to massive residential development in Rosemount https://himspairport.com/sale-of-435-acre-site-opens-door-to-massive-residential-development-in-rosemount/ Wed, 12 Jan 2022 23:41:24 +0000 https://himspairport.com/sale-of-435-acre-site-opens-door-to-massive-residential-development-in-rosemount/ The sale of 435 acres in Rosemount paves the way for a sprawling new development with more than 2,000 homes and apartments and a new elementary school on land owned by the University of Minnesota. “The site is the biggest proposition we’ve had in Rosemount,” said Eric Van Oss, economic development coordinator for the city. […]]]>

The sale of 435 acres in Rosemount paves the way for a sprawling new development with more than 2,000 homes and apartments and a new elementary school on land owned by the University of Minnesota.

“The site is the biggest proposition we’ve had in Rosemount,” said Eric Van Oss, economic development coordinator for the city. “And the property is probably one of the biggest development sites in the metro area.”

The closure comes after several years of creating a master plan for the site, which is part of a much larger redevelopment project for the city. The basic elements of the proposed project, known as Amber Fields, were approved last fall.

Along with badly needed housing and a primary school, the project will also include more than 100,000 square feet of commercial space, parks and open space.

“You don’t see a lot of nearly 500-acre sites anymore,” said Twin Cities-based Mario Cocchiarella, CEO of Maplewood Development, which paid $13.1 million for four parcels through an entity called Earl Street Partners, according to a real estate certificate. value filed Tuesday.

Cocchiarella said if the weather cooperates, he will start building roads and other key infrastructure in late February.

The first order of business, he said, was to build a “secondary road” and a main water pipe to the northern end of the site. Most multi-family housing – traditional rental apartments, townhouses and single-family homes – and commercial developments will be north of this new road.

Cocchiarella estimates that 20-25% of the accommodations on the site will be rentals, but most will be homes for sale. He noted that all “vertical construction” will be handled by other builders.

“I’m a real estate developer,” he said. “I level the site, build the roads and do all the underlying construction.”

He said the multi-phase project will take about five to eight years.

Demand for homes in the fast-growing city has been strong, creating a growing shortage of options for buyers. And that has resulted in above-average price increases at Rosemount.

From January to November of last year, there were nearly 7% fewer real estate listings in the city compared to the previous 11-month period, according to the latest data from Minneapolis-area real estate agents.

On average, homes in the city sold in just 22 days in November, nearly 30% faster than the previous year. And buyers paid an average of nearly 103% of the seller’s asking price, resulting in a more than 15% increase in the median price of all closes during the month.

The property, which borders Dakota County Technical College and is south of E. 145th Street, was part of a 4,772-acre property owned by the University of Minnesota known as UMore Park.

In 2015, the university’s board approved a plan to sell the property in installments to various developers who would create housing for 20,000 to 30,000 people.

The university received the land from the federal government in the late 1940s and used it for research and education over the decades. The government early in the decade purchased over 11,000 acres from local farmers for an artillery site. A gunpowder production facility came online at the site towards the end of World War II. Today, only remnants of the facility remain on nearby land.

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Massachusetts rent control ban to be debated on Tuesday https://himspairport.com/massachusetts-rent-control-ban-to-be-debated-on-tuesday/ Tue, 11 Jan 2022 00:02:55 +0000 https://himspairport.com/massachusetts-rent-control-ban-to-be-debated-on-tuesday/ Lawmakers considering removing a statewide rent control ban are expected to hear from supporters pushing for action on “protections for tenants in urgent need” and from opponents who say any type of rent stabilization will reduce property tax collections and reduce housing production targets. “There has been a rent control in Massachusetts at several points […]]]>

Lawmakers considering removing a statewide rent control ban are expected to hear from supporters pushing for action on “protections for tenants in urgent need” and from opponents who say any type of rent stabilization will reduce property tax collections and reduce housing production targets.

“There has been a rent control in Massachusetts at several points in history. They had it in the 1920s, 40s-50s and again in the 70s and beyond. There is no reason to conclude that we cannot simultaneously have housing production and tenant protection, ”said State Representative Mike Connolly.

The Cambridge Democrat is a major sponsor of one of two rent control bills submitted to the Legislative Assembly’s Joint Housing Committee on Tuesday. Connolly’s Tenant Protection Act would lift the statewide ban on rent control – or rent stabilization as the bill describes – and give municipalities local control and the ability adjust rent ceilings to meet the unique needs of their communities.

A second bill proposes to link rent ceilings to the consumer price index or up to 5%. The practice of rent control was banned in Massachusetts following a tight statewide referendum in the 1990s.

“Twenty-seven years after the real estate giants organized themselves to ban rent control ordinances in the Commonwealth, rents in many parts of the state have become beyond the reach of working families and in particular people of color. Massachusetts communities are facing displacement due to pre-pandemic forces, and the housing crisis has only been exacerbated by COVID-19 and unemployment, ”Homes For All Massachusetts said in a press release.

The coalition of housing advocacy groups will host a Zoom rally at 10:30 a.m. ahead of Tuesday’s hearing where tenants and landlords will come together to support rent controls.

More than 25,000 eviction notices have been filed with the Massachusetts housing court since the start of the pandemic, and the coalition says the number of no-fault evictions has increased rapidly since the start of 2021.

But a study commissioned by the Greater Boston Real Estate Board and the National Apartment Association, which represent the interests of landlords, shows that rent controls could “dramatically reduce” the supply of apartments, property values ​​and tax revenues. in Boston and throughout Massachusetts.

Boston could lose $ 2 million a year in property taxes, which could drop as much as $ 7 million statewide, according to the study.

“As well-intentioned as the proponents of rent control are, the numbers confirm what economists, academics and landowners know – rent controls don’t work,” said Paula Munger of the NAA.

Oregon, New York and California have all enacted major tenant protection and rent control bills in 2020 amid widespread concerns about evictions in the era of the pandemic and the movement has won. ground in Democratic-led cities from Minneapolis to Boston.

Mayor Michelle Wu stressed that rent control is one of the main tenets of his housing plan, which aims to stabilize the city’s housing market, which is now one of the most expensive in the country.

If the legislature does not pass either bill allowing local control over rent stabilization, Wu said she plans to propose a right to the house petition allowing Boston the power to impose rent controls in the city, which lawmakers are expected to approve.

A city bylaw proposal to implement a “transfer fee” for sales of high-priced properties filed under former mayor Martin Walsh has died in the legislature.

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Vikings welcome bears today in Minneapolis https://himspairport.com/vikings-welcome-bears-today-in-minneapolis/ Sun, 09 Jan 2022 09:55:36 +0000 https://himspairport.com/vikings-welcome-bears-today-in-minneapolis/ The Minnesota Vikings, eliminated from the playoffs and assured of a loss record, play only for pride today when they host the Chicago Bears at US Bank Stadium in Week 18 of the NFL season . Rumors and speculation resulted in the Minesota Vikings sacking head coach Mike Zimmer shortly after the end of the […]]]>

The Minnesota Vikings, eliminated from the playoffs and assured of a loss record, play only for pride today when they host the Chicago Bears at US Bank Stadium in Week 18 of the NFL season .

Rumors and speculation resulted in the Minesota Vikings sacking head coach Mike Zimmer shortly after the end of the season, with general manager Rick Spielman relieved of his duties and reassigned to another position within the organization. Kirk Cousins’ future is also uncertain according to experts.

Injury report

For the Vikings, cornerback Kris Boyd (ribs), offensive guard Wyatt Davis (illness) and cornerback Mackensie Alexander (ankle) are all listed as “questionable” today. Defensive tackle Michael Pierce (illness) is “doubtful”.

For the Bears, linebacker Robert Quinn, defensive lineman Eddie Goldman and defensive back Duke Shelley are all considered “questionable.” Defensive lineman Akiem Hicks is “out”.

Correspondence history

The Vikings and Packers have faced each other 121 times in the regular season and playoffs, with Minnesota leading the series 62-57-2. The Vikings won the Season 1 opener 17-91 on December 20, 2021 in Chicago.

And this from Vikings.com …

The Vikings will greet the 61st season on Sunday with a Week 18 home game against the Bears. Minnesota (7-9) host Chicago (6-10) in the season finale for both teams and in a game that’s just one of two on the Week 18 schedule that doesn’t involve a team that’s already in the playoffs or still alive for the playoffs. (Washington at the New York Giants is the other).

NFC North Ranking

  1. Green Bay Packers (13-3) in Detroit today
  2. Minnesota Vikings (7-9) against Chicago today
  3. Chicago Bear (6-10) in Minnesota today
  4. Detroit Lions (2-13-1) vs. Green Bay today

The chances

Vikings are 4 favorite point against the Bears today.

Diffusion

The match is scheduled to kick off at 12 p.m. CT. (TV: FOX, RADIO: 1240 AM and 95.3 FM WJON.)

WATCH: Here are America’s 50 Best Beach Towns

Each beach town has its own set of pros and cons, which got us thinking about what makes a beach town the best to live in. To find out, Stacker took a look at WalletHub data, released on June 17, 2020, which compares US beach towns. Ratings are based on six categories: affordability, weather, safety, economy, education and health, and quality of life. The towns had a population of 10,000 to 150,000, but they had to have at least one local beach listed on TripAdvisor. Read the full methodology here. From these rankings, we have selected the top 50. Readers who live in California and Florida won’t be surprised to learn that many of the cities featured here are in one of these two states.

Read on to see if your favorite beach town has made the cut.

The 100 Best Places to Live in the Midwest


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Lainerie Faribault joins forces with American Olympic teams https://himspairport.com/lainerie-faribault-joins-forces-with-american-olympic-teams/ Fri, 07 Jan 2022 18:36:57 +0000 https://himspairport.com/lainerie-faribault-joins-forces-with-american-olympic-teams/ When you light up the next Olympics, February 4-20 in Beijing, you might want to keep your eyes peeled for some locally made blankets! The Faribault Woollen Mill has partnered with the United States Olympic and Paralympic teams to create unique Olympic blankets to celebrate the United States team. The Faribault spinning mill made three […]]]>

When you light up the next Olympics, February 4-20 in Beijing, you might want to keep your eyes peeled for some locally made blankets! The Faribault Woollen Mill has partnered with the United States Olympic and Paralympic teams to create unique Olympic blankets to celebrate the United States team.

The Faribault spinning mill made three separate blankets for the occasion. There is a blanket with a white, red, white and blue base that has “Team USA” in red woven in the middle, a gray blanket base with red, white and blue stripes towards the ends, with “Team USA” woven into the middle. the middle of the blanket, and finally, a gray blanket base with the colors of the Olympic ring woven into the ends of the blanket with the US Olympic team logo woven in the middle.

According to the Minneapolis / St. Paul’s Business Journal:

Could you survive a weekend in this small and famous Faribault Airbnb?

Home life was all the rage a few years ago. Personally, I’m not sure I can fit in this tiny 267 square foot house, but I would love to try it for a weekend!

Sleek Minnesota Home Comes With A Stunning Indoor Pool

A home for sale in Saginaw, Minnesota that is just outside of Duluth is currently for sale and has an indoor pool! And, surprisingly, it costs less than $ 700,000.


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Housing construction in the Twin Cities peaks in 16 years in 2021 https://himspairport.com/housing-construction-in-the-twin-cities-peaks-in-16-years-in-2021/ Tue, 04 Jan 2022 22:27:27 +0000 https://himspairport.com/housing-construction-in-the-twin-cities-peaks-in-16-years-in-2021/ For home builders in the Twin Cities, 2021 has been the busiest year, but not the best, in nearly two decades. Last year, home builders built nearly 7,400 single-family homes, surpassing the previous year by nearly 1,000 homes and the most since 2005, according to data compiled by the Keystone Report for Housing First Minnesota, […]]]>

For home builders in the Twin Cities, 2021 has been the busiest year, but not the best, in nearly two decades.

Last year, home builders built nearly 7,400 single-family homes, surpassing the previous year by nearly 1,000 homes and the most since 2005, according to data compiled by the Keystone Report for Housing First Minnesota, a group sales representative who represents the builders of Twin Cities.

Builders received 7,811 permits to build 15,073 houses and apartments. The construction of collective housing is down slightly compared to the previous year. In 2021, builders received enough permits to build 7,687 units, mostly rentals at market rates.

“The shortage of homes for sale in the Twin Cities and the demand for new housing is now at a level we’ve never seen before,” said Todd Polifka, 2021 president of Housing First Minnesota.

Despite strong demand for new homes, home builders faced a number of challenges during the year that resulted in construction delays and sharp price increases.

“The problem of supply and demand, regulatory restrictions, labor shortage, lot shortage and supply chain issues add to a very difficult market for manufacturers to overcome. in order to meet the needs of our housing consumers, ”Polifka said.

These challenges have made it all the more difficult for home builders to make homes more affordable, especially for those buying their first home or downsizing.

At the end of November, the median sale price of a newly built home in the Twin Cities was $ 466,900, according to Minneapolis Area Realtors, which only tracks sales of new homes listed through a real estate agent. This is an increase of almost 10% over the same period last year and $ 112,000 more than the price of an existing single-family home.

“Given the limited supply and strong demand for new and resale housing, house prices have risen rapidly, causing additional entry-level buyers to rise in prices with each increase,” he said. said Danielle Leach, vice president of Zonda, a national housing research company.

She said the onset of the pandemic had caused unprecedented demand from entry-level buyers as well as first-time buyers in the Twin Cities. While builders have gone to great lengths to start the units in 2021, labor and supply constraints have caused closures to be delayed.

Despite so many obstacles, residential construction in the Twin Cities has far surpassed commercial construction. There is weakness in the office sector but growth in industrial construction, led by distribution centers and warehouses for Amazon and other large national companies.

Dodge Data and Analytics recently said that in the first 11 months of 2021, non-residential construction in the 13-county metro only exceeded 9% the previous year, compared with a 32% increase in construction. residential, which was almost equally among single-family homes. family and multi-family.

Despite tensions from record lumber prices and a worsening labor shortage, developers last year broke new ground on several sprawling projects that had been in the works for years.

This includes the Highland Bridge project in St. Paul, a 150-acre redevelopment of the former Ford plant along the Mississippi River, which has been in planning for about a decade. And in Minneapolis, developers have launched North Loop Green, a mixed-use, multi-block project that will include two towers and 350,000 square feet of office space.

This project and several others have helped make Minneapolis the busiest city for subway residential development. The developers planned to build nearly 2,700 new units – mostly rental housing, more than twice as many as in Lakeville, which saw the second-highest number of units in the metro. For single-family construction, Lakeville, Woodbury and Cottage Grove were the three most active communities.

Leach said that with mortgage rates set to rise to no more than 3.5% for a 30-year fixed-rate mortgage, she expects many of the same forces that have shaped the market in 2021 , including strong demand associated with labor and supply constraints, continue until 2022.

“The demand from entry-level buyers remains,” she said. “But there is very little inventory at their required and achievable price points.”


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Olmsted County has 151 real estate deals over $ 1 million in 2021 – Rochester Minnesota news, weather, sports https://himspairport.com/olmsted-county-has-151-real-estate-deals-over-1-million-in-2021-rochester-minnesota-news-weather-sports/ Mon, 03 Jan 2022 14:37:57 +0000 https://himspairport.com/olmsted-county-has-151-real-estate-deals-over-1-million-in-2021-rochester-minnesota-news-weather-sports/ 2021, a year without many business highlights, has turned into a significant year for real estate in Rochester with 151 deals over $ 1 million. The largest transaction was the January sale of Med City – Springs’ first “gated community” on South Broadway. Minneapolis – Timberland Partners Investments paid $ 43.3 million for the 228-unit […]]]>

2021, a year without many business highlights, has turned into a significant year for real estate in Rochester with 151 deals over $ 1 million.

The largest transaction was the January sale of Med City – Springs’ first “gated community” on South Broadway.

Minneapolis – Timberland Partners Investments paid $ 43.3 million for the 228-unit housing community at 560 28th St. SE. As part of the deal, the name was changed to Vista at South Broadway.

That is to say Olmsted Countythe largest real estate transaction in the past five years, according to state records.

Over the past five years, 2021 has seen the most real estate transactions with its five best-selling sales totaling $ 150.9 million. It’s based on public records. It is possible that some 2021 transactions are still being processed and have not yet been published.

In 2020, Olmsted County processed 86 transactions over $ 1 million, down from 72 in 2019 and down from 107 in 2018. The year 2017 marked 69 transactions over $ 1 million. dollars.

2018 was the second highest with 107 transactions over $ 1 million, with its highest sales reaching $ 116.48 million.

After the Springs / Vista deal, the next four biggest deals for 2021 included:

  • Red44, a five-year-old apartment complex in Rochester at 839 16th St. SW was purchased for $ 34 million by Multifamily Regency September 22.

  • Rochester Falcon heights townhouse community, a 120-unit, 15-building development at 1111 Killdeer Lane SE and 1120 Killdeer Lane SE was purchased on November 1 for $ 32.5 million by Falcon Heights-DS, Rochester LLC and Townhouses Falcon Heights LLC, both from Fargo, ND
  • Crenlo engineering cabins sold its taxi manufacturing plant at 2501 Valleyhigh Drive NW for $ 21.5 million on June 29 to an Arizona-based net leasehold real estate trust, STORE Capital Corp. As part of the sale, Crenlo agreed to lease the property for 200 months.
  • the Barlow Square mall at the corner of Civic Center Drive and 11th Avenue Northwest was purchased for $ 20.15 million by the San Francisco-based company Glen Una Management Co. June 22.

Commercial properties weren’t the only deals in Olmsted County that exceeded $ 1 million in 2021. Amid the tight real estate market, several high-priced homes also changed hands.
Here are the top five single-family residential properties without farmland that sold last year, according to state records.

  • A home at 912 Eighth St. SW in Rochester sold for $ 2.59 million on November 1.
  • A home at 1248 Baird Lane NE in Rochester sold for $ 2.45 million on July 30.
  • A home at 722 Irvin Lane SW in Rochester sold for $ 1.779 million on November 23.
  • A home at 1305 Fox Grove Place SW in Rochester sold for $ 1.772 million on July 15.
  • A house at 1320 Hamlet Road SW in Rochester sold for $ 1.62 million on September 16.

Jeff Kiger follows trade action in Rochester and Southeast Minnesota every day on “Heard on the Street”. Send advice to

jkiger@postbulletin.com

or via Twitter at

@whereskiger

. You can call him at 507-285-7798.



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Charles Atwood | Obituaries | Mankato Free Press https://himspairport.com/charles-atwood-obituaries-mankato-free-press/ Sat, 01 Jan 2022 20:09:54 +0000 https://himspairport.com/charles-atwood-obituaries-mankato-free-press/ Charles Gould Atwood, 87, of Port Charlotte, Fla., Died on Monday, December 27, 2021 at Fawcett Memorial Hospital in Port Charlotte. Charles was born October 15, 1934 in Mankato, Minnesota, to the late Fredrick and Marjorie (Gould) Atwood. Charles moved to Port Charlotte in 1981 from Mankato, Minnesota. As a successful real estate developer, entrepreneur […]]]>

Charles Gould Atwood, 87, of Port Charlotte, Fla., Died on Monday, December 27, 2021 at Fawcett Memorial Hospital in Port Charlotte. Charles was born October 15, 1934 in Mankato, Minnesota, to the late Fredrick and Marjorie (Gould) Atwood. Charles moved to Port Charlotte in 1981 from Mankato, Minnesota.

As a successful real estate developer, entrepreneur and community leader, Charles’ impact in the Grand Mankato area and throughout the Midwest is a testament to his persistence today. Through his passion for people and his business genius, he led the Atwood companies for over 60 years. He was a municipal councilor and mayor of Mankato. He was the second generation of the family businesses founded by his father in 1934. His son, Thomas Atwood, provided exceptional leadership in the Atwood businesses until his death in 2013. The Atwood businesses are now fourth generation businesses.

Charles loved to be on the water and spent his retirement years as a dedicated sailor. He was a long-time member of the Charlotte Harbor Yacht Club and was the Commodore in 1990. He and his wife Ann were avid travelers and have seen the whole of the United States and 7 continents.

Charles is survived by his loving family: his wife, Ann Atwood of Port Charlotte; two daughters, Peggy (Atwood) (Jon) Hellerstein of Charlotte, NC and Linda Atwood of Minneapolis, MN; one sister, Elizabeth Forsberg of Sun City, AZ; 10 grandchildren, Matthew, Andrew, Bryan and Michael Atwood, Peter, Theresa, Michael and Ben Graif, and Jessica and Julie (Smigel) Hellerstein; and 16 great-grandchildren. He was predeceased by his first wife, Mary (Berens) Atwood, and his son, Thomas Atwood.

Memorial services will be held at a later date in Mankato, Minnesota. Memorial contributions can be made to the American Cancer Society.

Friends can visit online at www.robersonfh.com to express their condolences to the family. Arrangements by Roberson Funeral Home & Crematory Port Charlotte Chapel.


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