Residential Building Permits Continue to Climb

Local homebuilders stayed busy in September, although the rate of growth in permits slipped a bit compared with last month’s activity.

In September, residential permits were up 18 percent from a year ago and planned housing units more than doubled. Read more

Minnetonka Medical Building Moves Forward

15306-15500 Highway 7, Minnetonka

After months of delays and design changes, Minneapolis developer Mark Davis has closed on land deals totaling $4.6 million, clearing the way for construction to start next week on the 63,000-square-foot Minnetonka Medical Building. Read more

U.S. Home Prices Rise 12.4%, Most in Years

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WASHINGTON — U.S. home prices rose 12.4 percent in July compared with a year ago, the most since February 2006. An increase in sales on a limited supply of available homes drove the gains. Read more

United Properties and Twins Agree to Transit Hub Deal

The view of the Interchange Project, now named Target Field Station, from overhead. The project will cost $85 million to build. (Submitted rendering: Hennepin County, Perkins Eastman and Knutson)The Interchange project’s name has gone the way of Hiawatha Light Rail Transit and the Central Corridor LRT.

The Minnesota Twins, United Properties and Target Corp. reached a $3.75 million deal with Hennepin County — approved Thursday afternoon — to take over certain operations and other costs of the $85 million transit hub near Target Field. Read more

DLC Residential Purchases Site for 158 Class A Apartment Units

Millenium Apts 5245 Wayzata Blvd St L PA Cushman & Wakefield/NorthMarq Brokered Transaction

A Florida developer has closed on a $4.85 million land deal to build 158 market-rate apartments in the West End mixed-use development in St. Louis Park.

Millennium at West End LLC, an entity related to Dolce Living Homes LLC of Hallendale, Fla., closed Wednesday on the cash deal for two parcels totaling 3.55 acres, according to a certificate of real estate value made public Thursday. Read more

Doubling Down in Downtown

The downtown Minneapolis apartment building boom could soon produce much higher vacancy rates, according to the recent Compass report. Read more