226 Homes Planned for Cottage Grove

DR Horton homeA Cushman & Wakefield Brokered Transaction

Two large-scale projects planned for Cottage Grove are another sign that the city’s long-dormant housing market is coming back to life.

If the builders proceed as planned, they will build 226 homes on more than 100 acres of the city’s East Ravine area. Read more

Twin Cities Expecting Strong 2013 Real Estate Market

After a 2012 marked by some hopeful signs of recovery in the Twin Cities commercial real estate markets, 2013 will likely hold more of the same — provided the fiscal cliff negotiations in Washington are resolved quickly, a group of local experts says.

Top players in the Minneapolis-St. Paul industry e-mailed their predictions to Bricks & Mortar for the coming year, and they indicate fairly strong feelings that the multifamily, industrial, investment and medical markets will continue their strong performances from 2012. Read more

Home Building Boom Reaches Medina

A burst of new subdivisions with names like the Enclave and Fields in Medina has the city at odds over how to grow while keeping the character and feel of a community known for its horse farms and large homes on sprawling lots.

The City Council approved the most recent project last week, against the recommendation of the city’s Planning Commission, whose chairman called it “boring” and said it “smacks of Plymouth.” Debate has focused on the layout and mix of housing in some of the subdivisions, part of the westward march of development that has filled in much of nearby Maple Grove and Plymouth. Read more

Apartment Market Showing Signs of Slowing???

Minneapolis-based Greco Real Estate Development recently started construction on a 171-unit apartment project at 2900 Lyndale Ave. S. in south Minneapolis. The site previously sat idle for years. (Staff photo: Bill Klotz)

Developer Arnie Gregory has been one of the busiest players in the current Twin Cities apartment boom.

His company, Minneapolis-based Greco Real Estate Development, just started construction on its latest project, a 171-unit market rate apartment complex along the Midtown Greenway in south Minneapolis expected to come on line in 2014. Read more

Iowa Farm Values Up 23%

The worst U.S. drought in more than 50 years could not cool off Iowa farmland prices, which drove to record highs for the third straight year in 2012 on strong demand from cash-rich farmers. Iowa farmland prices averaged $8,296/acre, an increase of 23.7% from $6,078 in 2011, according to the annual Iowa Land Value survey compiled by Iowa State University (ISU). This year will also mark the third straight year that Iowa farmland values have risen more than 15%. Read more

Farmland Prices Rise Across Corn Belt

EAGLE GROVE, Iowa — After initially trickling in slower than the auctioneer’s babble, the bids began picking up.  Marv Huntrods, an auctioneer, with Gaylord Jones, who was a winning bidder at the Eagle Grove auction last week.  An auction attendee took a bidder number and a calculator in Eagle Grove. Read more

Additional Downtown Apartments

Opus is about to begin work on its latest project: the Velo, a boutique luxury apartment complex in downtown.Opus Group is about to begin pumping up the tires on its latest project: the Velo, a bicycle-inspired boutique luxury apartment complex in downtown Minneapolis.  The Minnetonka-based developer found a financial partner for the 101-unit apartment complex on a site owned by Merit Printing at 103 Second St. N. in the Warehouse District. Opus announced plans for the project in February. Read more

New North Loop Apartment

The Star Tribune has closed on its sale of a 3.4-acre parking lot in the North Loop area of Minneapolis to an apartment developer.  The newspaper sold the parcel at 815 N. Second St. for $1.8 million to a partnership that includes Solhem Cos. and TE Miller Development Inc., according to a report from the Star Tribune. Read more

New Senior Building Offers Childcare

  • A rendering of the childcare addition, shaded in blue. 

A new senior campus in St. Louis Park is aimed at residents 65 and older, but its also going to have an intergenerational component: a childcare facility for pre-k, toddlers and infants.  Developer Arnie Gregory, principal at Minneapolis-based Greco Real Estate Development, recently announced plans to open a 65,000-square-foot daycare facility called TowerLight Childcare this winter next to TowerLight Senior Center, which held a grand opening last month.  The $16.4 million project was one of the finalists for the 2012 Best in Real Estate Award from the Business Journal. Read more

Burnsville Getting a New Hotel?

An investors’ group is pitching a hotel for Burnsville’s Heart of the City, a long-hoped-for ingredient in the downtown redevelopment area.

“A hotel has absolutely been in the picture from the start,” said Skip Nienhaus, Burnsville’s economic development coordinator. The site, a vacant 1.75-acre parcel near the Burnsville Performing Arts Center and parking deck, was acquired by the city in 2001 to pave the way for a hotel. Read more