There are some problems with the redevelopment plans in the immediate area including portions of the Edina Pentagon office park being in foreclosure (according to the MSP Biz Journal) and the aloft hotel not breaking ground until spring/summer. Nonetheless the show must go on.
There are 36 condominium units in the building and currently 7 are listed in the MLS. Prices range from $229k for 1 bed 1 bath units all the way up $489k for a 2 bed 2 bath units.
Here’s the dealio from the website:
Not to shabby… except for the closing costs. I bet you could get the developer to pay all closing costs and more. Ask me how here.
]]>The Village at Mendota Heights offers a quite area for residences but the downtown feel with the Market Square retail and office area.
Condos and Town Homes
The Village offers single level condos and unique row townhomes that come from an award winning developer.
Condominiums are single level and come complete with brick/stucco exteriors and patios with gas line grill hook-ups. Square footage for the condos are around 1300-1900 and range in price from$330k to mid $500′s.
Enjoy private entrances on the town homes along with heated underground parking. These aren’t your normal townhouses you see all over the city either, offering 10 foot ceilings on the main level and 9 foot on the second level.
Both styles of condos and town homes come complete with luxury upgrades in the kitchen and baths as well as being energy efficient when it comes to the building of the units.
There are some existing units for sale in the area so if you don’t want to buy new, make sure to check out the resale units as well.
You don’t have to worry about much in this association maintained environment. Association dues run around $470 on the condos and in the low $300′s for the town homes.
There is also a senior apartment complex consisting of around 60 units.
Market Square
This area is where all the retail and office space is located. Centered around a common area with a fountain, there is variety of shops ranging from Tommy Chicago’s Pizzeria to a couple of wine bars.
Click here for a complete list of tenants that are in The Village.
No excuse not to work out because there is an Anytime Fitness in the area along with open space, parks and close to trail systems.
Location
You can find The Village off of highway 110 and Dodd Road, right off 35E and not that far off from Highway 3 (Robert St).
If you have any questions about The Village Mendota Heights feel free to reach out to me here.
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Interesting article over on the Zillow blog about ballparks increasing values of homes or neighborhoods close to the bark. The study uses data from Zillow’s Home Index and not local MLS data but brings together neighborhood values for different ball parks in pre-completion stage to home values after completion of a new ball park.
The study shows over the course of 3 years after the ball park is open, home values tend to rise but after that level off.
Having a condo with an unobstructed view of Target Field will definitely be a great way to watch a game. Which leads me to ask…
Where to Live Close to Target Field
The new Twins stadium is located in the North Loop area of Minneapolis which has grown fairly fast the past few years, aka the Warehouse District. The area used to be vacant land and commercial buildings but has turned into a vibrant neighborhood that encompasses the downtown area.
The area is definitely walkable and riding a bike can get you almost anywhere, easy access to the Grand Rounds Scenic Byway. The area will also serve a light rail station to the Hiawatha line and Northstar. No need for ‘big name chains’ in this area, here you will find trendy shops, fine dining and right next to the Mississippi River.
The area has definitely seen it’s developers with condo projects come in and listed below are some condos and lofts, new and existing in the North Loop neighborhood.
Condos and Lofts in the North Loop:
- Bassett Creek Lofts
- Bookmen Lofts
- Bookmen Stacks
- Harvestor Lofts
- Herschel Loft
- Itasca Lofts
- Lindsey Lofts
- River Station
- Rock Island Lofts
- Security Station
- SoHo Lofts
- Tower Lofts
- Whitney Square Lofts
- 5th Avenue Lofts
- 212 Lofts
- 710 Lofts
- 720 Lofts
- 730 Lofts
- 801 Washington Lofts
- 918 Lofts
Will be interesting to see if this holds true over the next few years and follows the path of existing baseball stadiums raising home values.
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The other day I was showing some condos in Minnetonka, had walked up the back steps to find the lock box to a few units and found two railings stacked. I guess there are a more than just three condos for sale at Cloud Nine Sky Flats. Took awhile to find the necessary keys but leads one to belief of why so many units for sale. Nothing new just welcome to another building with its share of foreclosed condos.
Most of the condos are priced between $89k and $150K according to the MLS. I expected each unit to be a mess with plenty of repairs, after all a few years ago these condos where selling for well into the $200k.
To my surprise the 5 units viewed, none required much of anything besides some paint and drywall mud to plug a few holes. These are not bad units.
A little history
Cloud Nine Sky Flats started out a few years back as an unused corporate building then reworked into residential condominiums along Highway 169 in Minnetonka. Close to restaurants, shopping and some of the best entertainment venues in the southwest metro. Also a stones throw away from Lake Minnetonka and downtown Minneapolis.
Whats Included in Cloud Nine Sky Flats
Alright, get to the nuts and bolts. The building has some fine amenities.
A little bit about the units: Each unit comes with 10 foot ceilings with floor to ceiling windows. The look is more modern, industrialized with colored concrete floors and exposed concrete columns.
The floor plans are open consisting of 1 and 2 bedroom units, with ample living and media areas. Bedrooms also have have glass walls and walk-in closets. Bathrooms come complete with double sink, separate tiled shower and tub. The kitchen includes stainless steel counter tops and upgraded appliances. Ground level terrace units are also available.
Not bad for around a $100k in the Twin Cities. If you don’t live in one, you could probably even cash flow the units as a rental.
Update: There has been quite a lot of mortgage fraud that has come to light in Cloud 9 over the past year. Click here for more info.
]]>Click around the map to zoom in closer.
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]]>The outlook however still looks to be a bit on the shaky side, but optimism remains strong for some sort of stabilization in the second half. The biggest hurdle to overcome will be the job market because as everybody knows, No Job = No Home.
Didn’t Lower Rates Get Us Here
Yes and no, lower rates are great for first time home buyers that can handle the monthly payments. Recently lower rates have sorta thrown the housing market some sort of a temporary lifeline. Mortgage rates have been close to 50 year lows and no better time then now. It should also be known than just because you have good credit doesn’t necessarily mean that you are the right candidate to own a home.
One thing that has certainly come back into reach for first time home buyers in Minneapolis or St. Paul has definitely been the affordability of homes that have been at the lowest since 2004. Good for first time home buyers who may have been pushed out of the market back in the day.
What Will First Time Home Buyers Buy
Unfortunately this doesn’t bold well for the higher end homes of the market, sorry maybe next year. A part of me wants to think that first time home buyers will use much of their allocated money for a down payment, they will need to look at ‘turnkey’ properties that are ready to move in. Because of this little shift, sellers will have to recognize this and be willing to negotiate a fair market value.
Homes that distressed or bank owned foreclosures sometimes require a lot of work just to make them livable. More fixes means more out of pocket expenses to bring the property up to par.
I don’t believe townhomes will be to popular mainly because entry level single family homes will come back into reach for many buyers that are entering the market.
]]>St. Paul Condo and Loft Developments
Condos & Lofts Upper Landing St. Paul/Homecroft
Located along the Mississippi River, redevelopment has been a sticky situation along this riverbed. But nonetheless, new condos and townhomes have shot up with more to come in the next few years. Take a walk along the river and across the river is Harriet Island. Also close to Crocus Hill.
Condos & Lofts in Downtown St. Paul
Living downtown in a St. Paul condo does have it’s perks. A stones throw away from great eats, thriving business district. Most of downtown St. Paul is made up of entirely condos. Find what you are looking for whether it is a luxe condo in the Lowry or a condo conversion in Lowertown by the the St. Paul Farmer’s Market. A plus for the downtown St. Paul is the lightrail, not here yet but in the possible future?
Market House
Condos & Lofts along University
An up and coming area being revitalized, perfect for people young and old. Located on the border of Minneapolis and St. Paul, close to the University of Minnesota and the 280 corridor.
Condos & Lofts in Crocus Hill/Merriam Park/Grand Avenue
on of the more popular places to live in St. Paul, close to the famed Grand Avenue and Summit Hill with it’s row of mansions, along with Cathedral Hill as one of the more historic places in the city and country. Find plenty of restaurants and shopping going on in this region.
The Aberdeen Condos
Condos & Lofts in Highland Park
Popular neighborhood to call home is the Highland Park neighborhood, condos stretch along the Mississippi River Bluffs that provide a nice view.
Add to the list in the comments below!
Don’t know where to start, ask me here or checkout the City Living program for financing opportunities.
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]]>The website does a great job of breaking down past, current and future development projects. Breakkdown of the projects go as far as individual neighborhoods. Keep track of that development that was approved way back when but for some reason hasn’t broken ground yet. Be in the know of all that is happening. Call it, a Minneapolis project pipeline.
]]>Just like many other metro areas, the city of Minneapolis experienced quite the boom in Condo development. Some made it, some suffered a worse fate of being axed or went through foreclosure.
Minneapolis Condos and Loft Developments
Condos & Lofts in Uptown/Calhoun
A trendy and vibrant area that is centered at the intersection of Hennepin Ave and Lake Street. One of things that makes the area so attractive is the Lakes.
Condos & Lofts in Mill District
Mill District pertains to the lifestyle of the downtown Minneapolis’ grain district. The Mill District encompasses the architecture of the urban living with the rich history of the old mills. The area has gone through an explosive change and population growth.
The Carlyle
Whitney Residences
Condos & Lofts in Downtown
That’s easy, the epitome of downtown urban living. Walk to everything.
Condos & Lofts in Northeast/St. Anthony on Main
Built within the historic St. Anthony Falls District, walk at night along the river and catch scenic views of the Downtown Skyline. Once a thriving industrial district, the area now offers a thriving art district.
Condos & Lofts in the Northloop
Stretching along the north corridor of Washington Ave, Downtown along with the Mississippi. This is where the new Twin Stadium is being constructed. Although it isn’t the only reason why building was sparked.
If you know of some that are missing, add them in the comments below!
Don’t know where to start, ask me here or checkout the City Living program for financing opportunities.
Search for All Minneapolis Condos & Lofts
]]>What is Bloomington Central Station
Pretty much the coolest place in the world right? Probably not but it is suppose to be a residential and business hub for the 21st Century according to the website. The main attraction would of course be the light-rail that makes a couple of stops in the area and also takes you to the Mall of America to the Minneapolis/St. Paul International Airport to downton Minneapolis. It is certainly the focal point of the development.
The first stage of the housing project was with the Reflection Condominiums that have been completed since 2005 but just now closing out on final units. Reflection Condos are very intriguing, have a very sophisticated design (I have seen them with my own two eyes), but are also a model of green living and LEED Certified! More than 800 additional units are planned in the development. Bloomington Central Station should be a unique setting of urban and sophisticated living in a mixed use area of a suburb.
The area should include places to eat, retail and business districts. Walk out the front door and you have what you need. Commuting to work in Bloomington Central Station will be easy not only because of the light-rail and quick access to the freeways, but also because of the already existing business campuses located in the area.
It will be interesting to see Bloomington Central Station take shape over the coming years. Will the current market have an affect on not only residential but also commercial real estate expected to be the next segment to feel the pinch in 2009.
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