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Minneapolis CBD accounts for 20% of multifamily development since 2012 and 20% of future construction

  • ​Across the Minneapolis-St. Paul metro, the Minneapolis CBD is the most attractive neighborhood for new multifamily development, capturing one out of five new units delivered since 2012 (or 3,560 units in total). The Minneapolis CBD includes the popular North Loop neighborhood, as well as East Town where vacant parking lots have been converted into new developments. As a whole, the City of Minneapolis has captured 41% of new apartment units in the metro since 2012.
  • Meanwhile, Saint Paul’s multifamily construction is slowing down. With only 70 units currently under construction, its share has decreased from15% to 1% of metrowide development.
  • Development in the outer ring suburbs is growing the quickest, as prime urban and inner ring suburban sites have been dwindling since the Recession’s recovery. For the purposes of this analysis, we defined inner ring suburbs as cities immediately adjacent to the City of Minneapolis.

Source: JLL Research, Axiometrics​

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