Downtown Minneapolis offices find new life as apartments

  • Article by: Jim Buchta and Janet Moore , Star Tribune staff writers
  • Updated: March 31, 2013 - 5:08 PM

With an oversupply of office space and a shortage of apartments, downtown developers are setting their sights on converting office buildings into living space.

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bizsmithMar. 31, 13 7:03 AM

Once that office space is converted to living space, where will the new residents work? That's a new twist, commute from downtown to the suburbs.

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jtkwiatekMar. 31, 13 8:04 AM

I used to work in Soo line building .

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suuwhatMar. 31, 13 8:42 AM

"the homeownership rate in the Twin Cities has fallen dramatically since the housing crash."---Exactly. But that hasn't stopped another housing bubble from re-inflating. But don't worry--it'll be different this time. It really really will. What happens when a hedge fund liquidates its portfolio of freeze-thaw shacks?

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TerrianneMar. 31, 1310:11 AM

I would love to live downtown, in an exciting vibrant city, with theaters and restaurants and a wonderful orchestra just blocks away. Now that we are re-vitalizing this wonderful building can we save our wounded city ?

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fromupnortMar. 31, 1311:42 AM

Any kind of tax credits are a terrible waste of tax payer funds, expecially in housing. The average tax payer ends up paying for over-priced housing because the developer seeks as high a basis as possible. Then, on top of that, the "investor" has to have a return (sometimes as much as 15% per year) on his money, so we pay a return on using "taxable" funds to people to avoid paying taxes. These are not poor people so the ownership of housing stays with LLCs and LLPs which represent syndicates of banks, insurance companies and utility companies. Tax credits are fascist in my humble opinion because they privatize the profits and socialize the risk.

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jenny1013Mar. 31, 1311:51 AM

$825 for a 1 bedroom for low income workers? I pay a little over 600 a month for a 1 bedroom in Stephen's Square. I'd rather walk a little farther and have the extra money.

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herby2013Mar. 31, 13 1:48 PM

With all the crime and violence downtown Minneapolis, it is going to be hilarious watching these yuppies, guppies, or whatever you call them, complaining about getting robbed or getting their faces bashed in just walking down the street. Every week in downtown Minneapolis there are several armed robberies of a person and aggravated assaults of innocent passersby. Several every week. Search Yahoo for "minneapolis crime map" and you can see for yourself how crime infested downtown Minneapolis really is. You want to live in the middle of all that crime and violence, do ya? It makes you feel cool, huh? Yeah, you real tough. Just wait til the gangbangers get their hands on you.

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hittodeadMar. 31, 13 2:53 PM

jenny1013: that's your choice. A lot of downtown workers with a limited budget would find a rent of $825 for a new apartment in a historic building downtown a great bargain compared to a Stevens Square rental.

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dtmonkeyboyApr. 1, 1310:39 AM

herby2013...their are literally hundreds of thousands of people downtown everyday -- and yes there is some crime, but you are actually more likely to be a victim of crime at the state fair then you are downtown Minneapolis. In addition, the crime rate in most suburbs is higher on a per capita basis....but you keep spewing your falsehoods.

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mjcmspApr. 2, 1312:35 PM

"it is going to be hilarious watching these yuppies, guppies, or whatever you call them, complaining about getting robbed or getting their faces bashed in just walking down the street." ---- This yuppie/guppie/whatever you call me lived downtown for 2 years. Never a single issue and I walked to and from work everyday at all hours. I did have someone break into my car to steal a jacket in Eden Prairie once however.

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