Pillsbury A Mill renovation project is back, on a new track

  • Article by: Jim Buchta , Star Tribune
  • Updated: October 30, 2013 - 10:22 PM

A new plan for the Pillsbury mill’s renovation is moving ahead after a recession-induced delay.

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jimmywestoneOct. 31, 13 7:16 AM

Hopefully they can fix the structural issues with the building. It is a beautiful building, but the whole building is bowing in the front. The type of limestone that it is constructed from has a limited life due to the amount of clay in it and is starting to fall apart. Hopefully it will be standing long enough to get some good use out of it before it crumbles beyond repair.

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purelogicOct. 31, 13 9:30 AM

"Demand for affordable housing!" Hmm, let me get this straight, you believe people want something for far less than other people pay for it. Novel idea.

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purelogicOct. 31, 13 9:36 AM

To be clear, you want to take a prime piece of real estate along the river. Build nice apartments. Steal tax payer money to pay for other peoples' rent. Populate the area with more low tax paying individuals. This isn't "affordable", the building owner/developer get get the same amount of money. The tax payer are now just paying someone else's rent so they can live in a very desirable neighborhood without having to pay for it. I love the arts, but tax payers shouldn't have a gun to their head just so artists who can't afford to live in high end real estate can do so. I'll send you a list of thousands of affordable apartments, they just aren't riverfront in downtown Minneapolis.

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PicklesOct. 31, 1310:11 AM

The math doesn't add up. $100M for 251 units averages to $400K per apartment. How can that possibly be used for "affordable" housing?

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joe_mnOct. 31, 1311:47 AM

Crazy math/financing? 400k per unit but rent is $1000/month? How does the building owner pay mortgage with such low rents? U can be darn sure everyone who provides "financing" for project is going to make money.

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iubillOct. 31, 13 5:32 PM

Follow the money...Someone is making ton of it on the backs of the taxpayer. $400k per unit but heavily subsidized for artists, wow, makes me want to change careers. Waterfront views for $1000/month. Where do I sign up?

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