Minneapolis enjoys $1B construction boom - Bring Me The News

Minneapolis enjoys $1B construction boom


The Star Tribune reports that more than $1 billion in construction projects have been approved in Minneapolis this year, according to permit numbers released Monday.

Specifically, 12,161 building permits have been issued in the city, many for downtown projects. A variety of building projects – but especially apartment construction – is fueling the boom, the newspaper reports.

A $73 million, 36-story luxury apartment building is the biggest project in terms of cost, Fox 9 reports.

The second-largest project is another apartment building with a Whole Foods store on the first floor. Project leader Mark Ford told Fox 9, "It's been rare in the last four years to see a tower crane in Minneapolis. It's nice to have it back."

It's the first time since 2000 that the city has had more than $1 billion in projects approved, the city of Minneapolis reports. The city lists the top five projects.

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Construction activity booming in the Fargo-Moorhead metro

With a nearly 50 percent increase in building permits, the construction industry in the Fargo-Moorhead area is having its best year since 2007, according to information released by the Fargo Moorhead Home Builders Association. The Forum reports new housing starts are also up more than 90 percent. The association's president attributes the increase to record low interest rates and more people moving to the F-M area from the hectic oil fields of western North Dakota.