A new 10-story, 192-unit luxury apartment complex is expected to open in March 2013 in the western Minneapolis suburb. The Star Tribune reports the $40 million project will feature a rooftop terrace, a clubroom and a piazza recreation area.

For the first time since emerging from bankruptcy nearly three years ago, the parent company of the Star Tribune will have a majority owner, the newspaper reports. Wayzata Investment Partners, the largest minority shareholder of the media company, received approval from other shareholders to increase its ownership stake to 58.2 percent from 49.8 percent in a $4.1 million deal.

Looking to rent a place in the urban center, with all the amenities, close to shopping, gyms and a good coffee shop? Get in line. Developers are scrambling to meet demand for high-end apartment complexes in the Twin Cities. In the fourth quarter of 2011, Minneapolis issued permits to build 1,900 residential units in downtown alone, KARE 11 says.