X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MINNEAPOLIS-New housing starts remained strong in the Twin Cities in August, including planned multifamily units that accounted for 45.5% of the units, or 818 of the 1,799 units in the month. For the year, a total of 47% of the total planned units were for multifamily, according to the Builders Association of the Twin Cities.

This compares to multifamily units running at 48.6% in 2003, 43.7% in 2002, 41.5% in 2001 and 37.5% in 2000. In August, there were a total of 985 permits, 4% higher than the 945 permits issued in August last year. The 1,799 planned units, which totaled in value of $301.3 million, were 7% ahead of the comparable numbers a year ago.

For planned units, Stillwater took first place with 111 units, Ramsey came in second with 105 units, Shakopee retained third with 99, Blaine moved into fourth with 98, and Maple Grove rounded out the top five with 88. In permits, Shakopee took the lead with 55, Blaine moved to second with 53, followed by Woodbury with 52, St. Michael with 38, and Rosemount with 57.

Keystone Report, a Chanhassen-based research firm, compiles the information for the Builders Association of the Twin Cities.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.