Our Blog

Optimism for Twin Cities New Home Construction

New home construction has nationally fallen to new lows and 2011 is expected to be the worst year on record for the industry. But Minneapolis and the Greater Twin Cities Area are looking good for residential permitting. According to the Minneapolis data the city permitted construction of 1,571 units in 2006, but hit a bottom in 2009 when it permitted only 274 units. That year the city tied with Blaine for the second-most permits. Shakopee was No. 1 at 328. This year alone Minneapolis will issue permits to build more than 1,500 new housing units, according to the Minneapolis Community Planning and Economic Development. That’s double last year’s total and likely the highest number of units for any metro-area city since at least 2006 when Minneapolis issued 1,571 permits.
Posted on 28 August 2011