If you are looking to engage in commercial construction in and around Minneapolis, you better understand your environment. Local zoning laws, regulations, and other construction-related issues will be sure to factor into your planning, and knowledge of that environment is absolutely vital to a successful construction project.
Fortunately, plenty of examples exist that can guide your knowledge and provide direction for your undertaking. For instance, a recent $50 million development project in the city’s trendy North Loop neighborhood sheds light on a number of issues you need to know when it comes to commercial construction in Minnesota.
Located centrally in the city, the North Loop is the fastest-growing neighborhood in Minneapolis. It includes the city’s Warehouse Historic District, which is listed as a location in the National Register of Historic Places. But it also has gentrified rapidly, and is now home to art galleries, coffee shops, bars, and even the Tony-award winning Theatre de la Jeune Lune before it closed in 2008. On its southeast edge, the neighborhood borders Target Field.
Naturally, and commonly for a neighborhood growing in popularity so quickly, construction projects have been the norm in the North Loop. In 2015, two developers announced a $70 million project that would create apartments, offices, and a restaurant in the center of the district. The $50 million development project mentioned above will at once renovate existing buildings and add new ones to the neighborhood.
Considering the Construction Circumstances and Peripherals
In the North Loop, projects have taken the shape of either renovation and restoration or new construction. One effort, for instance, highlights the need to turn old and empty warehouses into more desirable real estate. That of course comes with a unique challenge, of accommodating existing tenants while making sure that historic buildings and features are preserved. Renovation has to be careful, ensuring mutual satisfaction by all stakeholders involved.
The potential impact of property development on the neighborhood itself is another important consideration. How will new construction impact traffic pattern, pedestrian friendliness, and other variables that have nothing to do with current or future tenants? Any developer looking to tap into the North Loop gold mine (or Minneapolis construction as a whole) will have to be able to answer these questions.
Finally, the city has officially sought public input for any development plans in the North Loop. The result has been a consistent plan by the City Council, which any developer looking to enter the neighborhood will need to adhere to.
Right now, building in the North Loop seems like a sure win for anyone looking at a new construction or real estate project. But it can only get to that point if you know exactly what to expect, and what will be expected of your project. Considering the circumstances of your construction project, both in the North Loop and elsewhere in Minnesota, is absolutely vital to ensure long-term success.
Working With the Right Partner for Success
In short, commercial construction is about much more than simply the project itself. As recent development projects in the North Loop show, the potential impact of your project goes far beyond the scope you might expect.
That, in turn, makes working with a reliable partner who knows the area well absolutely vital. From sticking to a council-suggested plan to ensuring all the paperwork is right, you need someone who can manage the project for you and ensure long-term success of your construction project.
That’s where we come in. With decades of construction experience in Minneapolis, we want to be your partner in opening up rising neighborhoods like the North Loop for your business. Contact us today to learn more about working together to build your business and your buildings.