Where do you see Minneapolis 10-20 years? (estate, agent)

[Civic]

Midtown Greenway Coalition • Minneapolis

[StanleyVegas]

Originally Posted by rkhallon

Can I ask for neighborhoods within the cities (including St Paul) that may catch your eye? I know about Uptown and the NE Arts District, but what are some neighborhoods that seem to be turning a corner as opposed to already turned? Nothing's a sure thing, I know, but I'd appreciate some insight all the same. Bonus points if they're along or near one of the future LRT lines.

And, again, thanks to all the posters. This is very helpful.

St. Paul neighborhoods along the central corridor LTR:

Midway
Summit-University (old Rondo)
Frogtown (Thomas-Dale)
Capitol Heights
Downtown/Lowertown

Slightly further out but still pretty close:

Merriam Park
Lexington-Hamline
North End & South Como (south of Maryland)
Summit-University (Selby-Dale & Cathedral Hill)

The neighborhoods along the line as you head east toward the Capitol are lower income, ethnically diverse areas with some of the lowest housing prices in the city, with a history of higher crime. If the light rail can bring more business and vibrancy to the corridor without gentrifying the current residents out of their homes and businesses, it could wind up being a pretty cool area in the long run. As you go immediately north of Frogtown, the areas remain fairly low income and low price. As you go immediately south areas that were once pretty run down (Selby Dale.) have improved a lot already. I have friends who recently purchased in the Lexington-Hamline neighborhood.

I'm a recent transplant who purchased in the North End, about 3/4 mile from the light rail. Seems like a lot of big "ifs" regarding the future of our area, but small improvements are happening. Our neighbor who has been here for many years has remarked that things have improved on our street in the last few years even with the vacancies and foreclosures.

So I'm hopeful for the long term -even though I'm not looking forward to the construction when it reaches our end of University Ave.

[Oildog]

They better get a bit more business friendly or more jobs will leave town.

[uptown_urbanist]

I think Midway in St. Paul will really benefit in coming years. Actually, I think all the areas will really benefit from LRT, but Midway in particular already benefits from an extremely convenient location. I don't have as much personal experience with St. Paul, but I think in general having that corridor will really give it a much broader appeal to those looking for urban living; right now I think it often gets overlooked by people working in Minneapolis. And since that line will also go straight through the U of MN campus, it will probably appeal to students/staff/faculty. I agree that there are a lot of "big 'ifs'," but there's certainly massive potential.

In the suburbs, I'd investigate some of the parts of Hopkins along the line. Those aren't "bad" neighborhoods, but I think they're not currently living up to their potential. Same thing with some of the SLP locations. Downtown Hopkins has a bit of a small town feel (as well as decent schools), and I think that once they have direct LRT access to downtown Minneapolis it could really take off as a popular destination.

The Midtown Greenway has also been mentioned, but that's also worth a look. Lake Street has improved dramatically over the past ten years, although many of those areas are not yet gentrified. Ridership on the Greenway has been steadily increasing, and with Minneapolis being such a major biking city (and I believe numbers of bike commuters is also going up every year) easy access to the Greenway is also a potential big selling point. On the west side of 35W, parts of Lyndale Neighborhood (just south of the Greenway) are on the verge of "turning," although not quite there. The neighborhood group is excellent, and they've really turned that neighborhood around since the '90s. Some portions of Lyndale are fully gentrified and nice, but closer to Nicollet/Lake still has some great bargains, and tons of potential. There's a Kmart blocking Nicollet Avenue over there, and one of these years I think the city will FINALLY make them move it so that Nicollet can once again be reopened through there for through-traffic; I think that would also give that area the final boost it needs to be a serious contender as a desirable place to live. It's already "artsy" enough and near the action that it appeals to a younger/single crowd, but it also is increasingly appealing to families; there are some beautiful older homes there, some nice parks, a convenient location, and I'm definitely hearing a lot more positive parent chatter about Lyndale School. I think it will start to pick up more and more families in the coming years, as it's a cheaper alternative to Kingfield to the south or CARAG to the west. If Lyndale sounds of interest, definitely check out the neighborhood organization; they have staff, used to (maybe still do?) manage a lot of development funds to help improve housing stock and invest in the neighborhood, and are all-around a great resource for anyone interested in living in or investing money into Lyndale. They've (and their staff) won some national awards in years past, and you can definitely see the impact they've been having.

[jaxontwinz]

Minneapolis will experience, a condo/loft downtown apartment boom. And St. Paul will have some great new projects underway or constructed (10-15 years). The area population will grow steadily while the urban cores grow somewhat more rapid. The economy will continue to grow, and so will the transportation... by a lot! It will feel very new.

BTW, I recently had two friends come back from MInneapolis and praised all about it. Saying the transportation options were fantastic, downtown is phenomenal and very livable. They thought it would be a great place to live and work. One of them also compared Minneapolis to a small and newer Chicago. Many compliments to the Cities.

[TechieGeek]

I don't see the twin cities becoming 'denser'- I think they are more likely to spread out a little in the country. IMO Minnesota is very family oriented and that = people wanting larger lots/yards and better schools. Those don't tend to be affordable for most downtown.

You have forbes and other sites giving this area very high rankings- MN has fared better than many states especially in the state our country is in. People wanting to relocate with families would likely consider MN. There will probably be a lot of people from different places moving in. Then, they will leave when they realize they can't handle the winter. But people that leave MN, that were raised there, seem to tend to come back. If this state is where you were raised and what you are used to I could see it being hard to leave. So I don't think MN will lose people in the next 10 yrs either- just kind of go through the same cycles it has been.

Weather-wise, while it isn't very predictable, tornadoes and extreme weather are supposed to increase over the next decade. If that does happen, and it happens significantly, the cities could lose people. But the people that will stay would be the same hard working, modest, thick skinned people that represent much of the midwest which I think is good for the economy.

I don't think the cities will go into the same negative direction economically as some of the other larger cities in this country seem to be.

[Astron1000]

Minneapolis & Pittsburgh - Some basic financial numbers

Rank of 2010 Metro Population, % change since 2000:

16 Minneapolis-St. Paul ...3,279,833 +10.8%
22 Pittsburgh ..................2,356,285 -3.08%

National Rank of Gross Metropolitan Product (in billions):

13 Minneapolis-St. Paul-Bloomington, MN-WI ...............198.3
14 Detroit-Warren-Livonia, MI ............................196.3
15 Phoenix-Mesa-Glendale, AZ .............................190.6
16 San Diego-Carlsbad-San Marcos, CA .....................172.7
17 Denver-Aurora-Broomfield, CO ..........................157.1
18 San Jose-Sunnyvale-Santa Clara, CA ....................151.6
19 Baltimore-Towson, MD ..................................144.4
20 St. Louis, MO-IL ......................................128.7
21 Portland-Vancouver-Hillsboro, OR-WA ...................122.8
22 Charlotte-Gastonia-Rock Hill, NC-SC ...................117.3
23 Pittsburgh, PA ........................................115.6

GMP Per Capita:

Minneapolis-St.Paul ....$60,460
Pittsburgh ..................$49,060

2011 Fortune 500 Corporations & Gross Revenue:

Minneapolis-St. Paul........19.........$430.9 Billion
Pittsburgh.......................8...........$79.2 Billion

2011 Global 500 Corporations:

Minneapolis-St. Paul ..........5
Pittsburgh.........................0

[rkhallon]

Many huge thanks to all the posters. This has been tremendously helpful

[politiker]

Originally Posted by rkhallon

Many huge thanks to all the posters. This has been tremendously helpful

Have you decided which city? I'm curious now.

[rkhallon]

It was a tight call, but it's Minneapolis. I'm curious if Pittsburgh would have a prettier 30 year picture, but as for the next 10-20, I'm convinced Minneapolis is the right choice.

Pittsburgh has some gorgeous homes at very affordable prices, and I genuinely love that city. Pittsburgh has milder winters, is wonderfully walkable, isn't as isolated as the cities, and still retains a good bit of the Midwestern charm. Culturally, it's pretty terrific too - from the Warhol to Carnegie to the Mattress Factory, it's top notch. It has a stable economy, a housing market that is affordable and undepressed, also been attracting a bit of film work, which would be a real boon. I've got a special valentine for Pittsburgh, and it breaks my heart that I'm not moving there.

Pittsburgh, however, within my price range, and looking as I am looking for a multi-family home, prices me out. Or, at least, prices me into a location I don't find desirable. The frontiersman in me is appealed by this - really is appealed by this, almost moved just for this - and once again this would be a smart investment over 30 years. Specifically, I think the west end of Wilkinsburg offers some real potential, and I had my eye set on something special. But I'm looking 10-20 years. I think Pittsburgh will grow, but it'll be at a slower rate than what I'm searching for.

So Minneapolis it is. From the multiple LRT lines planned over the next 10 years, to the all the financial numbers astron was kind enough to offer, the low vacancy rate west336 cited, the potential of the midtown greenway (thank you civic), and uptown_urbanist's many many (many) solid insights, the picture seems a tad bit brighter over here. I think the optimism of a poster calling it the second Chicago, a smaller Chicago, isn't completely outside reality. Pittsburgh, on the other hand, makes me fear of Portland, or Baltimore, of a permanent up and coming. Looking at multi-family homes as well, I'm looking at rents, and Minneapolis, St Paul, crunching the numbers, offers me a considerably blacker bottom line.

From a personal level, I enjoy the cultural scene in Pittsburgh quite a bit more. And there's a uniqueness to that city, a grittiness that's doubles as beautiful. Also, as a born East-coaster, there's a edge of "coming home." I miss the East Coast, and I'd at least be in striking distance. I've spent more time in Pittsburgh too - far more time.

The cities have a solid cultural scene, with a decent pair of museums in the MIA and the Walker, and then of course the terrific theatres. The parks are beautiful, the lakes. St Paul. There's a two for the price of one value here that I think goes a small ways understated. Minneapolis appeals to me for the snow too, the lots and lots of snow. I love the idea of swaddling myself in so much winter clothes that I walk around like a gingerbread man, breathing in air so cold that it hurts my lungs. There's a measure of instinct here too, of this being somehow vaguely the right move. Then there's Michelle Bachmann, and how can I resist gathering closer to that sun?

So was it decisive? Absolutely not. I still wonder if I'm making the right decision, and as I wrote about Pittsburgh, and as I'm now thinking about Pittsburgh, the pluses of Pittsburgh, I want to scratch it all and lash my oxen to Pennsylvania, pluck up a ramshackle Victorian fixer-upper on the cheap, and live the life sublime -- possibly dodging bullets in the easterly end of Wilkinsburg. But Minneapolis makes more sense, makes more financial sense, and I'm at an age now where that matters. This will be my first real investment opportunity, and I don't want to screw it up.

So not quite the burning bush to say the least, but here I come anyway.

...

I'm also the guy looking for the real estate agent referral, if anybody would be so kind.

One final thank you for all those who offered whatever they offered.