Infinity Lofts??? (Minneapolis, Bloomington, Grant: real estate market, rentals, condominiums)

[SoDak11]

Does anyone know anything about these condos in development?? I'm in the process of looking for an affordable/modern/good skyline view condo to buy in the coming year or 2 when I get around to moving to the cities, and I stumbled across their website. Condominiums Minneapolis | Minneapolis Lofts & Condos | Downtown Minneapolis Lofts They are located on 18th St. and Park Ave. and seem to probably have the best skyline view I can find (or at least for the under 200k price).

Does anyone know anything about this place? Developer, builder, neighborhood, anything? I'm not from the area, so I don't really know any of the "good" names in developers/construction companies or much of anything. I know the neighborhood is a little sketchy, but they are right on the edge of the phillips so I'm not sure if thats still considered a bad area or not.

With the real estate market seeming more and more uncertain, I know there are unsold units all over, and whole projects being scrapped, so I don't really know what to think about any of these places. But this one has really peaked my interest...

Thanks.

[Cruz Azul Guy]

yeah I was looking at condos for a little while. My interest at the time was in the condos that were built into the historic Sears tower off of Lake/Chicago. These condos also look fascinating, right between downtown and south Minneapolis. I think they are definitely worth checking out, and you should have alot of bargaining power given the current market. I bet you could finaggle your way into alot of upgrades and a price reduction if you played your cards right.

[Minnehahapolitan]

Yes, the renovated Sears Building is alot nicer. The neighborhood is more convenient, safer, better value, IMO. Some units are cheap, some are more. Crime in that 4 block radius went down 25% simple from the revitalization on that corner. That area will grow in value alot, IMO. I can't recall if the building on 18th and Park has anything to do with the 3 on Franklin and Portland. That area is pretty nasty, that is the first decent building in the area and you would be much more of an urban pioneer. You prob. won't get shot, but there is heavy drug use, associated crimes, poverty, et. cetera. granted, it is better than the heart of Phillips, and your view is guaranteed by I94, but it wouldn't be on the top of most people's list. I couldn't tell you to go for it or not unless I knew you personally. (To be presumptious, if you are a young kid from S. Dak., this would not be the best way to experience the cities. If you don't want to spend more than 200K, there are better options in better areas.)

[music7lover]

I guess it depends if you are a male or female. If female, stay away from Park and 18th.. It is a dangerous neighborhood with drugs and riff raff milling about on the street. Park Avenue also has alot of traffic so you will have noise.

There are tons of condos in Minneapolis, actually TOO MANY because they overbuilt and still are building them. They are nuts. There are not enough buyers here for them and for $200,000, a person could buy a nice little starter house for that.

Be patient. You can find a condo in a much better neighborhood than Park.. Also, the Sears condos are in a crap area too. You wouldn't want to be walking around after dark around Sears or the Park & 18th condos.

[Cruz Azul Guy]

I don't think Lake and Chicago is that bad right now. The new bad area of South Minneapolis, and please correct me if I'm wrong, is 34th and Park/34th and Chicago. I don't understand what the deal with that little area just west of Powderhorn Park but it seems to have been out of control for the last 6 months or so. Gangs maybe?

[Minnehahapolitan]

I think it is more towards 38th, esp. near the Cup Foods. I wouldn't call Lake and Chicago very bad. Again, crime is down (by large margins), the area is cleaning up, et. cetera. It isn't Uptown, but I doubt anyone with any city smarts in in horrible danger.

[SoDak11]

This building doesn't have anything to do with those 3 on Franklin and Portland. I believe those are called the Jourdain or something like that. They are a mixture of lower income rentals and regular rentals and stuff (maybe some condos too) like that I think.

I was walking around the area a few weeks ago when I was in the cities, and I didn't see any problems right around there. Granted that was during the day, but I thought most of the sketchier stuff was farther south, between Franklin and Lake.

On another note then: Do you think that little area between 18th and Franklin from I-35 to Hiawatha Ave. is getting better or worse??

I know they are in the process of developing the 4 corners on Franklin and Portland with different stuff. And if these Infinity Lofts do get built, that would be a welcome addition the area as well. Franklin seems to have some good things going on, such as the library being redone too.

I'm just wondering if its better to pay more for less in an established area (like Uptown), or pay less for more in a "developing" area, and hope that more development comes along to boost the value of your property and boost the quality of life in the area. Obviously that depends on how much money you have to work with. If the area is in fact getting better, I think I would rather get in while its cheaper than after its been "discovered" and the prices of real estate are way higher. I guess thats what being an "urban pioneer" is all about.

Just my 2 cents.

[Minnehahapolitan]

Exactly. I don't see the Phillips area in any decline. All the projects that we have talked about have helped the area tremendously, but it is still a pretty rough area. Uptown will always be Uptown. It would take some sort of catastrophe to devalue its importance, value, et. cetera. With Phillips, the area will eventually be amazing. That said, you have no idea when it will be amazing. It isn't like it is half-way there, it is just beginning to turn around. It may take 5 years, 10, or 20. Remember, I am talking about Phillips as a whole. Franklin is the silver-lining of that area, and initial redevelopment will (and is) taking place there. I suppose what I am trying to impart is that, if you plan on living in Philliips, you damn well better know the area well. Be an activist for the neighborhood, know neighbors, et. cetera. That's about all I can say, the decision is yours.

[music7lover]

Phillips neighborhood??.. Let's see...my coworker used to live in that neighborhood. He said that his house was robbed 4 times and he has an alarm system. He moved the hell out of that neighborhood.

Like the above poster says... The choice is yours..

[Cruz Azul Guy]

By the way, the building he is looking at isn't in Phillips, it's 2 blocks north of it. Also, Phillips is a large neighborhood. There are definitely some bad blocks but I wouldn't generalize the entire area. Back in the mid 90's the worst parts were major intersections, Lake/Chicago, Portland/Franklin. 2000-2003 it moved in to places like 25th and Bloomington where the Commodore and Super America are. I'm not sure where the really bad parts of the neighborhood are now. Overall I think its still one of the poorest neighborhoods in the city and definitely not one of the safest but it has been improving with the rehabilitation projects that have been taking place.