http://www.startribune.com/535/story/609695.html
Interesting article
With 16 condo projects under construction and another 20 in the planning stages, the Minneapolis market is poised for a shakeout. In some slow-selling buildings, developers are bringing in new marketing teams to boost sales.
It's been just a couple of years since buyers stood in line to reserve units at condominium projects in downtown Minneapolis. Today, the picture is markedly different.
Here is your grocery storeMarket researchers still see demand for downtown condos growing over the next 10 years, thanks to population increases, baby boomers' pursuit of maintenance-free living and the rising cost of gasoline. But the pace of condo buying isn't likely to stay as fast as in recent years.
"I think we're done with the pent-up demand," said Mary Bujold, president of Maxfield Research Inc. in Minneapolis. "We're just seeing regular demand."
In fact, several large national developers are pursuing development plans in Minneapolis as a vote of confidence that the condo market has long-term viability. That includes a luxury high-rise planned atop a Whole Foods store near the downtown Minneapolis riverfront.