Jump to content

Stadium Saga, Part XVIII (Wilfs' future plans):


vike daddy

Recommended Posts

zntvsz.jpg

Garden Communities, the residential-development arm of the Wilf family’s New Jersey real estate company, is planning its first downtown Minneapolis project, a 17-story apartment tower near where their Minnesota Vikings play. The firm is planning the 201-unit tower at 240 Park Ave. S., which is at the corner of Washington Ave. and Park. The Wilfs bought the 0.75-acre surface parking lot in 2007. 

There will be indoor-outdoor amenity decks with pools on the 6th and 17th floors, said Don Becker, principal with New Jersey-based Garden Homes. About 5,000 square feet of retail would front Washington Avenue. Five levels of above-ground parking would be wrapped in apartments. Becker said the building would have two-bedroom units that are larger than what’s typical in the marketplace and some of the amenities found in other Garden Communities properties across the country, like a bowling alley or a movie theater.

Becker hopes to break ground in spring, pending neighborhood and city approvals. The Wilfs also own two surface parking lots on the land just north of U.S. Bank Stadium. Two years ago, Garden Communities laid out plans for two potential towers that could be a combination of hotels, condos or apartments above parking podiums.

Edited by vike daddy
Link to comment
Share on other sites

Since the millenials are less interested in actually purchasing houses, they may be right in the game with that type of project.  We've had 2 large upper-scale apartments build here in the downtown KC area very similarly right by the Sprint Center.  Of course, I could never afford them, but still it's where the society is going.  

Link to comment
Share on other sites

3 hours ago, swede700 said:

Since the millenials are less interested in actually purchasing houses, they may be right in the game with that type of project.  We've had 2 large upper-scale apartments build here in the downtown KC area very similarly right by the Sprint Center.  Of course, I could never afford them, but still it's where the society is going.  

Interesting choice of words

Link to comment
Share on other sites

17 minutes ago, skywindO2 said:

Interesting choice of words

They just seem to be.  While only one example (but I have heard others), my nephew is one of them...and he has absolutely no interest in ever purchasing a house.  He doesn't want to have the responsibility of maintaining it.  I personally don't blame them.  I wanted to purchase a house though, because I never had until 2 years ago.  And we're talking never...my parents never owned a house my entire childhood (I was born in the 70s), and I had never had one as an adult.  I'd always lived in apartments.  

Link to comment
Share on other sites

I think that the more common reason that millenials aren’t purchasing homes is because it’s not feasible financially. Student loan debt and stagnant/entry level/intern wages are prohibitive in terms of being able to afford a house on a single income.

  • Like 2
Link to comment
Share on other sites

7 minutes ago, JDBrocks said:

I think that the more common reason that millenials aren’t purchasing homes is because it’s not feasible financially. Student loan debt and stagnant/entry level/intern wages are prohibitive in terms of being able to afford a house on a single income.

And there’s that 20% down payment....big hill to climb these days. 

  • Like 2
Link to comment
Share on other sites

23 minutes ago, marshpit23 said:

And there’s that 20% down payment....big hill to climb these days. 

You can put down less (we only put 10 down), you just end up paying PMI forever. I bought my house 7 years ago, and next month will finally be my last PMI payment. 

Getting back on topic, I do think it’s cool that there is some newer development happing near the stadium. To me it shows personal investment in the area that they asked Minnesotans to invest and trust them.

Link to comment
Share on other sites

4 hours ago, swede700 said:

They just seem to be.  While only one example (but I have heard others), my nephew is one of them...and he has absolutely no interest in ever purchasing a house.  He doesn't want to have the responsibility of maintaining it.  I personally don't blame them.  I wanted to purchase a house though, because I never had until 2 years ago.  And we're talking never...my parents never owned a house my entire childhood (I was born in the 70s), and I had never had one as an adult.  I'd always lived in apartments.  

In general, yes, but I hope I don't fall into that group. 

I'm still trying to get my career stuff going, but eventually when things get settled I'd like to live in a house. My girlfriend feels the same way.

I just don't care for what my generation is doing though overall. Its weird.

Link to comment
Share on other sites

2 hours ago, marshpit23 said:

And there’s that 20% down payment....big hill to climb these days. 

All depends on your situation. I’m lucky enough to not have to worry about that, using the VA loan. 

 

Even so, I think it’s sad the way college is setting so many young people back, and that they feel forced into going into college in order to find a career now. I’m glad I quit after two years, because had I not, I wouldn’t have such a rewarding and amazingly paying job. I can’t stress enough to you people to look into tech schools or certification programs rather than going to college. 6 figure jobs galore out there with maybe 6-8 months of training/schooling. Until college becomes affordable and businesses decide to invest in people who don’t have all of the experience, that’s really the way to go.

Back on subject, though, those apartments sound like they will be really nice. Imagine they will cost a pretty penny for sure. I’ll be interested to find out just how much they go for.

Link to comment
Share on other sites

2 hours ago, NorthCountryEvo said:

Even so, I think it’s sad the way college is setting so many young people back, and that they feel forced into going into college in order to find a career now.

I think part of the problem is that kids don't know what career they want to go into....halfway through, a lot end up switching majors and setting themselves back another year or two.

  • Like 1
Link to comment
Share on other sites

6 hours ago, Klomp said:

I think part of the problem is that kids don't know what career they want to go into....halfway through, a lot end up switching majors and setting themselves back another year or two.

With the diversity of majors and sheer volume of students attending college, advising offices are not nearly as strong as they were in the past. Universities are also profiting from this. I think that I read that each extra year of tuition adds roughly 60-70K in actual cost for education. A decision that someone makes about his or her future at 20 years old shouldn’t be so prohibitive that he or she can’t purchase a home for years. The cost of school is the problem here, not being indecisive as a young adult.

  • Like 1
Link to comment
Share on other sites

14 hours ago, SteelKing728 said:

I just don't care for what my generation is doing though overall. Its weird.

1

I'll agree there...it is just truly weird.  I know my generation was a little different, because we got tagged with being lazy (Gen X), but I think it's turned out, for the most part, that that wasn't the case.  

 

9 hours ago, Klomp said:

I think part of the problem is that kids don't know what career they want to go into....halfway through, a lot end up switching majors and setting themselves back another year or two.

That's always happened.  It happened a lot when I was in college 25 years ago.  But, I agree the finances are all out of whack when it comes to college now.  I've told my children, if they do end up going to college (which I don't believe they will though), that they should go to JuCo first and get the basics done there and then transfer those credits later.  It's a lot cheaper that way.   I'm still paying the price (literally) for going straight to a 4-yr school right out of HS.   

Edited by swede700
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...