Less Parking Lots, More Development?

I See A…. Parking Lot!

Latest News, Market Updates and Trends on July 25th, 2012 No Comments

Have you ever thought about how many parking lots are in Downtown Minneapolis?  I read this article and was brought back to these brief moments I have when I drive by them, thinking, “$7, $10, $6, $5…. and they’re all half empty!”  Isn’t this the truth?  These are prime locations for urban development or park land – areas that could help make Downtown Minneapolis a stunning, more desirable place!

According to the Star Tribune, a city map shows 140 scattered lots downtown, (if not more) from the Metrodome to the Mississippi – 5th Avenue in particular.  The city is hoping that the new Vikings Stadium will allow for more development on these parking lots and better connect the east and west sides of downtown.  The city’s master plan is hoping to eventually create more of a so-called “complete community” composed of houses, offices, shops, and parks!  After receiving a recent grant, a consultant will be hired to examine alternate tax structures, leading to development strategies, and a report hopefully out by 2013.  It will be interesting to see what will become of Downtown Minneapolis!

-LaTasha Schenfisch, Marketing Coordinator

DT Minneapolis Parking Lot

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