On Thursday, August 15, the new Rafter apartment building had its grand opening event. With fine hors-d’œuvres and libations, the parties gathered to celebrate the completion of another real estate development. It is said that the Rafter project is “named in honor of a group, or “rafter,” of wild turkeys known to call Northeast Minneapolis […]
Iron Clad broke ground on October 23, 2017, and now nearly 18 months later, the project is close to completion. According to a leasing spokesperson, the 166 market-rate apartments and 153-key hotel will be opening in “mid-June” with retail opening up later. As of April 15, the development has no signed leases for retail space. […]
The new Rafter development will likely be one of the last large apartment buildings finished in Minneapolis before inclusionary zoning requires new construction to include affordable apartments. Pricing is out for units ranging from a 442 square-foot studio for $1,270 ($2.87 per square-foot) to a 2733square-foot 3-bed for $9,970 ($3.65 per square-foot). In other words, if they don’t […]
It’s no secret that Minneapolis is experiencing both an apartment boom and condo dearth at the same time, which begs the question, “why aren’t condos being built at the same rate as apartments?” According to many, Minnesota’s construction defect laws are to blame. The rhetoric usually claims Minnesota has unique construction defect laws for condos; it’s said […]