A proposal to build a $975 million Vikings stadium received its first hearing in front of a Senate committee on Wednesday, but the committee indefinitely postponed a vote on it.
Real Estate + Development
Barbara Puro and co-conspirators-several of whom have been sentenced for their role in the crime-operated a mortgage fraud scheme that allegedly involved more than $10 million in fraudulent loans.
Robert Dufresne of Cottage Grove, who admitted to defrauding investors out of more than $5 million in a multi-state house-flipping scheme, has been sentenced to eight years in prison.
Under a just-unveiled plan for "a new people's stadium" on the Metrodome site, the Vikings would pay for close to half of the building cost and $13 million of the $20.5 million in annual operating costs.
Construction will begin in June on the new $7.5 million outdoor stadium, which will include a 2,300-square-foot grandstand, grass seating, and various other upgrades.
The redevelopment of the Wayzata Bay Center has seen significant delays, but the initial phase of construction is now slated to begin in May.
The southwest Twin Cities suburb will have three companies-Imagine! Print Solutions, SanMar Corporation, and Trystar-constructing facilities in the near future, which will bring in hundreds of jobs.
Wayzata-based HomeVisor, which launched earlier this month, helps home buyers and sellers find their ideal Realtor.
Carlson Real Estate Company is working with an investment banking firm to assist it in exploring "strategic alternatives" regarding its real estate portfolio, which includes a 36-story complex in Minneapolis containing the Radisson Plaza Hotel and Plaza Seven Office Tower.
A recent settlement requires five of the nation's largest banks to pay roughly $25 billion in relief to U.S. homeowners-and Minnesota borrowers are expected to receive up to $280 million under the deal.
The development of Mozaic-a 10-story commercial building in Minneapolis-has been completed and a new parking ramp, public plaza, and bridge connecting the Midtown Greenway bike trail to Uptown are now open.
Despite recent commercial real estate deals, including the $152.9 million sale of the Eagan campus of Blue Cross and Blue Shield of Minnesota, some big office properties in Minnesota remain on the market.
Despite recent commercial real estate deals, including the $152.9 million sale of the Eagan campus of Blue Cross and Blue Shield of Minnesota, some big office properties in Minnesota remain on the market.
Gerald Greenfield was sentenced for helping Brett Thielen, who was executing a mortgage fraud scheme involving a Minneapolis condo building, launder illegal profits.
Through a $25 million redesign, the Hyatt Regency looks to refresh its appeal to business travelers amid a lodging industry recovery.
The long-abandoned Dunwoody Building in south Minneapolis is reportedly set to be converted into a 123-unit apartment complex.
Minnetonka resident Steven Carver, who was a real estate broker and operated Carver & Associates Real Estate in Maple Grove, allegedly orchestrated a kickback scheme through which lenders lost $3.3 million and that resulted in the foreclosure of 18 homes.
After being hit hard by the recession, once-prominent developer Opus Group is slowly making a comeback.