The Twin Cities’ top home sale of 2020, ringing in at $8.295 million, is a five-bedroom, six-bath, 8,069-square-foot custom home completed in 2018 at 20760 Linwood Road in Deephaven and boasting more than 100 feet of Lake Minnetonka waterfront. (Photo: Anne Bretts/Special to Finance & Commerce)
As we prepare to bid 2020 goodbye and good riddance, there are a few areas to celebrate. One of them has been the remarkable resiliency of the housing market. Stalled for a few weeks when COVID-19 first hit last spring, sales roared back.
“The real driver was interest rates,” said John T. Wanninger of Lakes Sotheby’s International Realty. Low interest, coupled with families trying to work, play and study in the same place has encouraged buyers to buy big homes and add amenities.
$1.985M home on Enchanted Island offers panoramic water views Cape Cod-inspired house on Lake Minnetonka has panoramic water views. December 21, 2020 5:33am Text size Copy shortlink:
According to local lore, Enchanted Island in Lake Minnetonka was sacred ground to Native people who practiced healing ceremonies there before white settlers arrived.
The island today feels spiritual and magical, said Cynthia Winrich-Poupard, who owns a home on its secluded tip. It exudes that sense of peace and healing.
Her Cape Cod-inspired home, designed by the late Keith Waters, was built in 2000 shortly before setback requirements on Lake Minnetonka were increased, said Paul Johnson, agent with Lakes Sotheby s Realty. The house sits just 41 feet from the water, creating a unique interaction with the lake. With large windows, including a curved wall of windows that echo the curve of the shoreline just beyond, the house brin
It looks like a war zone: Minneapolis developers shy away from city projects after unrest and calls to defund the police Print this article
Developers have long had challenges navigating the aggressively liberal agenda of the Minneapolis City Council, but for some, the move to cut police funding was the last straw.
Since violent unrest broke out over the summer, local developer Kelly Doran said he estimates around 10% to 20% vacancies in downtown apartment buildings that had just 2% to 3% vacancies in the last five years. Newer, modern buildings in the downtown area are also at 20% vacancy rates.
As the city grapples with rising crime rates, along with droves of police retirements, and a council vote to reimagine parts of traditional public safety, Doran believes a full economic recovery for Minneapolis will be slow.