Here’s what industry professionals are saying about the Twin Cities apartment market
Image via Creative Commons 1.0/Groveland Media
A year after the pandemic led to widespread closures and a seismic shift in the workplace, we’ve reached out to local Twin Cities real estate industry professionals to highlight some of the key themes from this past year, as well as a look ahead at what’s in store for the coming months. Despite the hardship many faced in 2020, the outlook remains optimistic for the next couple of years as vaccinations increase and cities begin to slowly, but surely, open back up for business.
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The tax credit Minnesota developers use in the rehabilitation of historic buildings is set to expire this summer, but a new bill would extend its life by eight years.
The extension of the state’s historic tax credit is included in the House’s tax omnibus bill, which was introduced Monday. Supporters of the bill are hopeful an extension will be achieved but hold concerns around the upcoming Senate version of the bill.
The Minnesota Historic Structure Rehabilitation Tax Credit provides a 20% tax credit for qualifying expenses related to the development of a certified historic building. The project must retain specific features of the structure, as well as produce income to qualify.
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In December, Sherman Associates announced that Chris Sherman would take over as president of the company founded by his father. A video of the interview is