Downtown Minneapolis has won the bulk of the attention as a hotbed of residential condo development. Now the Uptown neighborhood is a fast-emerging market for condo developers, but as competition intensifies and the market shifts, many are wondering about the depth of the market.
Stuart Ackerberg, president of the Minneapolis-based Ackerberg Group, has two developments in the works that will bring more than 200 units of new housing to Uptown - an unnamed, mixed-use development with 165 condo units and Lumen on Lagoon, a 44-unit project at Lagoon and Emerson avenues.
"We see Uptown as really different than downtown, just given the inherent amenities that are already existing in and around Uptown. It's truly an urban community. For someone that truly wants urban living, Uptown is the best option," Ackerberg said. "In Uptown, there's been very few new housing options available for a long, long time."