{"id":2257,"date":"2014-02-14T15:07:03","date_gmt":"2014-02-14T20:07:03","guid":{"rendered":"https:\/\/www.myparkingpermit.com\/blog\/?p=2257"},"modified":"2026-03-30T07:07:08","modified_gmt":"2026-03-30T11:07:08","slug":"minneapolis-condo-project-stalls-parking-issues","status":"publish","type":"post","link":"https:\/\/www.myparkingpermit.com/blog\/minneapolis-condo-project-stalls-parking-issues\/","title":{"rendered":"Minneapolis condo project stalls over parking issues"},"content":{"rendered":"

In a continuing sign that the U.S. economy is reviving, Minnesota-based developer Jim Stanton dusted off plans for a large condo project for downtown Minneapolis that he initially proposed in 2005. But now it\u2019s parking issues<\/a>\u00a0\u2014 not the crash of the housing market \u2014 that could stall the veteran developer\u2019s ambitious plans.<\/p>\n

\"Hennepin<\/a>

Minneapolis’s beautiful Hennepin Bridge over the Mississippi. A nearby condo project has been killed by parking maximums. From Shawn Hogendorf<\/a>.<\/p><\/div>\n

What Stanton has in mind: a twenty-story, 360-unit mixed-use building at the corner of Hennepin and Washington avenues. The 1.25-acre site, which the developer has yet to actually purchase, is located near the Minneapolis Central Library and across from a Whole Foods grocery and upscale apartment complex that opened last year. The proposed development, dubbed \u201cThe Eclipse\u201d by Stanton, would be the latest contribution to the fast-growing North Loop neighborhood.<\/p>\n

\u201cThe market in the North Loop year over year had some of the biggest price increases in all of Minneapolis,\u201d said Joe Grunnet of the Downtown Resource Group, which specializes in selling and leasing lofts and condos in the downtown area. \u201cThe neighborhood is on fire \u2014 in a good way.\u201d<\/p>\n

The city may be the wet blanket that puts it out. Regulations call for 1.6 parking spaces per unit; Stanton claims he can\u2019t sell condos at that ratio. Of potential buyers, he says, \u201cMost of these people are empty-nesters, and a lot of them are young professionals, and they may or may not use public transportation, but people want parking stalls.\u201d<\/p>\n

But Stanton, who is 77, may be holding on to outdated ideas about driving trends. According to a report<\/a> published by the U.S. Public Interest Research Groups last spring, Americans are driving fewer and fewer miles. As empty-nesters retire, their commuting days sunset, while the Millenial generation is showing new habits, such as using apps for public transit schedules. Other factors, such as rising gas prices and the possibility of limiting social interactions to the online environment, have also made driving less attractive.<\/p>\n

While it\u2019s not certain that the Planning Commission\u2019s Committee of the Whole, which is scheduled to discuss The Eclipse at its February 20 meeting, will consider such facts as it balances existing city policies around parking with Stanton\u2019s request for a variance, Grunnet believes it would be in Minneapolis\u2019s best interest to support Stanton\u2019s project.<\/p>\n

It would \u201cset the stage for other developers and banks to take a harder look at building owner-occupied again,\u201d he said.<\/p>\n

\u201cI\u2019m the only guy in town building condos,\u201d Stanton echoed. Even as thousands of new apartment units have graced downtown Minneapolis since the boom began in 2011, Stanton has been the only developer active in the for-sale condominium market since the recession.<\/p>\n

At least two officials are supportive of The Eclipse. \u201cIt would be great news for Whole Foods and help fuel additional service-level retail in the North Loop because of the additional buying power of that many residents, said Steve Cramer, CEO of the Downtown Council.<\/p>\n

City council member Jacob Frey (Ward 3), who represents the area, also noted that the project would remove a surface parking lot, \u201cleaving a vibrant urban landscape in its place.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

In a continuing sign that the U.S. economy is reviving, Minnesota-based developer Jim Stanton dusted off plans for a large condo project for downtown Minneapolis that he initially proposed in 2005. But now it\u2019s parking issues\u00a0\u2014 not the crash of the housing market \u2014 that could stall the veteran developer\u2019s ambitious plans. What Stanton has […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,2],"tags":[89,184,185,133],"class_list":["post-2257","post","type-post","status-publish","format-standard","hentry","category-municipal","category-parking","tag-development","tag-minneapolis","tag-minnesota","tag-parking-demand"],"yoast_head":"\nMinneapolis condo project stalls over parking issues \u2022<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.myparkingpermit.com/blog\/minneapolis-condo-project-stalls-parking-issues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Minneapolis condo project stalls over parking issues \u2022\" \/>\n<meta property=\"og:description\" content=\"In a continuing sign that the U.S. economy is reviving, Minnesota-based developer Jim Stanton dusted off plans for a large condo project for downtown Minneapolis that he initially proposed in 2005. 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