North Loop Neighborhood

[twincitizen]

That sale price really confuses me, too... I'd love to learn more about it Twincitizen!

Here you have it folks: http://www.bizjournals.com/twincities/b ... lofty.html

Goldman Sachs is making a big bet on the North Loop continuing to develop its remaining surface parking lots, leaving this parking garage as basically the only game in town for bar/restaurant visitors (and daytime users of course). Expect parking prices to go up as surface parking in the area dwindles.

Note: surface parking in North Loop is far from extinct. In fact, I'd estimate it still makes up at least 25% of the land use, despite the massive building boom underway.

[RailBaronYarr]

Even though they're still there, Goldman is probably right. The city should be prepared to start upping the on-street rates as off-street supply dwindles and/or becomes more for residential use. It's shocking how cheap the rates are there, and that on Friday/Saturday nights it's still free (after 6 I think?)

[mattaudio]

The part of the ramp facing Washington has a level grade. Would be relatively easy to convert some of that ground level parking to leasable square footage... small storefronts would be great at some point. All in all, not a bad ramp, especially since access is on 10th.

[xandrex]

Even though they're still there, Goldman is probably right. The city should be prepared to start upping the on-street rates as off-street supply dwindles and/or becomes more for residential use. It's shocking how cheap the rates are there, and that on Friday/Saturday nights it's still free (after 6 I think?)

It's cheap in part because demand is low. I frequently visit friends there after the meters aren't monitored (5 p.m. M-F where I usually go) and the streets are mostly empty. Even during the work day it's still easy to find a spot. At this point, I can't quite see a reason to jack up rates during non-event times. They go up during Twins games, so it's already collecting that (very little) revenue.

[MNdible]

Based on my last visit, I believe that most meters in the area are now enforced until 10pm, although the hourly cost is very low for non-event times (quarter for an hour, I think).

[RailBaronYarr]

Even though they're still there, Goldman is probably right. The city should be prepared to start upping the on-street rates as off-street supply dwindles and/or becomes more for residential use. It's shocking how cheap the rates are there, and that on Friday/Saturday nights it's still free (after 6 I think?)

It's cheap in part because demand is low. I frequently visit friends there after the meters aren't monitored (5 p.m. M-F where I usually go) and the streets are mostly empty. Even during the work day it's still easy to find a spot. At this point, I can't quite see a reason to jack up rates during non-event times. They go up during Twins games, so it's already collecting that (very little) revenue.

I meant as lots open to the public dry up. I'm not saying the city parking management isn't on top of it already, just pointing it out. I'll agree demand for on-street spaces is low right now on non-event nights (went to visit a former co-worker at 7 PM on Saturday and pulled into one of many spaces on 1st St (and meters weren't enforced). I think people gravitate to parking lots/ramps where possible because they feel safer and are easier to park their cars. Just a thought.

[xandrex]

Even though they're still there, Goldman is probably right. The city should be prepared to start upping the on-street rates as off-street supply dwindles and/or becomes more for residential use. It's shocking how cheap the rates are there, and that on Friday/Saturday nights it's still free (after 6 I think?)

It's cheap in part because demand is low. I frequently visit friends there after the meters aren't monitored (5 p.m. M-F where I usually go) and the streets are mostly empty. Even during the work day it's still easy to find a spot. At this point, I can't quite see a reason to jack up rates during non-event times. They go up during Twins games, so it's already collecting that (very little) revenue.

I meant as lots open to the public dry up. I'm not saying the city parking management isn't on top of it already, just pointing it out. I'll agree demand for on-street spaces is low right now on non-event nights (went to visit a former co-worker at 7 PM on Saturday and pulled into one of many spaces on 1st St (and meters weren't enforced). I think people gravitate to parking lots/ramps where possible because they feel safer and are easier to park their cars. Just a thought.

No doubt they'll need to eventually. It probably does help that there is abundant underground parking for (generally higher-income) residents. Of all my friends in the North Loop, not one of them parks on the street, meaning it's mostly only people visiting.

[ord2msp]

Minneapolis Parking Meter Map, FYI

http://www2.mplsparking.com/CurrentMeterMap.pdf

[Aville_37]

New retail moving in...http://tcbmag.com/News/Recent-News/2014 ... ilers-Ente

Checked out both store websites - way over my price range. Even in the North Loop - don't see these types of stores surviving long. Seem more geared towards the 50th & France crowd but could be wrong.

[jet777]

Shinola exists in the Cass Corridor in Detroit and brings a very steady stream of young suburbanites downtown because it's unique and not available at every mall. If this concept fails in the North Loop it would be crushing for the idea that the area is capable of supporting high end independent retail. Which it already is doing in many ways, so it wouldn't surprise me to see it succeed.

Perhaps a better question is the effect it will have on Handsome, who I believe already sell Shinola's bikes. Hopefully this was not a surprise to them.

[talindsay]

I just can't believe they're trying to turn Shinola into a high-end brand. Perhaps it speaks to my background but every time I hear it I think of Steve Martin in "The Jerk":

[Aville_37]

Another retailer moving in: Edina's Grethen House

[min-chi-cbus]

Wow, weird! Why is North Loop becoming the next 50th & France? It's mostly YUPPY's, right? I'm surprised there is enough disposable income in this neighborhood to support those kind of retailers. Some of these retailers also have a regional or even super-regional draw, which makes the location all-the-more surprising to me. How cool would it be though to have the Midwest's cousin to the Miracle Mile in Chicago, in terms of high-end retail?

Is this retail popping up all along one particular street, or is it scattered?

[Tyler]

Never been there, but from their website I think this will fit it fine. It isn't Talbots. And north loop isn't anything like magnificent mile. Maybe something like this, in it's wildest dreams: https://maps.google.com/maps?q=Damen+%2 ... 6,,0,15.06

[Aville_37]

From The Downtown Journal re North Loop retail scene:

http://www.journalmpls.com/news-feed/in ... tail-scene

[John]

Yes Wicker Park in Chicago is an awesome walkable Chicago neighborhood. If most of the vacant lots in the North Loop are filled and designed with strong retail street frontage that would not be a pipe dream but reality. We are well on our way...

[twincitizen]

3-story shipping container reuse office building proposed for vacant parcel next to Bookmen Stacks. Images courtesy of Journal Mpls' Ben Johson. No story yet, just saw these on Twitter. Depending on what zoning approvals they need, I'd expect some opposition from the adjacent condo owners. If the zoning allows it...there won't be much that could be done to stop it.

I assume that open space they're proposing would be quasi-public, to avoid the park dedication fee.

This parcel: http://gis.co.hennepin.mn.us/property/m ... 2924130344

[Andrew_F]

Interesting. The previous proposal for the site involved reuse of former industrial materials as well. Same owner/developer I assume?

[Minneboy]

I rather like it. Wouldn't mind it in my backyard at all (reference to Nimby's).

[Nathan]

that. is. amazing.