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Where is There Affordable New Construction in Minneapolis???
First, let’s define affordable. Housing affordability means that an index of 120 means the median household income was 120% of what is needed to qualify for the median-priced home. The higher number, the more affordable. The average price for 2017 was $271,900, with an index of 170. Translated, $271,900 is a comfortable purchase for average incomes.
It seems impossible, but yes, there is new construction in Minneapolis under $330,000. Your first thought is that it might be shoddy, or in the middle of gangland. Not so.   Here’s what’s happening;      the City of Minneapolis designated 100 lots for Green Homes North Project Locations in 2016 to revitalize North Minneapolis. Development always happens in phases, some of those new homes are under construction, or to be built.
What gets interesting is that a separate development, Parkside at Humboldt Greenway, partnered with Greater Minneapolis to build on 65 lots. No one thought that they could bring price and quality together, but they did. Twenty-eight impressive homes have been sold, 22 are occupied, and 6 are under contract.
Parkside offers five floor plans ranging from a two bedroom rambler with 1462 finished square feet, to a two story, 3 bedrooms at 1975 fsf. All have 2+ bathrooms, ... more

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