Will “Minneapolis 2040” Turn the City Into Houston? Or Maybe Mumbai?

(Just a Little) Recreational Reading for Policy Wonks

[Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.]

I’m sure I’m not the only Minneapolis Realtor who’s now fielding questions from concerned clients about “Minneapolis 2040” — the still-draft stage plan to increase the city’s long-term density and manage future growth.

In general, the inquiries divide into two, opposing categories: 1) homeowners worried that increased density is going to compromise their property values, if not their quality of life; and 2) homeowners who want to know if Minneapolis 2040 will let them tear down their single family home and put up an office tower or some such on their block — or sell to a developer who will.

Threat or Opportunity?

While I’m hardly an expert at this point, my gut tells me that both camps are likely overestimating the impact of the final, approved Plan.

In the mean time, if you want to educate yourself, here’s a link to the latest version of Minneapolis 2040:

Minneapolis 2040 – The City’s Draft Comprehensive Plan for Metropolitan Council Review, With Appendices (PDF, 1,108 pages)

One final observation, given the Plan’s sheer heft: few non-wonks have actually waded through all of the particulars.

As a result, there’s a lot of misinformation (and perhaps a little hysteria) out there at the moment . . .



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