Where Are People Moving In Downtown Minneapolis? An Inside Look at the Hot Spots.
Explore the residential landscape of Downtown Minneapolis and find out which areas are drawing in the most new residents. Discover why the Downtown East, North Loop, and Lower Northeast neighborhoods have seen such an influx of people and what this means for downtown development.
As Downtown Minneapolis continues to grow, it is becoming increasingly clear that people are continuing to move in. The number of downtown residents has risen 5.6% year-over-year, indicating a steady influx of new inhabitants. But where are all these newcomers settling? This article explores the downtown Minneapolis residential landscape and delves into which locations are luring in the most new residents.
The Downtown East neighborhood is a prime example of where many are flocking to – with an astonishing 97.7% surge in its population from 4,938 to 9,761 between 2010 and 2021. In February 2021, architectural firm Kraus-Anderson finished construction on a 16-story apartment tower in this area – signaling a major draw for new residents. This trend is further corroborated by data from the Minneapolis Downtown Council, which shows a steady rise in population in this area.
The North Loop, too, has seen an influx of new residents. A former industrial district turned trendy neighborhood, this once-dormant area is now a major destination for culinary exploration and entertainment. Over the course of 11 years, North Loop's population skyrocketed by 79%, surging from 4,291 to 7,679 inhabitants.
In addition to the North Loop, the Lower Northeast area is another area that has seen an increase in population. This area is characterized by its mix of old and new buildings, art galleries, green spaces, and breweries. The data reveals that the population has increased from 7,137 to 9,243 since 2010 – a growth of 29.5%.
Overall, downtown Minneapolis is a hub of activity and development. As new developments continue to sprout up and existing communities expand, it will be interesting to see where precisely future residents decide to move. For now, one thing is certain: the downtown area of Minneapolis is vibrant and on the rise.
Data sourced from: https://tcbmag.com/votebestbiz/
