Tag Archives: Plymouth

Twin Cities Rental Market is booming: Plymouth Park Place Apts Sold for $54.7million


This one is a big enough sale to say:  WOW.

Park Place Apartments Plymouth, MN (link to Oodle)

Plymouth Park Place Apartments just sold to a South Carolina company for $54.7million.  The extremely low vacancy rates on rentals right now and the low property prices make it a good time to invest, especially in Single Family rentals.

A friend of mine, Aaron Clarey who is an Economist extraordinaire, writer (Behind to Housing Crash) and blogger – programmed a nice Excel worksheet for me to analyze investment property returns.  You can download it on the right sidebar or here:

download

 Download and use to analyze potential returns on buying rental properties.

 This Story is from Minneapolis/St Paul Business Journal

The 500-unit Park Place Apartments in Plymouth has been sold for $54.7 million to a South Carolina company.

The four-building complex was bought byGreystar Real Estate Partners    of Charleston, S.C., Finance & Commercereported. The previous owner was Dallas-based Park Place Portfolio Inc., an entity connected to Atlanta-based Invesco    .

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Everyone’s a Winner in CNN’s Best Place to Live


CNN

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Everyone’s a Winner in CNN”s Money Magazine Best Places to Live.  I was really impressed when the City of Plymouth won this, then every year after that it seems like a new town/city in Minneapolis wins the award.  This year Chanhassen won 10th Place for best place to live along with Arden Hills in 14th place.

See the ranking for Minnesota:

Do you believe CNN’ Money Magazine’s Best Places to live list means anything anymore?  I am curious on perceptions of this list, please take the anonymous poll.  It’s not scientific, so have some fun with it.

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Plymouth, MN Mosque and Islamic Center Approved for Old Post Office Site


Plymouth, MN Mosque and Islamic Center Approved for Old Post Office Site.

For those of who you who had interest in the Plymouth Mosque.  It was unanimously approved by the City Council last night.

I was tied up on appointments all day yesterday and was unable to get the news out on this update.  John Murphy did a great follow up to this Plymouth Mosque City Council meeting.

 

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City of Plymouth Mosque. Zoning


This mosque proposal has certainly gotten a lot of attention, so I thought I would gather some general information on this.  unfortunately the Minutes from the Planning Commission meeting are not yet published online, so I will go with what is available right now.

  The property the mosque is looking at building on is located on the old Post Office site across from City Hall.  It consists of approx 2.54 acres and is listed for sale at $800,000.

The current Zoning Map, the Property is CC-P (City Center Public)  Based on the City of Plymouth‘s Zoning and their Zoning Guidelines for CC-P, rezoning wouldn’t have to take place – it depends on how you define Community Center.  According to Plymouth’s Zoning, Community Center is defined as:

A Building or room or group of rooms within a building designed specifically as a gathering place for the general public or for a specific sement of the general public and operated on a non-profit basis.  (source: Plymouth Zoning Ordinance)

That sounds to me like a religious gathering place would be permitted by the zoning. (Church, Synagogue, Temple and Mosque – did I leave anyone out?).

Here is the Zoning Guidelines for CC-P in Plymouth:  (can also be found on Plymouth’s website)

21475.05. PERMITTED USES:

The following are permitted uses within the CC District:

Subd. 1.

CC-P.

(a) Amphitheaters.

(b) Bus/transit stations or terminals without vehicle storage.

(c) Commercial recreation, indoor (e.g., bowling alleys, roller rinks).

(d) Community centers.

(e) Essential services not including structures, except those requiring administrative permits or conditional use permits pursuant to Section 21160 of this Chapter.

(f) Governmental and public utility (essential service) buildings and structures, including public works type facilities, excluding outdoor storage.

(g) Parks and recreational facilities, structures and buildings.

(h) Publicly owned civic or cultural buildings such as libraries, city offices, auditoriums, public administration buildings and historical developments.

(i) Sports and fitness clubs.

(Amended by Ord. No. 2002-32, 11/26/02) (Amended by Ord. No. 2005-01, 01/11/05) (Amended by Ord. No. 2006-04, 02/07/06) (Amended by Ord. No. 2007-28, 11/13/07) (Amended by Ord. No. 2009-07, 05/12/09)

The City does not exactly have a track record of following their “Zoning”.  They have time and again turned people down on proposals that fit within in the zoning requirements by coming up with other “objections” that can’t always be quantified.  A recent disregard for property rights was the denial of Wal-Mart’s proposal on 169 and 9 recently, they fit within the zoning requirements and were still turned down.  So it is anyones guess what will happen with this proposal.

I am a huge proponent of Property Rights.  If the use fits within in the City’s Zoning laws, than it should be permitted.  Whether or not neighbors object it, and whether or not I object to it – it is the Owner’s Rights to do with their land what they see fit (within the law – Zoning being one of them)

If people really object to the mosque or Wal-Mart being built, then they should buy the property and do with it what they think should be put there.

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Plymouth mosque plan goes forward despite some tension


Plymouth City Council will be hearing a proposal for the old Post Office site across from City Hall in Plymouth. 

Plymouth mosque plan goes forward despite some tension

by Rupa Shenoy, Minnesota Public Radio

August 18, 2011

 

Plymouth, Minn. — A proposal to house a mosque in a soon-to-be-closed suburban post office is now heading to the Plymouth City Council, after being reviewed by the city’s planning commission Wednesday night.

About 200 people attended the hearing, which commissioners tried to limit to a discussion about logistics such as parking spaces, access and building use.

But of the 16 or so people who spoke before the commission, two raised objections to the mosque on religious grounds, and the atmosphere sometimes grew heated.

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Minneapolis property taxes, not so bad??


City hall of Minneapolis, Minnesota (USA).

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More on the Minneapolis Property Tax hike…  Here is a related article on the subject. 

Has anyone stopped to ask, what am I getting for an additional 2% or 4.7% in property taxes?  Are we getting more services?  Is there value in paying more?  As a consumer we have the freedom of choice on whether or not to buy the product.  As a taxpayer, the only freedom we have is to VOTE.

The owner of a $200,000 home in Minneapolis will pay $3,142 in property taxes in 2011. That’s far more than some Hennepin County neighbors, like Edina ($2,275), Plymouth ($2,315) and Orono ($1,860). But a Minneapolis tax bill is less than in Brooklyn Center, where a $200,000 homeowner will pay $3,340 in 2011. 

In 2010, the most recent year of data collected by the LMC, only 15 of 142 metro municipalities had higher property taxes than Minneapolis. 

Since that data was calculated, however, property taxes in Minneapolis have increased by 4.7 percent, though homeowners were hit harder. The owner of a $200,000 Minneapolis home in 2010 paid $2,725 in property taxes, compared to $3,142 in 2011.   Read Full Story from the Downtown Journal

What about for the homeowners who are struggling to make ends meet with fuel and food prices stretching their budgets to a maximum.  Did they all get a pay increase this year where they can easily afford additional monthly property tax payments?

 

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