$1.2 Billion in Real Estate Development Drawn to Twin Cities

central corridor twin citiesThe Central Corridor light rail line of the Twin Cities has attracted over $1.2 billion in development.  This development is even more poignant because it occurred before the light rail line has even begun carrying passengers (2014).

“Eighteen residential and commercial/retail developments worth more than $275 million began construction or entered the planning stage in 2012 along the line. The projects include nearly 2,300 housing units and more than 109,000 square feet of commercial/retail space. That’s in addition to the nearly 40 developments worth more than $944 million that include 5,100 housing units and 7.1 million square feet of space that opened, were under construction or in the planning stage in 2011.”

Furthermore, in early December, the Metropolitan Council awarded transit-oriented development grants to ignite job growth, housing and economic development along the light rail corridor.

To read more, see the article by Progressive Railroading Daily News.