JLL Minneapolis – St. Paul Snapshots:
Transit-adjacent development by the numbers
• As the METRO transit Southwest Light Rail (SWLRT) project nears its construction start date in Fall 2017, we are watching the Southwest suburbs and how transit-oriented development will shape its economy.
• Residential investment has been the story so far along the Blue and Green Lines, where new apartment development made up over 70 percent of all projects within one half-mile of the 37 transit stations.
• Current conditions differ along the proposed SWLRT Line, where the development focus has been split between commercial and multifamily development. Looking forward, 1,368 new apartment units are either planned or proposed along the SWLRT corridor. We expect more industrial and office developments to hit the pipeline when construction begins.
Source: JLL Research, CoStar, Esri
Click to download JLL Minneapolis – St. Paul Snapshot: April 17, 2017