Article by: JIM BUCHTA

Low supply and high demand in Minneapolis are spurring a revived building boom.

It was only five years ago that downtown Minneapolis was awash in condominiums, but one of the last condo developments to break ground was in 2007 — and that building has just a sole unit left.

Yes, downtown has become one of the tightest condo markets in the Twin Cities metro area, with fewer than 150 units available for sale at a time when demand for urban living continues to grow every year.

Several developers are taking notice and are ready to infuse downtown Minneapolis with new units. One of the first projects will come from Jim Stanton, a veteran developer who plans to build the Park Vista in the historic Mill District. The 12-story tower will eventually bring 169 new condos to the market.

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Downtown condos back as hot property