For the 14th year in a row the city of Minneapolis has surpassed $1 billion in construction permits. Development last year saw the construction of more than a hundred new single-family homes and duplexes across the city.
Minneapolis Mayor Jacob Frey says $1.8 billion put into the city by developers helped to make those important investments possible.
"If you look nationwide, Minneapolis is recognized as the leader in housing policy," says Frey. "We are presently producing eight and a half times the amount of deeply affordable housing that we were since before I took office, and we're only making sure that that work grows out from here."
The list of the largest construction projects include, the reconstruction of City Hall, a new pavilion at Abbot Northwestern Hospital, and construction on the new North Loop Green high-rise office building.
The milestone also marks the city's continued stake in housing developments.
City Council President Elliot Payne says the investments in 2024 showcases the city taking a step in the right direction when it comes to equitable housing policy.
"We're going to continue to be engaged with our community, following that policy, looking at the needs of our community to make sure that Minneapolis is a place where we can have everyone living and thriving," explains Payne.
The city approved over 16,000 residential building permits last year. That included construction on over 600 new apartment units.