Tuesday, February 18, 2025

Significant Construction Projects Completed in 2024

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As Minnesota construction businesses entered 2024, they expressed cautious optimism amidst mixed sentiments about market conditions, with a slight decrease in the number predicting declines from 32% to 25% compared to the previous year. While concerns about construction labor costs, inflation, and workforce availability loomed, there was a generally positive outlook on project funding and technological advancements. In the backdrop of this uncertainty, a series of significant construction projects were completed throughout the year, including “The Cubes at French Lakes,” the state’s largest speculative industrial facility; “North Loop Green,” a $243 million mixed-use development in Minneapolis; and “Canvas Apartments,” offering affordable housing options. Additional noteworthy projects included the Lakeville Specialty Center, Interstate 90 improvements, and the transformative redevelopment of the Northstar Center into workforce housing, reflecting a dynamic year for Minnesota’s construction landscape.

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