I have noticed more and more, when I sit down with clients to find out the reason for choosing to live in downtown Minneapolis over the burbs a big issue that comes up is: Transportation Costs.  As gas prices trend upward it has struck a nerve with Buyers and the market is responding.  We are seeing much more Buyer and Seller activity within the downtown core than anywhere else in the market right now and to be honest I don’t see this changing anytime soon.  In the past Buyers lived the urban life for a variety of reasons.  Now Buyers are being lured into city living now for some very specific economic reasons-transportation costs.  It is universally accepted that low gas prices-while they move up and down a bit-are a thing of the past in our country.  As this happens I see more Buyer’s taking a step back and asking a serious question: How much time and money do I want to spend commuting?

One of the latest editions to the Minneapolis skyline is set to open soon, the Hotel Ivy+Residences at 201 S. 11th St. on Feb. 13, featuring a spa and the “modern Americana” restaurant Porter & Frye.

The hotel’s 136 rooms have limestone bathrooms, 400-thread-count Italian linens and in-room video games.

Porter & Frye is located in the ground floor of the old Ivy tower, which most recently served as an office building until the heating system failed in 1993.

The project unveiling wraps up a two-year construction schedule. The $47 million project is nearly 90% sold at the IVY, and closings are scheduled to start this winter.