Minneapolis Construction Boom

The beautiful city of Minneapolis is getting an unplanned makeover. The has been record breaking construction activity within the city of Minneapolis led by the new Minnesota Vikings stadium which is currently under construction in downtown Minneapolis.

According to MPR News, Minneapolis had a record $2 billion in construction during the 2014 calendar year. This large number is up a whopping 60% from 2013’s number.

ConstructionObviously a new football stadium has a lot to do with this huge number. After all, it’s not every year that you build a new state of the art stadium that seats 40,000 plus people. The Vikings stadium takes up just of 50% of the record $2 billion in construction at an estimate of $1.1 billion. Another large chunk of the $2 billion will be as a result of the construction of Downtown East development which is led by Ryan Companies. You can see the vision for this project here.  Those two projects alone put Minneapolis at $1.5 billion or 75% of the total for 2014.

Construction of the stadium is just about one third of the way complete. The stadium is not set to be complete until 2016 so it seems as though they are on pace to finish on time. With just over half of all the necessary concrete poured, the stadium will begin installing glass in 2015.

While it may seem like a ton of money for Minneapolis to fund on its own, not to worry, the city is receiving public funding for construction costs on all projects. With both the Vikings stadium and the Downtown East development set to complete in 2016, the construction doesn’t stop there. With more people looking to move to Minneapolis, more residential buildings are going up as well. The construction boom has helped Minneapolis economy as it has created more jobs all around. The Vikings have had a reported 700 local construction workers on site everyday and that number expects to be pushed to 1,100 in 2015.

For more on this interesting boom in Minneapolis, check out this article here.