‘It looks like a war zone:’ Minneapolis developers shy away from city projects after unrest and calls to ‘defund the police’
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(Worthy News) – Developers have long had challenges navigating the aggressively liberal agenda of the Minneapolis City Council, but for some, the move to cut police funding was the last straw.
Since violent unrest broke out over the summer, local developer Kelly Doran said he estimates around 10% to 20% vacancies in downtown apartment buildings that had just 2% to 3% vacancies in the last five years. Newer, modern buildings in the downtown area are also at 20% vacancy rates.
As the city grapples with rising crime rates, along with droves of police retirements, and a council vote to reimagine parts of traditional public safety, Doran believes a full economic recovery for Minneapolis will be slow. [ Source: Washington Examiner (Read More…) ]
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