Hundreds of code violations results in Park Laurel building being condemned, renovation plans by new owners
Minneapolis, MN: A vacant property declared condemned March 20, due to hundreds of code violations, has had the last of its tenants depart.
The Park Laurel apartments, a 96-unit, four-building structure was home to people requiring low-cost living accommodation and assistance, and was one of the few locations left in Minneapolis that offered such low-cost living; though often at the expense of quality living conditions.
The low-cost accommodations had built up years of previous owner decisions that resulted in city and/or tenant requests for repairs being neglected, and accumulating hundreds of code violations that continued to mount each year and with each new owner.
The newest owner is Maven Real Estate Partners. The Chicago-based company purchased the property in 2016 and has provided the city with its intent to renovate the property.
The property follows a trend in Minneapolis of large, rundown buildings being purchased, rehabilitated, and returned to the public as fresh living options; albeit with increased costs of living due to the renovations.
There has been no official statement whether any portion of the rehabbed property will have any units made available as low-cost living options, and the idea of requiring low-cost living accommodations has been a hotly contested point in Minneapolis for years; with no current majority in support of such requirements.
Ascent combines focused research and centralized operations oversight to create innovative outsourced solutions for code enforcement violations, vacant property registration ordinances, property preservation, and other vendor management needs from across the United States.