Cost per unit (new construction) in Minneapolis

[Tom Henderson]

Hello Team! Properties are so expensive right now that I’m looking to understand cost/unit to build a multi family on an empty lot. Lot is in Minneapolis. Looking for resources on estimating this. I’ve heard everything from $120/unit to $175 per square foot. Thanks for the help and suggestions. Realize this is dependent on the location (Minnesota) but any info is appreciated. Also interested in referrals too, for the right contractor or PM. Tom

[Jordan Moorhead]

I heard up to $250 sq/ft from as low as $125 sq/ft.

I haven’t actually talked to anyone that’s done it either.

There must be a reason more people aren’t. If it were a viable option I bet we would see more.

I’m sure dealing with the government doesn’t make it easy to get the job done either.