When Homeowners Near Good Transit Refuse to Share the Neighborhood

Nowhere is the upward trend on property values more apparent than in the Lowry Hill East neighborhood, where land values often exceed the value of the structure on the property. One recent example is at 2008 Bryant Ave S., where a developer purchased a duplex for $275,000 near Franklin and Hennepin for the purpose of tearing it down to build a 10-unit apartment building. Nearby neighbors showed up at the Minneapolis Zoning and Planning Committee to rail against the project...

Many who showed up to speak against this apartment project are nearby homeowners, who obviously have no use for an apartment building since they do not rent. Many of them have invested a lot of money to live in large single-family homes in this neighborhood. That’s fine, as a diversity of housing stock is healthy for a neighborhood.

But when a single-family home is on a lot where many people could live but do not, we need to acknowledge this fact: amid the cries of gentrification from well off homeowners, it’s these houses, not new apartments, which are luxury housing. It is a luxury to live in a 6-bedroom, 3-bathroom 3,000 square foot house, especially one that is close to downtown and in a safe and walkable neighborhood. I don’t begrudge it, and there’s nothing wrong with it. But it should be acknowledged.