Moving Up

Minneapolis– Isles/Kenwood/Cedar Lake -3.2%
Lake of the Isles and Cedar Lake have always been among Minneapolis’s most distinctive neighborhoods. What draws most people here? Downtown Minneapolis is within an easy ten-minute car ride or even a twenty-five-minute bike commute. So it’s no surprise that this area is often considered the city’s most appealing. Many houses date back to the early twentieth century—with older Victorian ladies mixing in with a few midcentury modern gems and more contemporary structures. Prices are steep. Well-heeled first-time buyers and couples moving up will pay for that access and charm. But sales figures and assessments show that their investment is safe. Besides the lakes and that easy access to Downtown, the area boasts charming commercial districts at Cedar Lake Road and Penn Avenue South in Bryn Mawr and along Hennepin Avenue in East Isles. “A few years ago, I asked clients what they liked about East Isles, and they said it was being close to that span of Hennepin Avenue, with places like D’Amico and Sons and Kowalski’s right there,” says Cotty Lowry, a long-time neighborhood Realtor known for his billboards near Burch Pharmacy. “The quality of Hennepin Avenue had changed so much without me realizing it.”

Minneapolis–Southwest -2.9%
The Chain of Lakes parks’ walking trails that circle Lake Calhoun and Lake Harriet are easily the most popular in the Twin Cities. Bus lines to downtown are direct and fast. You would have no problem parking your car three days a week without feeling stifled. An engaging architectural mix has elegant Georgian and Tudor–style homes rubbing elbows with more modest bungalows and four-squares. Prices, like those in nearby Isles, are tough for first-time buyers of modest means, but access to amenities offers a dramatic reduction in car use. Some of the city’s best neighborhood restaurants and shops are here, and Uptown and Linden Hills are towns unto themselves. Barton, Harriet, and the new Burroughs Elementary School are among the city’s best public elementary schools; Southwest High School rates high nationally. “Southwest is about more than houses,” says SKY/Sotheby’s International Realty’s Todd Shipman. “It’s about community and culture.”

St. Paul–Mac-Groveland -2.7%
Originally planned in the 1880s by the Macalester College Board of Trustees, most of what is now called Mac–Groveland was built up in the 1920s and ’30s. The result: An engaging architectural mix of houses as well as Macalester College and the University of St. Thomas, genuinely lovely stretches of Summit Avenue, and quick access to Grand Avenue’s complete range of shops and services—not to mention the walking/jogging trails above the Mississippi—continue to make Mac–Groveland a stalwart. Bargains may be few and far between, but first-timers and the moving-up crowd with construction know-how (or cash) will still find an occasional fixer-upper at something resembling a bargain. Once finished, however, a home in Mac–Groveland is a solid bet. “There are also lots of small elementary schools, and that’s a real draw for people—that their kids can walk to school,” says Laura O’Hara, a Realtor with Coldwell Banker Burnet.

St. Paul–Merriam Park -7.4%
North across Marshall Avenue to east of the Town & Country Club, Merriam Park still offers an appealing range of housing stock. Its historic neighborhoods, smack between the downtowns of Minneapolis and St. Paul, are tremendously appealing. But the general vibe is energetic. “There’s a little bit of college life, a little bit of urban life, a little of everything,” says Coldwell Banker Burnet agent Lolly Salmen. “There are all kinds of college kids who’ve gone to St. Thomas who want to settle here, so you have a young element. But then you have empty nesters. There isn’t any one buyer more than the rest. That’s what makes it great: You have singles, couples, and families all here for the great quality of life.”

Edina +0.1%
The Twin Cities’ most sniggered-at upscale suburb—Every Day I Need Attention—takes the jokes as a sign of envy, and likes it that way. Immaculately clean (the streets are swept once every week and plowed seconds after the first flake hits the ground), Edina has nurtured public schools with a national reputation for scholastic excellence. Empty nesters have ample choices within easy access to the 50th and France business district and Southdale. Prices for everything else are stiff (White Oak, Country Club, Highland) and flat-out stupendous (Rolling Green). But no one disputes the quality of most of the housing stock and superb city services. Every imaginable sport has a first-class venue, including, of course, Interlachen and Edina Country Club. Edina has earned its place as a first-rate first-ring suburb. “I often make the comment that Edina is a city that works,” adds Coldwell Banker Burnet star agent Barry Berg. “Schools here are a top draw in most people’s books. They stack up very, very well against any other public or private system in the state.”

Plymouth +4%
Rolling hills, lakes (including Lake Minnetonka, a five-minute drive away), and developments that tend to include larger residential lots have made Plymouth one of Minneapolis’s most popular second-ring suburbs. Many neighborhoods were designed to slow and discourage traffic. Driving into downtown Minneapolis can be a chore, but every imaginable amenity is accessible along Highway 169 and within its neighborhoods. Extensive trail networks traverse much of the city, and the schools—Wayzata High School is a spectacular piece of architecture—are among the top selling points, says Coldwell Banker Burnet Realtor Mark Geier. Word of mouth helps too, he says: “Most buyers have been referred by someone familiar with the community, from current residents saying, ‘This is what we like about Plymouth.’”

Chanhassen +4.8%
The Minnesota Landscape Arboretum and the eponymous dinner theater aside, most Twin Citians aren’t all that aware of Chanhassen’s story. “I remember once thinking that Chanhassen was on the edge of the world,” says Coldwell Banker Burnet real estate agent Sharla Stafford. But the agent and her family have now joined the 25,000-plus residents of the growing community. The drive into Minneapolis is serious. But if you don’t have to do it, or only do it a couple of times a week, Chanhassen and its immediate environs—Eden Prairie Center, Costco!—will cover 90 percent of what you need. “Once you get people to Chanhassen, they just love it,” says Stafford. The top selling points? Five city parks, twelve lakes, and lots of high bang-for-your-buck homes. There are plenty of housing choices for every buyer, and a new state-of-the-art high school set to open in the fall of 2009 is the icing on the cake.

Sunfish Lake N/A
OK, it helps to have a spare million or two somewhere in the family pipeline, but enclavelike Sunfish Lake is doing just fine, thank you. Large wooded lots and a central location make this tiny burb a unique spot. “A rural setting in an urban area—you don’t find that just anywhere,” says agent Dick Braun with Coldwell Banker Burnet. Sunfish Lake lacks commercial development and there’s little in the way of new construction, but renovations of existing homes (a few very high-ticket jobs have bumped up the average) keep the town’s value comfortably on track.

Woodbury -5.2%
What Eden Prairie is to the west side, sprawling Woodbury is to the east metro, and, all things considered, Woodbury is weathering the storm a bit better. Classic 1990s-era third-tier suburbia and grinding commutes to either downtown are offset by ample services and amenities and a wide range of price options. Serious shoppers may have been taken by surprise when Woodbury Lakes, Minnesota’s second open-air “lifestyle center,” landed Minnesota’s first and thus far only Z Gallerie, among other strong stores. “The work that Woodbury has put into creating places to shop, restaurants, and a variety of things to do in general is remarkable,” says Edina Realty agent Vickie Gay. The lifestyle options pair well with the area’s comparatively reasonably priced houses. “Woodbury is pretty diverse,” Gay says. “You can get into good single-family homes, including some in the very upper bracket, at a pretty nice price.”

Minnetonka +6.2%
The passage of several recent bond issues directly feeds Minnetonka’s strongest attribute: The school district, which also serves such neighboring communities as Deephaven and Shorewood, is considered one of the state’s best. “The theater program is off the charts, and the language immersion programs are very good,” says agent Carl Zinn with Coldwell Banker Burnet. “Schools are the primary draw,” he notes, “but second is the water.” Indeed, much of the town’s namesake lake is within Minnetonka. Along with Lotus, Christmas, Minnewashta, and Virginia lakes, water is never far from home. Anyone looking for new developments is out of luck. Minnetonka is a “mature” suburb with virtually no available land for big projects. But its proximity to quintessential Minnesota lake life and homes with lots large enough for expansion make it attractive.

Stillwater -.07%
Almost Disney–like in its capture of small-town Americana (at least until you get up on the hill and take a tour of franchise big box USA), Stillwater’s picture-perfect historic district and St. Croix River perch provide the initial allure for many people. But the beauty of neighborhoods in the city and surrounding countryside is what convinces them to settle here. “Washington County set some early zoning requirements, so open space in terms of parks and recreational opportunities has always been important,” says Sharon O’Flannigan with Stillwater’s Coldwell Banker Burnet agency. Although the scene appeals to many buying segments, “move-up buyers with children they want to raise and put into the school system out here,” represent one of the largest groups, O’Flannigan says. Older housing stock in the central city is a mixed bag of still-needs-work and lavish Architectural Digest–worthy restorations. Expect few bargains. But if you don’t have to commute and can sink available cash into upgrades, you can’t go wrong in Stillwater.