Left: Bill Feder of William Feder Homes of Mankato. Right: Mike Drummer at property that will be developed around the new school. “lower levels” – finished off at the start, rather than leaving them as a sweat equity project later. “To finish off a lower level is a fourth of the cost of finishing a main level,” Feder said. “So instead of three bedrooms on the main floor people will have two on the main and one in the lower level, and maybe an office.” He said newer furnaces and air exchange systems make it easier to control the temperature in basements. The finished basements require a focus on keeping the lower level dry. “People say ‘I want a dry basement,” and I say “I want you to have a dry basement even more,’ ” He said the recent years of extreme rain events and basement flooding where it never occurred before has led him to make changes in the sump-pump systems. “We’re putting in two sump pumps instead of one. One just can’t keep up.” Deichman, whose been building custom homes for 22 years, said a major change has been all of the automation built into homes. “The ability to control lights and security, video, audio, curtains -- all from your phone. Five years ago it was one in 10 homes; now almost all have automation.” He said technology advances and price reductions have made it possible. “What used to cost $100,000 now we can get greater control spending a few thousand dollars. And my 5-year-old can control our home on his phone. He enjoys turning the lights off and on and putting the blinds down,” Deichman said. “The important thing is having someone who knows what they’re doing putting it in.”
Apartments everywhere
Apartments for everyone from college students and working families to seniors, empty nesters and young professionals continue to proliferate. Drummer built two phases of 102 units near the WOW Zone that filled up quickly and is beginning the third phase to bring a total of 155 units. “We have a waiting list for that. We’ll be full when we open next April,” he said.
“The St. Peter area is the same thing, with waiting lists there.” He will begin constructing units on the Marigold site in lower North Mankato this fall, hoping to have half open this year and half next year. Drummer also is focusing more rental unit construction aimed at workers who will be at places such as the new Wal-Mart distribution center. “One thing we’re doing is some that look like regular split-levels with an apartment in the basement and one apartment going up the other steps.” Seifert said the demand for workforce-style apartments is strong in many of the regional markets they build in. And, he said, college and young single renter complexes are in demand and renters are looking for different amenities than in the past. “Here in St. Cloud we built two buildings and all the one-bedrooms leased out right away. It doesn’t look like people want to live together with roommates. They’ve been conditioned to have their own space. We’re adding more one bedrooms,” Seifert said. “All the student housing has four bedrooms and four baths and common kitchen and living area. The days of six kids sharing one bath getting ready for school is done.” Still a growing portion of apartment construction is focusing on luxury, such as Pond View Heights in Mankato. “There are a section of people who are getting out of their homes or moving from other apartments who want nicer, quiet places. They want the amenities to hold a party and have an exercise room,” Seifert said. “We have one in Grand Forks with an indoor/outdoor pool, a half basketball court, gym.” Ground work is under way on Phase I of the Pond View Heights Apartments with an opening date set for March. The owners, Ringheim Family Limited Partnership, have a long history in Mankato, starting with the purchase of Hillside Terrace House and two 12-plexes in 1976 by Loren and Marilyn Ringheim. Expansions followed over the years with a six-plex built on the Hillside Terrace property, building of Lormar Suites, and acquiring the
MN Valley Business • august 2014 • 17