Minneapolis vandalism targets include 189-unit affordable housing development

SugarDaddy1

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The under construction affordable housing development that burned in the widespread violence in south Minneapolis late Wednesday and early Thursday was to be a six-story rental building with 189 apartments for low-income renters, including more than three dozen for very low-income tenants.

Construction began last fall on Midtown Corner, and was expected to completed and ready for occupancy this year. Late Wednesday the wood-framed upper floors of the building were fully engulfed in flames, with thick plumes of smoke that figured prominently in widely viewed photos of the riots. By Thursday morning, what had been an active construction site, was reduced to a pile of smoldering ashes atop what was left of the concrete first-floor commercial space.
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Sounds like many of the looters were from out of state. Frustrated Packers fans, no doubt.
 
More than 170 St. Paul businesses looted or damaged, dozens of fires set, police say

What appeared to start as impromptu demonstrations for George Floyd, the man who died in Minneapolis police custody, turned into a day of scattered arson, looting and significant destruction of retail shops in St. Paul’s Midway and elsewhere in the capital city on Thursday.

The unrest continued into the evening — more than 170 businesses were damaged or looted, and dozens of fires were set, according to police. There were no reports of serious injuries in St. Paul.

Just after 1 a.m. Friday, a fire broke out at Lloyd’s Pharmacy, which dates back to 1918, at Snelling and Minnehaha avenues. A large crowd gathered, many visibly upset the neighborhood business was targeted. By 1:30 a.m., the two-story building was fully engulfed, with several fire crews fighting to contain the flames.
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The novel coronavirus pandemic couldn’t shut down Target, but the rioting ripping apart major U.S. cities has.

The U.S. retailer said Sunday that more than 100 stores nationwide, including 33 in Minnesota, would be closed after a fifth night of violent protests in Minneapolis, spurred by Mr. Floyd’s death Monday in police custody.

The decision came shortly after a Target store near the Third Precinct police station in Minneapolis was ransacked by rioters, with photos showing extensive damage, flooding and vandalism. Other Target stores have also been broken into by looters.

Other locations closing temporarily include those in California, Colorado, Illinois, New York, Oregon, Pennsylvania and Texas. Six locations are closed “until further notice.”
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Areas where rioting occurs can expect to see a 10% reduction in property values versus similarly sited properties without. This is the premium that markets typically demand to account for the risk.

It will take major local and Federal dollars to induce investment in these historically under-served areas and will impact other areas with similar demographics. It will dampen enthusiasm for revitalization aka the hated so-called gentrification and will lead to increased segregation due to the so-called white-flight where those that can afford to do so can, like the Obamas did, fistamcebthemselves from crime ridden demographics.
 
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