VOLUME 31, NUMBER 07
©2015 Law Bulletin Publishing Co.
July 2015
One Southdale Place: A taste of urban living in the suburbs By Dan Rafter, Editor
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ou don't have to live in the center of a big city to get a taste of urban living. The One Southdale Place luxury apartment complex in the Twin Cities suburb of Edina, Minnesota, is a good example. The property -- developed jointly by Simon Property Group and StuartCo -has made a bit of history by becoming the first apartment complex located in the parking lot of a regional mall in the Twin Cities market. And because the apartment complex has sprouted in the parking lot of the Southdale Center shopping mall, it offers an urban feel in a suburban location. Lisa Moe, president and chief executive officer of StuartCo, said that residents
at One Southdale Place can walk to the Southdale Center or the nearby Galleria shopping center in Edina. "We've heard from a lot of people who like the idea of urban living but also like the convenience of living in the suburbs," Moe said. "This gives them both worlds. It's half urban and half suburban." Moe said that one resident of One Southdale Place told her that he might as well move here because his wife already spends most of her time at the Galleria. "Another told me that the project has all of the amenities that she wants and gives her the ability to walk to so many stores," Moe said. "She calls it her resort." Southdale to page 18
The Real Estate Side of Oil and Gas Royalties Alfred C. Teran, Patriot Energy
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henever we hear the word “real estate” what comes to mind is the traditional categories of property we see and live in on a daily basis. There is Farmland, Ranchland, raw land, brick and mortar, commercial properties, multi-family structures and our homestead, all of which affect our daily lives in a positive manner. These types of real property provide a
Teran
variety of financial gain by generating cash flow or a revenue stream to the owner of these assets. Outside of our homestead, most real estate properties have an investment appeal that attracts all of us to one or more categories of real property assets. There is an additional benefit to owning one or more categories of property assets, and that
is the appreciation of value most real estate provides, meaning that the initial purchase price of the property will grow in value once it is sold in future years. There is another category of real estate and real property not very well known by many of us and not readily available to everyone. However, this category of real estate provides the same benefits as the traditional real estate we all understand. The greatest appeal Royalties to page 20