A recent report from Cassidy Turley is great news for Twin Cities multi-family owners. The report notes that many Twin Cities metro neighborhoods are experiencing vacancy rates in the 2% range and that demand for multifamily units is generally strong. Student and senior housing are the focus of most current development efforts in the Twin Cities, with eleven projects serving those two market segments currently under construction. Proximity to shopping and entertainment venues, as well as access to public transportation, are balancing out the higher rents payable for urban multifamily units according to the report. The report also notes that there are a number of new multifamily developments on the drawing board that rely on the new Minnesota historic tax credit to balance out the development budget. In general, the market for Twin Cities apartments is looking good.