Edina, Twin Cities Relocation

Edina

Edina is a first-ring suburban city in Hennepin County, State of Minnesota which started out as a farming and milling community back in the 1860s but has now developed into a metropolitan community.  Most of the original residents of Edina were Scottish and Irish immigrants and some have remained to see their city grow into a community that offers one of the best living conditions for its residents.  With 39 parks, high quality medical and educational facilities and regional shopping areas, Edina has indeed become a city to watch out for.

History

Edina used to be part of the City of Richfield in Minnesota in the 1850s after the original 17 family settlers migrated to the Richfield Village due to Ireland’s potato famine. The English and Scottish farmers followed and established a community along the Minnehaha Creek.  Edina was born after the residents decided to separate from Richfield Village in 1888 and establish a new village.  Among the names that were floated around include Westfield and Hennepin Park but it was Edina which was chosen by the villagers.

If you take a look at Edina’s street names, you would notice that most of them are the names of the families who once occupied Edina among them Code Avenue, Grimes Avenue, Cooper Avenue and Gleason road.

Community Profile

Being a resident of one of Minnesota’s ritziest cities can have its price but no one is complaining since majority of Edina’s residents are considered rich, with the average household income amounting to $66,019 in 1999 compared to the $37,974 average household income of Minneapolis.  The city’s per capita income amounts to $44,195 while the average income for every family amounts to $93,496.  Poverty is rare in Edina with only 2% of the total number of families and only 3.3% of the total population living below the poverty line.

Edina has a total population of 47,425 people as of the 2000 Census.  A total of 12,870 families live in the city’s 21,669 housing units.  Majority of the residents are Whites (94.28%) followed by Asians (2.99%), African Americans (1.15%) and the rest are native Americans, Pacific Islanders and those from other races.  The city’s population has an average age of 44 years, with 22.9% below the age of 18 and 22.7% were 65 years or older.

The high quality of life in Edina is evident with the vehicle ownership statistics in the city.  A total of 81% or 18,269 of Edina’s workforce drove a car alone when going to work while only 3% or 711 used the bus and 7% or 1,469 carpooled.  A small percentage of the workforce uses the taxi, motorcycle and bicycle when going to work.

Business

Money is circulating in Edina and if you are planning on corporate relocation or employee relocation or just plain vacation then you would not be disappointed with Edina’s commercial establishments.  This is shopper’s destination and if you happen to pass by here do not miss Southdale Center, a fully-enclosed. Climate-controlled shopping mall considered a first in the United States.  Other shopping centers include the Centennial Lakes Plaza, Yorktown, Galleria and 50th & France which Edina shares with Minneapolis.

Alcoholic drinks are controlled in Edina and these items are sold only in municipal liquor stores in Southdale, Vermon & Interlachen Blvd and 50th & France.  Nowhere else can you find this commodity in Edina.  Despite its commercial success, there is only one hotel in Edina and this is the Residence Inn by Marriott. The 225-room, 6-suites and 79-Condominium Westin Edina Galleria Hotel & Residences is still under construction and is expected to be completed by 2008.

Housing

Most houses and condominiums in Edina use utility gas (94%) while only a few use electricity (5%) and fuel oil or kerosene (1%) as their heating fuel.   Apartments are however a different story as only 66% of the dwellers use utility gas, 28% use electricity and the rest use fuel, kerosene, bottled, tank or LP gas.

One of the set-offs when living in a rich city like Edina is the ever increasing cost of living particularly the sky-rocketing housing costs.  The average price of houses for sale in Edina has increased by $185,000 from only $215,000 in 1997 to $400,000 in 2004.  It is thus a good idea to invest in real estate properties in Edina now before real estate prices sky rocket in the future.

Corporate relocation is becoming a trend because of the increasing number of ordinary people being displaced in Edina due to a wide disparity between their incomes and the cost of housing.   If you belong to the high-income bracket employees and your company offers you a relocation package in Edina which includes a condominium, duplex or a new home then make sure you know about the real state of real estate in Edina by consulting a real estate agent.

To solve the growing disparity problem, the Edina Affordable Housing Taskforce has released a set of recommendations for affordable housing in Edina.  The community has participated in the consultation and the results of the study will be used to jumpstart a plan for affordable housing in the community.

Despite the growing concern for expensive housing in Edina and a median rent rate of $654, the city only has a 5% vacancy rate.  Majority of the 29,669 housing units or 76% 916,072) are occupied by the owners.

Famous Citizens

Edina is a rich city and it is not surprising that not a few billionaires have made the city their home.  Among them are Best Buy founder and chairman Richard M. Schulze (who is a present resident) and Minnesota Twins baseball franchise owner Carl Pohlad. Schulze is No. 102 in Forbes’ List of 400 wealthiest Americans in 2007 while Pohlad is No. 107 in the Forbes List of the United State’s richest persons in 1992.

Famous singer and song writer John Denver lives in Edina with his first wife Ann Martell from 1968 top 1971. Professional Tennis player Mardy Fish, professional Wrestler Ric Flair and Author Vince Flynn are also from Edina.  Professional golfer Hilary Lunke (who won the US Women’s Open in 2003) and Ice Hockey Player Bill Nyrop (who won three National Hockey League Stanley Cup Championships) are also from Edina.

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