Bryan Walters, the co-founder of a Minneapolis property management firm, spoke out on Liz Collin Reports about the state of Minneapolis and problems with crime and public safety in Uptown and surrounding neighborhoods.
Walters also shared security camera footage with Alpha News after several crimes were captured on camera in the past two years.
“We had an unfortunate situation along Nicollet Avenue where we’ve invested a lot in developing both commercial and residential properties along there, where crime and public safety has degraded to the point where businesses are leaving,” Walters explained.
Business was not profitable—even without paying rent
He further explained how the situation has affected businesses big and small. “We had a Family Dollar leave our building three years ago, they cited the shrinkage, which is theft from their property, as not being profitable. Now, the Frattallone’s Hardware Store, which has been in the neighborhood for I think over 30 years, they came to us in 2021 and basically said, ‘Look, we’re not profitable. We need to either move out or we can’t afford to pay rent.'”
In making a generous offer to help the local hardware store, Walters said, “we’ll work with you, you don’t have to pay rent, just pay for utilities and help things go along until you become profitable. That was two years ago.”
Walters explained how even despite his generosity over the past two years, and without asking for rent, businesses were still suffering.
“The safety situation has not improved in the area … We still have constant drug dealing along Nicollet Avenue around 18th there, which brings along with it the crime. The homeless population has also been an issue with harassing customers on the streets and people not feeling comfortable coming to the neighborhood. And so again, we offered for the past two years, we’ve basically given them rent free. And then they came to us last month and said, ‘We can’t make it work even without paying rent. We need to close this,'” Walters told Collin.
A dire situation affecting both commercial and residential properties
Walters said his firm now has a 26,000-square-foot commercial building with over 20,000 square feet of vacant space on Nicollet Avenue. Making matters worse, he also explained how it’s just as bad on the residential side.
“Our bread and butter is the residential side in Uptown … We just don’t have enough people coming to the area looking for apartments. So everyone’s giving concessions. There’s 12 to 18% rent loss right there just on the concession on top of 10%-plus vacancy. It just does not make the buildings profitable. It makes it very difficult to operate,” Walters explained.
A proposed medical respite center for homeless people has only made matters worse, according to Walters. He has been meeting with city council members off and on for years, he explained in the interview.
Minneapolis City Councilmembers offer same response year after year
Walters provided Alpha News with an e-mail he sent last December to Council Members Katie Cashman and Jamal Osman that reflects an on-going conversation over the years.
“I didn’t receive a response from Councilmember Cashman. Osman did reach out and kind of gave us the same sentiment that he’s given us the past three years. He acknowledges there’s an issue with the safety situation and says he’ll continue to work with the MPD to try and get increased patrols and more eyes on the street. But again, that’s been the response for the last three years.”
In speaking with Collin, Walters questioned the councilmembers’ lack of action: “What is actually being done? They know they don’t have the police force to do what needs to be done. So why aren’t you voting to improve the MPD budget versus cut it and move funding to other programs?”
The looming Minneapolis City Council election
All 13 members of the Minneapolis City Council and the mayor are up for reelection in 2025. Jeremiah Ellison has announced he is not seeking another term.
Walters shared the following message with Minneapolis voters:
“We have to change … Everyone sees the results of what Uptown looks like. Aisha Chughtai is the council member for the Uptown Ward. She’s a proud member of the DSA.
“We have to find candidates that understand what it’s going to take to turn the city around. Unfortunately, the DSA is a well-organized machine. They are getting their candidates into the Democratic caucuses and getting their candidates with the Democratic nomination. People have to come out and vote for the common sense candidates that are running. It’s so hard to sit back and see that you know you’re in the majority. You know most of the people understand things need to change, but if they don’t get out and vote for the candidates that are gonna make the change, we’re not gonna see anything happen,” Walters explained.
“Obviously, there’s the financial loss, but from a personal side, we live in the city. My family lives in the city. We didn’t sign up to this job expecting to have to watch shootings and murders outside the front doorstep of our properties and to see constant drug use and basically zombies walking down the sidewalk and unable to do anything about it. From a personal side, it’s very disheartening,” he added.
Walters said other business owners and property managers in the city share his concerns.
“Yeah, I mean, it’s honestly, from what I’ve been talking to other owners and managers, it’s not a matter of like becoming profitable. It’s mitigating losses at this point. Like how can we stop bleeding money?” he said. “You’re gonna see this death spiral continue and there becomes a point where there’s the point of no return. Like I just, I don’t know how you come back from it after a certain point of vacancy and loss.”
Walters is co-founder and operations manager at YellowTree, a Minneapolis-based real estate construction and property management firm.
Liz Collin
Liz Collin has been a truth-teller for 20 years as a multi-Emmy-Award-winning reporter and anchor. Liz is a Worthington, Minnesota native who lives in the suburbs with her husband, son and loyal lab.
