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SEARCH FOR FRIDLEY REAL ESTATE

Fridley

The City of Fridley in Anoka County State of Minnesota is accessible via Minnesota State Highways 47 and 65 as well as Interstate 694.  People came up with tongue twisters when pronouncing the city’s name that it earned the moniker Friendly Fridley.

Fridley is known for celebrating the city’s 1949 incorporation through the “49’er” festival which is usually held June of every year.

History

The Red River Ox Cart Tail which was constructed in 1844 played a great role in the history of Fridley especially because the road was used by those transporting furs and other supplies to the settlers of the Red River Valley.  John Banfill, the area’s first known settler, arrived in the town of Manomin in 1847.  However, the population grew quickly and before the folks were aware of it, a post office and a ferry service were established.

If you were wondering why the city was named Fridley, it is actually the family name of Abram Fridley, who was elected in 1855 as the area’s first territorial representative.  Manomin County was established in 1857 after it separated from Ramsey County.  It became the country’s smallest county and in 1870 it became a Township annexed to Anoka County.  The Minnesota State Legislature changed the township’s name in 1879 and named it after Fridley who was still a member of the legislature at that time.

Along with Fridley’s incorporation in 1949 was the establishment of the Fridley Free Press.  However, the city’s funds were frozen after its incorporation was challenged in a lawsuit.  Despite that, the city continued to operate thanks to the proceeds from the Fridley liquor store until 1950 when the case was resolved.

Fridley’s history was changed when it was hit by two F4 twister or tornadoes which damaged one in every four houses in the city.  Another tornado hit Fridley in July, 1986 which destroyed the city’s environs.  Winds of 80 miles per hour hit the city in September 2005 which destroyed many trees, houses and other properties not only in Fridley but also in Brooklyn Park, New Brighton and Blaine.

The city has been faced with many natural calamities but it continues to be in the forefront of development.  With the completion of the Northstar Corridor commuter rail line in 2009, the city can already boast of being one of the locations of the first six rail line station in the Twin Cities.

Community Profile

The city is home to 27,449 residents distributed into 11,328 households as of the 2000 Census.  Most of its residents are Whites (88.65%) followed by African Americans (3.42%), Asians (2.89%), Native Americans (0.82%) and those from other races.

Fridley’s population is fairly young with an average age of 36 years old, with 22.5% of its population below 18 years of age and 12% are over 65 years of age.  The city has a per capita income of $23,022 with an average income of $48,372 for every household and $55,381 for every family.  Of the total population 7.3% are living below poverty while of the total number of families 5.3% are living below poverty level.

Business

Medtronic Incorporated’s world headquarters is located in the City of Fridley and it is one of the city’s major employers.  The company, which is included in the list of Fortune 500 Companies, manufactures implantable health electronic devices.    The others are Park Construction Company, the producer of the Desert Eagle firearm---Magnum Research, Unity Medical Center, Kurt Manufacturing Company, Cummins, Minco Products, Inc. and BAE Systems, 

Housing

The average value of condominiums and houses in Fridley has almost doubled in just seven years from the $120,300 median value in 2000 to $217,000 in 2007. This is more than the $213,000 average value of houses and condominiums in the State of Minnesota.

Majority or 11,328 of the 11,504 houses in Fridley are occupied.  Of this number, 7,665 houses are occupied by their owners while 3,663 or 32% are occupied by renters. The number of rented houses in the city is more than the 25% rented houses data for the State of Minnesota.
If you are planning to avail of corporate relocation or employee relocation to Fridley then it may be helpful to note that as of 2007 the average asking price for houses and condominiums for sale is $229,353 while the average rent for houses and condominiums is $752. 
Only 1,973 of the total number of housing units in Fridley are without a mortgage.  A total of 4,746 housing units are mortgaged, 719 of which are under home equity loan, 617 are under a second mortgage and 23 have a home equity loan and a second mortgage.
Monitoring of the state of Fridley’s housing sector lies in the Housing and Redevelopment Authorities or HRAs.  This office is tasked with the responsibility of making sure that houses, apartments and condominiums in the city that are dilapidated, overcrowded and obsolete are repaired and improved.  This function has been strengthened by the enactment of the 1979 Tax Increment Financing Act which allows the HRAs to finance these developments using the tax increments.
The HRAs also make sure that housing rehabilitation and redevelopment programs are implemented and that new housing opportunities are made possible to meet the increasing housing needs of its residents.

Just like the other cities in Minnesota, the City of Fridley is also faced with mortgage foreclosure problems and the local government is addressing this problem.  Foreclosures are not only personal problems of the homeowners but they also create problems for the city because homeowners who are faced with foreclosure problems are not able to properly maintain their properties.  On the other hand foreclosed properties also create vandalism and safety problems for the community.

To avoid these problems it is important to get immediate assistance in case of financial difficulties and to discuss your problem with your mortgage company as they may be able to provide options for you.  You can also choose from the various housing redevelopment programs offered by the HRA including Single Family Housing Programs and Revolving Fund which allows you to get a maximum loan of $35,000 at an interest of 5.25%, the Minnesota Fix-Up Fund which offers a maximum loan of $35,000 at an interest of 6.5%, Home Improvement Grants at a maximum of $15,000, Rental Property Housing Rehabilitation, Rental Rehabilitation Loans and other housing programs.

 

 Here is a link to the City Of Fridley website:  http://ci.fridley.mn.us

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