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Qualifications & Categories


Project Qualifications:

  • Must be substantially complete between June 1, 2021 and May 31, 2022.
  • Must be submitted by a member company (any company with at least one NAIOP member).
  • Must be privately funded.
  • Must be located in Minnesota.
  • Must be new construction (excluding Repositioned/Renovated category, which includes both new use and tenant improvement projects).
  • Projects previously submitted are not eligible.

 

Project Categories:

Office Build-to-Suit

Single tenant or owner-occupied office facility designed to specifically accommodate user’s general office requirements. Excludes any building for medical office use. Facility must contain a majority of office build-out.


Office Multi-Tenant

A new multi-tenant office building. Excludes any building with more than 50% medical office use.


Medical / Medical Office

Single- or multi-tenant medical office or medical facility specifically designed for medical users. At least medical users must occupy 50% of the building. Includes medical office, clinics and other medical facilities.


Industrial Build-to-Suit

Single tenant or owner-occupied facility designed to accommodate a user’s specific warehouse/manufacturing/production or high-tech needs. Facility must contain dock or drive-in loading access and cannot exceed 80% office/lab build-out.


Industrial - Bulk Distribution

Single- or multi-tenant facility designed for distribution uses. Facility must have a clear height of 24 feet or more and dock/drive-in loading access. Facility cannot contain more than 10% office/showroom/lab build-out.


Light Industrial - Low Finish

Single or multi-tenant facility designed for warehouse, manufacturing, or high-tech uses. Facility must contain dock or drive-in loading access. Includes flex facilities provided that less than 35% of the build-out is office/lab/showroom.


Light Industrial - High Finish

Single or multi-tenant facility designed for warehouse, manufacturing, or high-tech uses. Facility must contain dock or drive-in loading access. Includes flex facilities provided that more than 35% of the build-out is office/lab/showroom.


Repositioned/Renovated

Developer/owner must have made major structural and/or aesthetic changes to an existing property and significantly repositioned the project in the marketplace. Category may be split by Final Use Product Type.

  • Sub-Categories
    • New Use
    • Tenant Improvement

Mixed Use

An income-producing property that comprises multiple uses within a single site or building such as retail, office, residential or lodging facilities. Multi-family apartments/condos projects with a secondary use that is 26% or more of the project will be judged in this category. For example, office buildings that contain ground-level retail and housing; sites that have separate office, retail and multi-family properties.


Multi-Family Apartments/Condos

Project is designed as living accommodations. Projects must contain at least 15 units. Projects with a secondary use like retail or office that is 25% or less of the project will be judged in this category. Projects with a secondary use that is 26% or more of the project will be judged in the mixed use category. If the project includes townhomes, the number of townhomes must be 25% or less of the total number of units.

  • Sub-Categories
    • Low-rise: 1-5 stories
    • Mid-rise: 5-7 stories
    • High-rise: 8+ stories

Senior Living

Housing projects that emphasize the needs of an aging population. Category includes age restricted (a.k.a. active adult) and full continuum of care. Additionally, category may be separated for owned and rented units. Excludes multi-family apartments/condominiums (separate category).


Hospitality

Resorts, hotels, restaurants, and other hospitality projects shall be included in this category.


Special Purpose

Privately-funded buildings that are new developments designed for a special use and that do not qualify for any of the other categories above.