Jim Eischens, CEO of Millennium Management, on Amazon's HQ2

I may be biased, but living in one of the major cities in the Midwest has provided so many benefits for my family. Minneapolis is a major city but is not as chaotic as a place like New York. Leaders of Minnesota seem to agree, as they are currently involved in the bidding war for Amazon’s new headquarters, now referred to as HQ2. A few months ago, Amazon challenged North American cities to pitch as to why their location would be the best fit for their newest hub. If Amazon chooses the Twin Cities area, there are bound to be major changes to the place that I now call home.

To start, Amazon has promised the bidding cities so much to look forward to. The new HQ2 location is expected to formulate 50,000 new jobs and bring in more money for the city than ever before. Along with the creation of new jobs, the new home to Amazon can also expect the company to help front some of the costs to improve the city. Taking a look at Seattle, which is currently home to the original Amazon HQ, the city has seen vast steps taken to beautify and renew the rougher areas.

The proposal was due to Amazon in mid-October and major players in the Twin Cities area have been cracking away since the announcement was made. Local nonprofit, Greater MSP, has partnered with the Department of Employment and Economic Development (DEED) to come up with a solid presentation to give to Amazon. With a location of the massive retailer already open in the area, those involved in the pitch are already confident that HQ2 will have the positive impact its warehouses have already provided.

Real estate will also become majorly impacted by the opening of HQ2. In Seattle, the average cost of living along with real estate prices, skyrocketed as Amazon slowly became one of the wealthiest companies in America. If HQ2 ends up in Minneapolis or St. Paul, we are bound to see some of the adaptations that Seattle has over the past decade. There is also something to be said in regards to learning from the original location of Amazon. Hopefully, the team working on the bidding has assets all of the aspects of our great city and will make sure that we end up thriving, should we be so lucky to win.

Having Amazon’s HQ2 would forever change the future of the wonderful, Twin Cities. As we all anxiously await the decision that will come in a few weeks, we can only hope and prepare our region for this potential major change.

What are your thoughts on Twin Cities becoming the new home to HQ2? Are you for or against?

About the Author:

Jim Eischens is a real estate professional with over two decades of experience in the industry. He is currently serving as Chief Executive Officer of his own array of projects. Throughout his career, he has been able to dip his toes into many facets of the real estate world. With an extremely diverse portfolio, Jim Eischens has worked with single family homes, multifamily apartment buildings, charter schools, hotels, and office complexes.