Founded in 1956, Greenwood is located just 20 minutes west of Minneapolis, Minnesota. Greenwood is a statutory city with an elected mayor and four city council members. Approximately 700 residents live in the city, and half the properties are located on beautiful Lake Minnetonka. Greenwood is part of the highly rated Minnetonka School District. A regional trail winds along the west side of the city and is a favorite of bikers and walkers. We invite you to come enjoy our beautiful city on the lake.