Horizon Heights Townhomes

1 Horizon Heights Drive, Burnsville, MN 55337

Project Type: Rehabilitation

DETAILS:

Project Stage: Closeout

Size: 25 Project-based Section 8 units

Original Construction Date: 1980

Rehab Completion: 2024

Developer: Christopher M. Cooper & Associates (Minneapolis)

Project Cost: $11.3 million

Funding Sources: 4% LIHTC, State and County deferred, MHFA mortgage

Landon Group role: Structure and secure financing, coordinating underwriting and financial closing, project close out

Horizon Heights Townhomes is an existing Project-based Section 8 property located in Burnsville, MN. Built in 1980, the development was at risk of loss due to deferred maintenance and critical needs.

Christopher M. Cooper & Associates purchased the property and oversaw significant rehabilitation, including replacement of aging HVAC systems, exterior envelopes, and upgraded landscaping to mitigate and prevent infiltration of water that had contributed to an infestation of mold.

As before the rehabilitation, tenants are income restricted to 50% AMI. Horizon Heights provides much needed affordable large family housing – rehabilitation will allow this resource to remain available for decades to come.