500 Dale Street North, Saint Paul, MN
Landon Group secured financing and provided overall project management
HUD 202 Capital Grant; Deferred financing from City of Saint Paul, Ramsey County, Metropolitan Council, MN Dept of Employment & Economic Development; Owner Capital Campaign
- 50 affordable rental units for seniors; 11,700 square feet of retail space
- $12.3 million total development cost
- Benson-Orth Associates; Meyer Contracting, Inc.
- Trossen Wright Plutowski Architects, PA
Completed in 2011, Kings Crossing Apartments features 50 units of permanent, affordable senior housing and is part of the larger Frogtown Square, a four-story development with 11,700 square feet of commercial space and underground parking.
The development introduced 50 new units to the area’s affordable housing stock, created roughly 35 new jobs, increased “Class A” commercial/retail space, and efficiently utilizes public infrastructure including roads, water/sewer and public transportation.
Episcopal Homes owns and manages Kings Crossing Apartments. Each one-bedroom unit of approximately 625 square feet is targeted towards active, independent seniors. Episcopal Homes was awarded HUD 202 financing which provides a long-term operating subsidy allowing them to offer very affordable rents to seniors with incomes at or below 50% of the area median income.
NEDU, LLC owns and operates the first-floor commercial space, as well as the surface parking lot on the site.