1890 University Avenue West, Saint Paul, MN
Landon Group secured financing and provided draw management
501(c)(3) Tax-Exempt Revenue Bonds – Public offering; HUD 202 Capital Grant; Deferred financing from Minnesota Housing, City of Saint Paul, Ramsey County, Metropolitan Council, and Minnesota Department of Employment & Economic Development; Owner Capital Campaign
- 174 affordable rental units for seniors
- $48 million total development cost
- Benson-Orth Associates
- Trossen Wright Plutowski, PA
Episcopal Homes has been providing housing and care to seniors in Saint Paul since 1894. A respected leader for its innovative and high-quality facilities, Episcopal Homes designed an ambitious development to address the rapidly growing senior housing needs of its community.
The Midway Village expansion features 20 memory care units, 40 units in a skilled nursing facility for private pay residents and those on Medical Assistance, 64 “catered living” units responsive to the needs of each resident, and 50 units for independent, low-income seniors funded by a HUD 202 capital grant for the construction, followed by a 40-year Project Rental Assistance Contract HUD grant for ongoing operational cost needs. This allows residents to pay no more than 30% of their income on rent.
Midway Village was selected as a Top Project of 2014 by Finance and Commerce.