2910 East Franklin Avenue; 2515 South 9th Street, Minneapolis, MN
Landon Group secured financing and provided overall project management
Tax-Exempt Revenue Bonds – HUD 221(d)(4) loan; 4% Low Income Housing Tax Credit Equity; Deferred financing from Minnesota Housing, Hennepin County, Metropolitan Council and City of Minneapolis
- Two buildings, 640 affordable rental units
- $93.8 million total development cost
- Frerichs Construction Company
- LHB Architects
Seward Towers East and West
are two 21-story high rises containing 320 apartments in each building. The properties are owned by Seward Towers Corporation and have been governed by a board that includes the Seward neighborhood, residents of the Towers, as well as Seward Redesign and CommonBond Communities who provide asset management and property management services. Seward Towers East and West were built in 1969/1970 and acquired by the current ownership in 1990.
CommonBond Communities also provides services to families through the Advantage Services Center in each building. The Advantage Services Centers are site-based facilities to help residents maintain stability, reach personal and financial goals, and succeed in their educational activities. The culturally competent programming serves the high percentage of immigrants who live in the Towers.
Seward Towers was selected as a Top Project of 2016 by Finance & Commerce.