- Project Name: Stone Arch 2
- Client: Second Street Holdings, LLC (Lupe Development & Wall Companies)
- Landon Group Role: Secure financing
- Address: 520 2nd Street SE, Minneapolis
- Project Cost: $14.9 million
- Financing: Tax-Exempt Revenue Bonds – HUD 221(d)(4) loan; 4% Low Income Housing Tax Credit Equity; Deferred financing from Hennepin County, Metropolitan Council and City of Minneapolis
- Project Size: 91 affordable rental units
- Contractor: Black│Dew
- Architect: BKV Group
Stone Arch 2 opened in 2014 with 91 affordable rental apartments. The project consists of a six story building with three levels of underground parking. The design compliments the evolving change of character that is occurring in the neighborhood. The building is slender and elegant in profile, yet muscular in presence, representing the industrial form of the area. Many green features and sustainable materials are incorporated into the design and construction.
The building offers close proximity to Downtown and the U of M, and is situated one block from the Stone Arch Bridge Historic District. Residents enjoy the best of all worlds: excellent location, high quality construction, amazing amenities and affordable rents.