520 2nd Street Southeast, Minneapolis, MN
Landon Group secured 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
- 91 affordable rental units
- $9 million total development cost
- BKV Group
Stone Arch Apartments II, a 91-unit affordable housing development, is a six-story building with three levels of underground parking. The design compliments the evolving change of character occurring in the neighborhood. Slender and elegant in profile, yet muscular in presence, the building represents the industrial form of the area. Many green features and sustainable materials are incorporated into the design and construction.
Situated one block from the Stone Arch Bridge Historic District, Stone Arch Apartments II is close in proximity to downtown Minneapolis and the University of Minnesota. Residents enjoy the location, high quality construction, amenities and affordable rents.