2340 East 32nd Street, Minneapolis, MN
Landon Group secured financing and assisted with closing
Tax-Exempt Revenue Bonds – conventional mortgage; 4% Low Income Housing Tax Credit Equity; Tax Increment Financing; Deferred financing from Minnesota Housing, City of Minneapolis, Metropolitan Council, Hennepin County and Family Housing Fund
- 135 affordable rental units
- $25.8 million total development cost
- Shaw-Lundquist Associates, Inc.
- Collage Architects
Blue Line Flats is a transit-oriented, mixed-income affordable housing development one block from the Blue Line Lake Street Light Rail Transit station.
Formerly, residents to the south of the Triangle had to navigate through a vacant lot with no infrastructure to access the Light Rail Transit platform, YWCA, Farmer’s Market and other area amenities. The developer has traced the path of 24th Avenue through the site with a roadway and corresponding sidewalks that allow for movement to and through the site.
Blue Line Flats, developed by Wellington Management, includes 9 supportive housing units for long-term homeless households living with HIV/AIDS. Clare Housing is the Social Service Provider, helping the organization fulfill its vision of seeing all persons living with HIV/AIDS have affordable, safe and stable housing with access to the supportive services they need to lead satisfying lives with dignity. The physical proximity of the Clare Midtown building to this development enhances its ability to staff and serve the needs of residents.
Blue Line Flats was selected as a Top Project of 2016 by Finance and Commerce.