620 River Road, Grand Rapids, MN

Landon Group secured financing

9% Low Income Housing Tax Credit Equity; Low and Moderate Income Rental (LMIR) mortgage; Deferred financing from Minnesota Housing

• 60 Project-Based Section 8 units, 100 total units
• $10.6 million total development cost
• Frerichs Construction
• Kaas-Wilson Architects

Located in Grand Rapids on five acres overlooking the Mississippi River, Pine Ridge Apartments is an affordable housing complex committed to housing underserved populations, including seniors, people with disabilities, households of color and those experiencing long-term homelessness. Sixty units are served by Project-Based Section 8 assistance.

Originally constructed in 1977, capital improvements were needed to maintain the Section 8 contract and to continue providing quality housing for residents. The Schuett Companies rehabilitated and recapitalized this housing using an allocation of 9% Low Income Housing Tax Credits and a new mortgage from Minnesota Housing.

Schuett Companies is committed to providing housing for underserved populations and also to ensuring that residents have adequate support services. CompassionCare, a home health agency founded by Tom Schuett in 2011, enables residents to remain living independently in their own homes for as long as possible. Services include housekeeping, meal preparation, medicine administration, hygiene assistance and transportation.

Additionally, Pine Ridge has partnered with Northland Counseling Center of Grand Rapids to set aside five units for families suffering from long-term homelessness. Established in 1959, Northland provides crucial services, particularly for residents who have experienced long-term homelessness, to help them achieve stability. Northland is an experienced practitioner with a vast network of resources, equipped to provide mental health, counseling, psychiatric and chemical dependency services as needed.