Calvary Center Apartments

7650 Golden Valley Road, Golden Valley, MN 55427

Project Type: Rehabilitation

DETAILS:

Project Stage: Construction

Size: 80 units

Year Constructed: 1981

Developer: Calvary Community Services, Inc.

Project Cost: $19.6 million

Funding Sources: 9%LIHTHC, State deferred funding, MN Housing mortgage

Landon Group role: Structure and secure financing, coordinating underwriting and closing.

Calvary Center Apartments is a project-based section 8 housing development for seniors ages 62+ that was at risk of loss due to critical needs. The eight-story, 80-unit building was constructed in 1981, and rehabbed last in 2007, utilizing LIHTC. The rehabilitation scope includes significant interior upgrades, new major systems, and exterior work to maintain and improve the exterior.

The substantial rehabilitation of the building will not only preserve this resource for Metro area low-income seniors, it will include four units of permanent supportive housing for High Priority Homeless households.