Horizon Heights Townhomes

1 Horizon Heights Drive, Burnsville, MN 55337

Project Type: Rehabilitation

DETAILS:

Project Stage: Under construction

Size: 25 Project-based Section 8 units

Year Constructed: 1980

Developer: Christopher M. Cooper & Associates (Minneapolis)

Project Cost: $11.3 million

Funding Sources: 4% LIHTC, State and County deferred, MHFA mortgage

Landon Group role: Structure and secure financing, coordinating underwriting and financial closing, project close out

Horizon Heights Townhomes is an existing Project-based Section 8 property located in Burnsville, MN. Tenants are income restricted to 50% AMI, and will continue to be after rehabilitation is complete. Horizon Heights was fully funded in 2021, moved through financial closing and began construction in early 2023, and anticipates being complete and stabilized in Q2 2023. Horizon Heights provides much needed affordable large family housing – rehabilitation will allow this resource to remain available for decades to come.