Mino-bimaadiziwin Apartments
2107 Cedar Avenue South, Minneapolis, MN
Project Type: New Construction
DETAILS:
Project Stage: Completed
Size: 109 affordable rental units
Completion Date: 2020
Developer: Red Lake Band of Chippewa Indians
Project Cost: $41.8 million
Funding Sources: 4% LIHTC, State/City/County/FHLB deferred, owner equity, HRB - TCF mortgage
Landon Group role: Structure and secure financing, coordinate underwriting and closing, coordinate draws, project closeout
Mino-bimaadiziwin (Mino B) is one of the first Tribe-inspired, sponsored, and developed housing developments off Trust Land. It incorporates culturally-appropriate services with 109 units of affordable housing, including an Urban Embassy, Wellness Clinic, and a campus of Red Lake Nation College. Its location in the Cedar/Riverside neighborhood of South Minneapolis puts it in the middle of the nation’s largest urban concentration of Native American households.
Mino B augments this Cultural Corridor though the creation of comprehensive, holistic living that blends housing and traditional healing practices with contemporary therapies. The addition of High Priority Homeless set aside units, with wrap around services that help individuals achieve and maintain housing stability, allows Mino B to positively impact the high rates of homelessness within the Native American community.
Mino B was named a Finance and Commerce Top Project of 2020.