MIWRC

2300 15th Avenue South, Minneapolis, MN 55404

Project Type: Rehabilitation

DETAILS:

Project Stage: Underwriting and closing

Size: 24 units

Original Construction Date: ca. 1950

Rehab Completion: 2025

Developer: Minnesota Indian Women's Resource Center

Project Cost: $15.1 million

Funding Sources: 9% LIHTC, State/City/County deferred funding, debt assumption

Landon Group role: Structure and secure financing, coordinate underwriting and closing, coordinate draws, project closeout

MIWRC, owned by the Minnesota Indian Women’s Resource Center, is a substantial rehabilitation project. The current 14 units of housing, which are in disrepair and not sufficient to serve the families who live in them, will be converted into 24 units of fully supportive housing for both High Priority Homeless and People with Disabilities individuals and households.

MIWRC has been a positive presence for the surrounding community of East Phillips, specifically Native American individuals and families. Through its rehabilitation, MIWRC will be able to better serve more households, continuing its decades-long mission of service and support to help those most impacted by social inequity achieve and maintain housing stability.