Sibley Manor Apartments

210 W. White Street, Ely, MN

Project Type: Rehabilitation

DETAILS:

Project Stage: Completed

Size: 39 affordable rental units

Original Construction Date: 1952

Rehab Completion: 2015

Developer: Greater Minnesota Housing Fund and National Association of Housing and Redevelopment Officials on behalf of Housing & Redevelopment Authority of Ely, MN

Project Cost: $678,000

Funding Sources: Minnesota Housing Infrastructure Bonds (GO Bonds); owner capital

Landon Group role: Secure financing

In 2014, the Minnesota Legislature provided $20 million in General Obligation Bonds to Minnesota Housing to be awarded to HRA/PHAs in order to address critical physical needs in existing public housing. GMHF and NAHRO hired Landon Group to provide technical assistance to Public Housing Authorities in preparing competitive funding applications.

Landon Group assisted 14 HRA/PHAs with application submission to Minnesota Housing. 11 of those 14 developments were funded, out of 46 total applicants.

The Sibley Manor project specifically replaced a leaking and failing roof system, two very old heating boilers and a hot water heater, plumbing fixtures, and all unit lighting.