Wadaag Commons

2115 Snelling Avenue, Minneapolis, MN

Project Type: New Construction

DETAILS:


Project Stage: Under construction


Size: 39 affordable rental units


Completion Date: 2025


Developer: Seward Redesign Inc. and Noor Development (Minneapolis, MN)


Project Cost: $26.8 million


Funding Sources: 9% LIHTC, State/City/County deferred, Met Council, MN Housing mortgage


Landon Group role: Secure financing, coordinate closing, coordinate draws, project closeout

Wadaag Commons is the third phase of the multi-phase development known as Seward Commons.  Located adjacent to the Franklin Avenue Station of the LRT Blue Line, the overall development revitalizes a distressed former industrial site. Other phases of Seward Commons include supportive housing, senior housing, and market rate housing.

Wadaag Commons creates 32 units of affordable rental housing at 30%, 50%, and 60% of area median income, with 50% of the total units featuring three- and four-bedroom units to serve larger families. These 16 units have a commitment of project-based Section 8 vouchers from the Minneapolis Public Housing Authority. An addition four units will serve High Priority Homeless households, and five units will serve People with Disabilities. Referrals for the supportive housing units will come from Hennepin County Coordinated Entry and services will be provided by Simpson Housing Services.