Wilder Square
750 North Milton Street, Saint Paul, MN
Project Type: Rehabilitation
DETAILS:
Project Stage: Completed
Size: 136 affordable rental units
Completion Date: 1974
Original Construction Date: 1974
Rehab Completion: 2022
Developer: CommonBond Communities
Project Cost: $32.5 million
Funding Sources: 4% LIHTC, State and City deferred, Federal Home Loan Bank, Environmental remediation grants, HUD working capital LOC
Landon Group role: Secure financing
Constructed in 1974, Wilder Square is an 11-story, 136-unit elevator building located in the Frogtown neighborhood of Saint Paul. It includes multiple units of project-based section 8, and is affordable to households with incomes at or below 50-60% AMI.
CommonBond purchased the property in 2019, and immediately set about securing funding to significantly rehabilitate and upgrade the building, which was at risk of loss due to deferred maintenance and critical needs. The preservation of these units included setting aside seven units for High Priority Homeless households with incomes at or below 30% AMI.
Wilder Square’s location in the vibrant Frogtown neighborhood provides residents with easy access to services, amenities, and transit.