Camdentown Flats

Minneapolis,
MN
(2022)

Camdentown Flats

Mixed-use

This investment will finance the construction of a 7,119 sq. ft., 9-unit multi-family corporate housing development designed to provide affordable live/workspace for professionals of color in the Camd […]

Investment

NMTC Amount: $4,000,000
Total Project Cost: $4,169,165

IMPACT

24 construction jobs
6,904 sq. ft. of real estate

CDEs

USBCDE

Investor

US Bank

Project Description

This investment will finance the construction of a 7,119 sq. ft., 9-unit multi-family corporate housing development designed to provide affordable live/workspace for professionals of color in the Camden neighborhood of Minneapolis, MN. The project will also include a small 215 sq. ft. commercial space leased to U.S. Bank for an annual rental of $50,000 per year throughout the compliance period to provide financial services and education. By providing affordable and attainable housing for young professionals and people of color. The commercial space will be utilized for events and community-outreach that will help US Bank connect its products and services directly with customers in the highly underserved market.

MAP

Address: 1500 44th Avenue North, Minneapolis, MN 55412

Census Tract: 27053100200

Other Minnesota Projects

George Modular

Minneapolis,
MN
(2024)

Manufacturing

CDE(s): CRFUSA, University Financial Corp., USBCDE

Much-needed investment by an innovative manufacturer provides economic boost for north Minneapolis, Minnesota community.

Plaza Verde

Minneapolis,
MN
(2004)

Incubator, Mixed-use, Retail

CDE(s): Local Initiatives Support Corporation

The rehabilitation and renovation of the former Antiques Minnesota building in the Midtown Phillips neighborhood of south Minneapolis to create high-quality retail, office/incubator, and non-profit arts space.

Twin Cities Habitat for Humanity Headquarters

Saint Paul,
MN
(2013)

Affordable Housing, Community, Habitat for Humanity, Housing

CDE(s): University Financial Corp.

Twin Cities Habitat for Humanity built a new headquarters building to house its staff, coordinate volunteers and provide space for educational and advocacy programs.

New Spirit

Mahnomen,
MN
(2023)

FQHCs

CDE(s): Midwest Minnesota CDC

Midwest Minnesota CDC allocated $10M to assist with a portion of the $17.9M development, construction, equipment, and other project costs for a new health center in Naytahwaush on the White