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Minneapolis, MN (2015)

800 West Broadway Workforce Center

NMTC financing renovated 800 West Broadway, a highly visible and blighted structure in an economically struggling area of North Minneapolis.

Investment

  • NMTC Amount: $6,240,000
  • Total Project Cost: $7,608,505

IMPACT

  • 20 FTE jobs
  • 8 construction jobs
  • Project includes a Federally Qualified Health Center.
  • 47,000 sq. ft. of real estate

Investor

Project Description

800 West Broadway is a highly visible and blighted structure in an economically struggling area of North Minneapolis. It is located in a census tract defined under the NMTC program as severely distressed- 52.2% of people in the census tract live in poverty. The median family income is $21,667 (26.77% of AMI). Sherman Associates recognizes the opportunity to bring a significant number of jobs, educational opportunities and vitality to the area through rehabilitating 800 West Broadway. The existing 47,100 sq. ft. structure was rehabilitated into space for: – North Minneapolis Workforce Center: Minnesota Department of Employment & Economic Development,Minneapolis Public Schools (in partnership with local colleges), NorthPoint Health, Commercial/retail space

MAP

Address: 800 West Broadway Avenue, Minneapolis, MN 55411

Census Tract: 27053002200

Other Minnesota Projects

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