800 West Broadway Workforce Center

New Markets Tax Credit Coalition

Minneapolis,
MN
(2015)

800 West Broadway Workforce Center

Community, FQHCs, Healthcare, Mixed-use, Mixed-use and Commercial, Retail, Vocational Training

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

CDEs

University Financial Corp.

Investor

Sunrise Bank

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

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