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  • Minneapolis,
  • MN
  • (2022)

Camdentown Flats

District: Ilhan Omar (D-MN05)

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

Investor

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

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