Camdentown Flats

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

Other Minnesota Projects

The NMTC helped a food co-op expand and provide greater access to healthy food in a USDA food desert.
When it comes to architectural design, glass is big, and it’s only getting bigger.
Rehabilitation of a building for the development of a mixed-use project to include medical respite, transitional housing, healthcare, and social services for the homeless.
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 […]