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

Bois Forte Community Redevelopment Corporation Community and Government Services Facility

Cloquet,
MN
(2010)

CDE(s): Travois

Construction financing to build and manage the 48,852-square-foot Community and Government Services Facility. A fire destroyed the Bois Forte Band’s previous facility. This new energy-efficient building houses a credit union,

AGCO

Jackson,
MN
(2011)

Business Development, Manufacturing, Rural

CDE(s): Midwest Minnesota CDC

AGCO is a leading global manufacturer of agricultural equipment, offering a full line of tractors, combines, hay tools, sprayers, and forage and tillage equipment, which are distributed in more than

Northern Star Council

Saint Paul,
MN
(2017)

Recreation, Youth and Families

CDE(s): Chase, University Financial Corp.

Owned and operated by Northern Star Council, Basecamp's mission is to serve all youth through field trips, lock-ins, retreats, summer camps, private parties, and community group activities.

Village on Rivoli

Saint Paul,
MN
(2021)

Affordable Housing

CDE(s): Community Housing Capital

Housing Project in Dayton’s Bluff neighborhood. Dayton’s Bluff Neighborhood Housing Services. A $7 million allocation will enable infrastructure on 32 lots and will rehab and construct 15 homes with 80%