Catholic Charities of St. Paul and Minneapolis: Exodus 2.0 Project

New Markets Tax Credit Coalition

Minneapolis,
MN
(2020)

Catholic Charities of St. Paul and Minneapolis: Exodus 2.0 Project

Behavioral Health, Community, FQHCs, Healthcare, Historic Rehabilitation, Hospitals and Emergency Services, Housing, Mixed-use, Nonprofit Hub, Shelters and Community Food, Supportive Housing, Veterans Services

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.

Investment

NMTC Amount: $18,500,000
Total Project Cost: $20,193,500

IMPACT

185 FTE jobs
87 construction jobs
800 patients served
The project will serve 1,790 people per year (including 800 new healthcare patients per year),
19,000 sq. ft. of real estate

CDEs

Corporation for Supportive Housing, University Financial Corp., USBCDE

Investor

US Bank

Project Description

Rehabilitation of a 190,000 sq. ft. building for the development of a mixed-use project to include 46,929 sq. ft. for medical respite, transitional housing, healthcare, and social services. The project is co-located with 167 supportive housing units serving those that are chronically homeless. NMTC financing supported:

30 new medical respite beds for those that are homeless with complex medical conditions that are exiting hospitals
6 transitional SRO housing units for veterans exiting the VA Hospital
a 4,200 sq. ft. Federally Qualified Health Center
27,100 sq. ft. of other supportive service and office space that will provide primary, mental and behavioral healthcare, and other supportive social services.

The project will serve 1,790 people per year (including 800 new healthcare patients and 2,000 new patient visits per year), and will create 87 new construction jobs and create and retain 185 FTE permanent jobs.

MAP

Address: 1007 East 14th Street, Minneapolis, MN 55404

Census Tract: 27053005901

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