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Ron Clark Construction and Design and Seven Scott Management, Inc., held the grand-opening and ribbon-cutting ceremony of their new housing development in New Hope, Minnesota, Compass Pointe Apartments, on Aug. 10.

Ron Clark Construction and Design and Seven Scott Management, Inc., held the grand-opening and ribbon-cutting ceremony of their new housing development in New Hope, Minnesota, Compass Pointe Apartments, on Aug. 10.

Compass Pointe is a workforce-housing development of 68 apartments. The development features a community room, fitness center and outdoor playground with basketball court. The apartments offer underground garages, washer/dryers and spacious floorplans, with rents ranging from $710 to $980 a month.

The building is 85 percent occupied, with the remaining apartments leased for Sept. 1.

Funding for Compass Pointe came from Low Income Housing Tax Credits provided by the Minnesota Housing Finance Authority. Additional funding sources included Wells Fargo and the City of New Hope.