Multifamily W Minnesota

Lupe Development to build affordable housing project in Minnesota

Lupe Development moving ahead with affordable housing project,ph01

Lupe Development Partners is accelerating its start date for the first phase of an affordable housing development campus in the Lyn-Lake community of Whittier, Minnesota, after receiving two critical funding contributions from local partners.

The Metropolitan Council recently awarded the project a $1.2 million grant from its Livable Communities Demonstration Account, while the Minneapolis City Council approved a $2.375 million loan from its Affordable Housing Trust Fund.

The first of two buildings will be located at 410 W. Lake St., and will include 111 affordable housing units including nine intended for homeless veterans. Lupe Development is partnering with Hennepin County and the nearby Ballentine VFW Post 246 to serve homeless veterans with safe housing and services. Construction on phase two – an identical building – is scheduled for a 2020 start date.

The proposed phase one development would include a mix of studio, one- and two-bedroom units. To be eligible for the housing, residents will need to meet income restrictions of $30,000 to $42,000 a year. Located close to the Midtown Greenway, the proposed development will feature a green roof, solar panels, a fitness facility, a business center, community rooms, outdoor decks, and a bike room with a repair station.

Phase one plans were approved by the City of Minneapolis in August 2018. Construction is expected to begin in Spring 2019 with leasing beginning in 2020.