The Cooperage Real Estate Case Study
HUD-Subsidized/Urban Redevelopment
CommonBond’s development of The Cooperage created 60 new units of affordable housing for seniors aged 62 and older, adjacent to the Blue Line Light Rail Transit line and well-connected to trails. It’s CommonBond’s first project to feature solar panels that meet the electricity needs of the building’s common areas, and is one of the first two mixed-financing HUD 202 projects in Minnesota.
Project Financing
- Minnesota Department of Employment and Economic Development
- Federal Home Loan Bank
- Hennepin County
- HUD 202 Capital Grant
- HUD Predevelopment Grant
- Metropolitan Council
- Tax Credit Equity
Total Development Sources
$
0
Amenities
- Smoke-free building
- Elevator
- Handicap-accessible units available
- Laundry facilities on each floor
- Community room with kitchen
- Underground parking available
- Easy access to bus lines and bike trails, shopping, services, and faith communities
- Indoor bicycle storage
