CommonBond’s Continued Expansion Efforts across the Midwest
With the economic repercussions of COVID-19 continuing to threaten the health of our communities, the need for homes that are safe and affordable is more urgent than ever. In the face of great instability for so many renters across the country, CommonBond Communities remains deeply committed to providing supportive services along with safe, stable, affordable homes for neighbors across the Midwest.
In spite of the many unforeseen challenges that the pandemic has introduced this year, we are in the midst of a great expansion that includes several key acquisitions, new construction, and affordable housing efforts in the Twin Cities, Iowa, and Wisconsin—resulting in 900 more units of affordable housing for communities across the region!
Our newest acquisitions include Willow Wood Estates and Owasso Gardens in the greater Twin Cities area (artist rendering of Owasso Gardens shown above). Also in Minnesota, we recently opened Headwaters Landing in Forest Lake, which leased up faster than any other new property in our portfolio.
We are also very excited to be involved in the Highland Bridge site (former Ford Site) in St. Paul, which recently celebrated its virtual groundbreaking. Our first development on that site will be an affordable housing community for seniors.
In May, we celebrated the opening of Point Place, a new senior community and our first property in Madison, WI. We also recently acquired and closed on rehabilitation financing for Meadow Village, a 90-unit Section 8 family housing community in the north central part of Milwaukee.
We also recently opened our second housing community in Waterloo, Iowa, called Greenhill Point. We deeply appreciated the tax credits from the Iowa Finance Authority and the invitation to return to the Waterloo community to provide 47 new apartment homes for families.
For more details on our continued expansion efforts around the region, check out the Star Tribune article below!