CommonBond Communities begins construction on The Lumin, the first affordable housing development in Saint Paul’s Highland Bridge
If you are interested in living at The Lumin please visit www.theluminapartments.com or call 877-302-6228
CommonBond Communities is proud to begin construction on The Lumin, which will provide 60 units of housing for seniors in the Highland Bridge development in Saint Paul. Residents will be people ages 62 and older who earn 30 percent or less of the Area Median Income (AMI). A project-based Section 8 subsidy allows residents to pay 30 percent of their income in rent. Seven units will be reserved for formerly homeless seniors. The Lumin will open in fall of 2023.
Located at the intersection of Cretin and Bohland avenues, The Lumin is the first of 10 planned affordable rental developments at Highland Bridge. The property will include a wellness room, a community room, and bike storage. It will also feature sustainable building elements to reduce energy, water consumption, and carbon emissions.
“Highland Bridge is going to be an incredible place to live. We are thrilled to make the Highland Bridge experience accessible to a range of Saint Paul residents, including seniors with limited income,” says CommonBond Communities President and CEO, Deidre Schmidt. “This senior housing will foster wellness, community, and connection. We look forward to seeing The Lumin, and future developments, provide safe, stable housing for many who need it.”
Ryan Companies US, Inc., Highland Bridge’s master developer, is the general contractor for The Lumin; Ryan A+E, Inc. will serve as the civil engineer; and LHB, Inc. is the architect. Highland Bridge is a 122-acre mixed-use development on the former site of Ford Motor Company’s Twin Cities assembly plant. The development will include 3,800 housing units, 265,000 square feet of employment and institutional space, approximately 150,000 square feet of retail space, and 55 acres of public and open space.
The Lumin will be financed with a LMIR First Mortgage from Minnesota Housing and four percent Tax Credits. In addition, the project was awarded 60 Project Based Vouchers (PBVs) from the St. Paul Public Housing Agency, along with $4.5M in Capital Improvement Bond financing from Ramsey County. The City of Saint Paul has also established a Tax Increment Financing (TIF) district and the project will benefit from the increment generated by both the market rate and affordable buildings at Highland Bridge. CommonBond is committed to supporting resident stability through quality, affordable housing with individualized services and plans to create more housing options for low- and moderate-income residents.
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About CommonBond Communities: CommonBond Communities believes a home is the foundation for everything in life. Our mission is to build stable homes, strong futures, and vibrant communities. CommonBond has been building and sustaining homes with services for families, seniors, veterans, and people with disabilities since 1971. For more information, visit commonbond.org.
About Ryan Companies: Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, designer, builder, capital markets advisor and real estate manager with a focus on creating places for people to thrive. Ryan work spans a wide range of sectors and product types including healthcare, hospitality, industrial, mixed-use, multifamily, office, retail, and senior living. Built on the foundation of integrity, honesty and community, Ryan has grown to more than 2,000 team members in 17 offices and has completed projects in nearly every state. For more information, visit ryancompanies.com.
