CommonBond is an expert in creating affordable homes and thriving communities through smart real estate decisions and collaboration, and we’ve been in the business of developing homes and communities since 1971. As one of the most effective nonprofit developers and managers of affordable housing in the Midwest, we are best positioned to address the critical need for more affordable housing in our region.
From historic preservation to collaborative partnerships with small community- or faith-based organizations, CommonBond has been recognized for excellence in affordable housing development.
As real estate developers who provide high-quality affordable housing opportunities, we are also intensely focused on being long-term owners with strong asset and property management expertise. We are good neighbors and our presence in a community makes a difference. We go beyond effectively managing our properties, too – we provide supportive services to help residents achieve stability and independence, and we build and maintain important relationships with cities, public agencies, faith communities, and community organizations.
Our Acquisition & Development team is the backbone to how we approach affordable housing real estate, as they handle all aspects of the development process including:
We see the importance of stability in our resident’s lives, and also in the neighborhoods in which we own properties. Because of this, our nonprofit developers focus on “forever-properties,” meaning we don’t intend to sell these properties to other organizations or developers over time. It is important for our communities to create thriving neighborhoods for the long haul.
This 47-unit family housing property is part of a major community development effort in Ramsey, Minnesota to bring jobs, expand the regional economy, and provide easy access to parks, trails, shopping, and the Northstar Commuter Rail. It offers a mix of one-, two-, and three-bedroom units. Sunwood Village is reserved for households earning 30% to 60% of the area median income.
Lexington Commons offers 48 efficiency apartments. It’s designed for single adults who meet the state definition of long-term homelessness, and single adults who meet the federal definition of chronic homelessness. An adaptive reuse of a former nursing home built in the 1960s, Lexington Commons was designed to achieve LEED certification.
The purchase of Boulder Ridge is the first of many in CommonBond’s deliberate effort to counter the loss of affordable housing options. Boulder Ridge was the first naturally occurring affordable housing (NOAH) acquisition through our CommonBond Housing Opportunity Fund. It provides affordable housing for those with low to moderate incomes.
The Cooperage is a new construction project in Minneapolis that provides 60 units of housing for seniors ages 62 and older. Conveniently located within ¼ mile of a Central Corridor Light Rail Transit stop, it’s also connected to trails. This is CommonBond’s first project to feature solar panels. It’s also one of the first two mixed-financing HUD 202 projects in Minnesota.
CommonBond developed the first senior community in Milwaukee’s Pabst Brewery redevelopment area, which has become Milwaukee’s newest sustainable historic neighborhood. The redevelopment of the former Pabst Brewery Company includes two major university centers, offices, apartments, a hotel, and restaurants. Brewery Point provides seniors aged 55 and older with affordable homes in the central business district with panoramic views of downtown Milwaukee, in a supportive community setting.