A total of $9.1 million was secured and disbursed in state housing tax credit contributions for several CommonBond communities
Minnesota’s State Housing Tax Credit Program and Contribution Fund is a great way for eligible taxpayers to support the preservation and development of affordable housing throughout Minnesota while receiving a generous tax credit.
How does this program make a difference?
- It empowers taxpayers to direct their tax dollars to affordable housing projects
- It is a critical tool for housing preservation at a time when such options are limited.
- It allows housing operators like CommonBond to direct funding where it can make the most impact
Thanks to the generosity of individuals, organizations, and partners, we are proud to celebrate our most recent wins. A total of $9.1 million was secured in State Housing Tax Credit contributions for CommonBond’s West Broadway Crescent, TWV (Torre de San Miguel, Westminster Place, and Vista Village), Headwaters Landing, and St. Anne’s Senior Housing. This funding was secured over the course of several years of the program thanks to the generosity of many partners and friends of CommonBond.
We are so grateful to Choice Bank, Minnwest Bank, Old National Bank, and Securian Financial for their investment.
“Securian Financial is a proud contributor to the Minnesota State Housing Tax Credit and Contribution Fund because housing is vital to building secure tomorrows, which is our company’s purpose. Partnering on this effort with great organizations like CommonBond ensures we can dedicate our contribution to preserving and developing more affordable housing in our hometown community of St. Paul, where there is a particular pressing need.”
– Tariq Malik, Securian Financial second vice president for Human Resources and director of the Securian Financial Foundation
These contributions allowed us to pay off the first mortgage and/or fund reserves for these properties, which frees up money for repairs and deferred maintenance and, overall, provides financial stability for the property. This helps ensure our communities are running smoothly so that we can continue to provide quality affordable homes and stability for residents.
For example, tax credit investment allowed our Torre de San Miguel community in St. Paul to pay off a primary mortgage and secure funding for a major rehabilitation to begin later in 2026. We and Torre residents are thrilled that the community is receiving this major and needed investment!
Residents in these communities continue to have access to our wraparound Advantage Services. This includes connecting residents to critical resources such as healthcare, food, and transportation – supporting long-term stable housing and fostering community engagement – to help residents reach their goals and thrive.
Learn more about these communities:
- West Broadway Crescent
- $1.4 million secured in state housing tax credit contributions
- Date of closing: August 2025
- Location: North Minneapolis, Minnesota
- Resident population: Families
- Number of homes: 54 two- and three-bedroom homes
- Average household income: $29,837
- TWV (Torre de San
Miguel, Westminster Place, and Vista Village)- $4.6 million secured in state housing tax credit contributions
- Date of closing: October 2025
- Location: St. Paul, Minnesota
- Resident population: Families
- Number of homes: Torre: 142 two-, three-, and four-bedroom homes | Westminster: 99 one- and two-bedroom homes | Vistage Village: 48 one- and two-bedroom homes | 289 total homes
- Average household income: $22,097
- St. Anne’s Senior Housing
- $2.8 million secured in state housing tax credit contributions
- Date of closing: October 2025
- Location: Minneapolis, Minnesota
- Resident population: Seniors
- Number of homes: 61 one- and two-bedroom homes
- Average household income: $21,708
- Headwaters Landing
- $195,911 secured in state housing tax credit contributions
- Date of closing: November 2025
- Location: Forest Lake, Minnesota
- Resident population: Families
- Number of homes: 45 one-, two-, and three-bedroom homes
- Average household income: $35,858
If you would like to learn more about how you can support CommonBond through the Tax Credit program in 2026, please contact Phil Edwards at philip.edwards@commonbond.org.
