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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.

Development Partners

City of Minneapolis
Enterprise Community Partners
Hennepin County
Metropolitan Council
Minnesota Housing Finance Agency (MHFA)
Minnesota Department of Employment & Economic Development
Seward Redesign

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: $14,267,549


• 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 & Faith Communities
• Indoor Bicycle Storage

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