November 21, 2018 06:43 PM
The Minnesota Department of Natural Resources and development company plan to redevelop historic buildings at the Fort Snelling Upper Post into affordable housing, according to a news release from the department.
The DNR and Dominium, an affordable housing development company, plan to create 176 units of affordable housing. The DNR says preference will go to veterans and their families.
The project is expected to open to residents in 2021.
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The state will retain ownership of the site, but the management of the housing will be overseen by Dominium.
According to the release, the project is expected to cost $100 million and will be financed by a combination of low-income housing tax credits, federal and state historic tax credits, tax-exempt bonds and other resources. Dominium expects to finalize financing by summer or early fall of 2019.
Updated: November 21, 2018 06:43 PM
Created: November 21, 2018 11:38 AM
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