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Two Mankato Housing Projects To Receive State Funding
By Darin Svenson|2020-12-18T05:35:24-06:00December 18th, 2020|
Two Mankato housing projects have received funding from the state as part of an initiative with the goal of increasing access to affordable housing in Minnesota. State officials say Rosa Place II, being constructed by Joseph Development LLC, will receive 8.2 million dollars in housing tax credits for a 51-unit complex, all being for affordable housing. The state says Sinclair Flats, being constructed by Cohen Esrey Development Group LLC, will receive 7.5 million dollars in housing tax credits for a 48-unit complex, with 38 of the units being affordable units.
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State officials onThursday announced funding for this new affordable housing building near downtown Mankato. All but 10 apartments in the proposed 48-unit Sinclair Flats building are to be reserved for people making 30-60% of the area median income.
The Neighborhood, a proposed $36 million affordable housing development, should begin construction by fall of 2021 after a portion of the project â the 48-unit apartment building (right) â was awarded state funding Thursday. The two buildings (left) aimed at seniors will be constructed a year later if state funding is awarded next year. The overall project also includes market-rate townhouses and possibly a preschool and day care.