Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Dominium’s Weyerhaeuser Redevelopment Lands Financing
U.S. Bank has closed on two tax-credit financing packages of more than $45 million with Dominium to develop the former Weyerhaeuser lumber site in St. Paul, MN into 362 affordable-housing apartments. The development will include 241 affordable units for seniors and 121 for families.
“Dominium is a great steward of the tax credit program as exemplified by this deal,” said Kyle Kochtanek of U.S. Bancorp Community Development Corporation. “By seamlessly integrating 362 affordable housing units into St. Anthony Park, they are giving a number of residents the opportunity to live in a great Twin Cities location who otherwise might not be able to.”
VP Owen Metz of Dominium said the Weyerhaeuser redevelopment will be “the largest new construction project we have done to date, and it would not have been possible without USBCDC as our development partner.” Dominium will immediately start construction, with an anticipated completion date in early 2020.
Get Chicago News in 150 WordsFor comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Development
