A new affordable living community in Minneapolis Mill District, Ladder 260, is now open as progress continues redeveloping the city block.

Sherman Associates is welcoming residents to the property at 260 Portland Avenue, which delivers 90 new construction affordable homes. Ladder 260 is a $34 million project financed by RBC Community Investments, American National Bank, National Bank of Commerce, JLL, the City of Minneapolis, AFL-CIO HIT, Minnesota Housing, and the Metropolitan Council LHIA.

“We are eager to deliver this rare new construction affordable housing product to downtown Minneapolis,” said Chris Sherman, President at Sherman Associates. Ladder 260 is the second phase of Sherman’s multi-phase redevelopment of the majority of the city block. In phase one, Sherman completed a new Minneapolis Fire Station 1 for the City of Minneapolis in 2022.

O2 is a 240-unit, mixed-use luxury tower under construction on the corner of Washington Avenue and Portland Avenue and the final phase of the redevelopment, opening this fall with 5,500 square feet of retail space.

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with G. Joseph Cosenza, Vice Chairman of The Inland Real Estate Group, LLC and President of Inland Real Estate Acquisitions, LLC at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register Today to network with your peers!