Just Sold: Oakdale apartments draw $12.1 million
An entity related to Shakopee-based Nationwide Housing Corp. has sold the 175-unit Century Oaks apartments in Oakdale to a private investment partnership for $12.1 million...
...“It had plenty of interest,” Budish said of the affordable apartments, which had low-income housing tax credits expiring.
Bloomington-based Halverson and Blaiser Group Ltd. is managing the property.
Study: Conversions could help revitalize downtown St. Paul
Looking in part at the past to create a roadmap for the future, downtown St. Paul boosters are counting on office-to-housing conversions like the Pioneer Endicott project to create a more vibrant central business district.
In 2011, PAK Properties and Halverson and Blaiser Group Ltd. paid $1.1 million for the 1889-vintage, 350,000-square-foot Pioneer Endicott complex at 141 E. Fourth St. in downtown St. Paul and spent to $42 million turn the former offices into 234 apartments.
Marshall Avenue Flats advances in St. Paul
The development team of St. Paul-based Pak Properties and Halvorson Blasier Group LTD has started construction of Marshall Avenue Flats, a 98-unit affordable housing project first proposed about four years ago.
The $33.5 million project will bring a mix of one-, two- and three-bedroom units to a development site at 1606 Marshall Ave., according to a project fact sheet. Included are five three-bedroom units for households at or below 30% of area median income, 29 total units at 50% AMI, and 64 units at 60% AMI.
Opara set to build affordable housing in Brooklyn Center
Local developer Johnny Opara is nearing construction on what he calls a “luxury affordable” apartment building that’s been long anticipated in Brooklyn Center.
JO Companies, led by Opara, is building Wangstad Commons on four city-owned parcels with an emphasis on creating high-quality living with affordable rents. The four-story, 54-unit apartment will be highly amenitized and include family-sized units.