Monday, November 25, CommonBond Communities and Frerichs Construction will
officially broke ground for the new West Broadway Crescent rental apartment
complex located at 2000 West Broadway in North Minneapolis. West Broadway
Crescent will be a three story rental building with 54 units occupying
2022-1926 West Broadway. All units will be affordable housing at 50% and
60% metropolitan medium income (MMI). Amenities of the rental complex
will include a pocket park, bike racks, an enhanced transit stop, and a tot lot
as well as art elements incorporated into the building design.
West Broadway Crescent will have free services available through an onsite
CommonBond Advantage Service Center. The center will offer a variety of
services including connections to local community resources. The services
are custom designed for youth, seniors, families, and people with disabilities.
The specific services that West Broadway Crescent Advantage Service Center will
offer will depend on its residents’ needs.
recognizes the compelling need for affordable housing in North Minneapolis. We
are excited to partner with the City of Minneapolis, the Basilica of Saint
Mary, and all of the other financial and construction partners to bring
together a very important housing community that will help revitalize the
area,” said Paul Fate, President & CEO of CommonBond Communities.
In 2007, the
City’s vision began to take shape for the Penn and West Broadway area and it
began aggressively acquiring land in the area known as “The Curve.” In
total, the City owns more than 20 contiguous parcels on The Curve, ten of which
were sold to CommonBond for the West Broadway Crescent project.
provided financial support in addition to land for the project including
$1,095,000 from the Affordable Housing Trust Fund (AHTF) and $3.8 million in
tax exempt housing revenue to finance the project. The City also provided
strong support for CommonBond’s Livable Communities Demonstration Account
(LCDA) and Local Housing Incentives Account (LHIA) applications with the
Metropolitan Council, which resulted in a $1 million award and $300,000 award
respectively. Passionate about the development of more affordable housing
projects in North Minneapolis, the Basilica of Saint Mary also provided $1
million in support for the project.
committed to partnering with organizations that help the City grow,
particularly, North Minneapolis while ensuring our residents have access to
high quality, affordable housing options like this development.” said Tom
Streitz, City of Minneapolis Director of Housing Development and Policy. “This
project is a win for everyone and an example of the exciting transformation and
rebuilding taking place in North Minneapolis.”
investments planned for the Penn and West Broadway Area include a $6 million
expansion on the Capri Theater. The expansion will include adding a green
room and a black box performance space to the famous jazz theater. At the
northwest corner of Penn and West Broadway, former home to a Burger King, a $21
million mixed use building is being planned by Dean Rose. Construction is
set to begin in 2014. The rest of the block bookended by the Capri and
the 5 Points is ready for redevelopment as well. The City issued a
Request for Proposals in October for the land.