Trail's Edge: Development
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Amenities
- Attached garages,
- Individual heating and air conditioning,
- Washer and dryer in unit.
- A computer lab and kitchen.
Trail's Edge Building Partners
- Tubman
- Sisters of St. Benedict
- Minnesota Housing
- Family Housing Fund, Ramsey County
- The Metropolitan Council
Residents Speak
Other Tax Credit Communities
- Bloomington Family Townhomes
- Valley Square Commons
- City Flats Apartments
- Granada Lakes Townhomes
For a full listing of our Tax Credit housing, visit the Section 42 page in the find housing section of our website. |
Located on the grounds of the monastery of the Sisters of St. Benedict, Trails Edge Townhomes are a joint project between the Sisters, CommonBond Communities and Tubman Family Alliance to address Maplewood’s need for affordable homes. The townhomes provide 48 homes for families earning less than 50% of median income. 4 units are designed for those transitioning from homelessness.
Financing Tools
Trail's Edge was financed through a number of sources, including Housing Tax Credits (HTC): The IRS gives investors a dollar-for-dollar reduction in their tax liability in exchange for the capital they provide for the construction, acquisition, and/or rehabilitation of low to moderate-income rental housing. The amount of tax credit they receive is directly based on the number of qualified low-income units that meet federal rent and income targeting requirements.tax credits, loans, fees, and affordable housing funds.
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Project Funding |
| Sources |
Totals |
| Limited Partner Equity - LIHTC |
$1,040,313 |
| Enterprise Equity |
$5,386,000 |
| Ramsey CDBG |
$550,000 |
| Metropolitan Council |
$300,000 |
| Deferred Development Fee |
$384,288 |
| HTF LTH |
$750,000 |
| FHF |
$150,000 |
| EDHC |
$613,633 |
| Total Financing |
$9,174,234 |
Building Trail's Edge Townhomes
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