50 unit affordable housing project coming to Mankato in 2018
- CommonBond Set to Break Ground on its First Affordable Housing Property in Mankato
- St. Paul-Based Nonprofit Adds Quality Housing for Lower Income Residents
- 12 one bedroom apartments, 25 two bedroom units, 13 three bedroom units
- Seven apartments reserved for households currently experiencing homelessness
- Five HUD Section 811 units, which are reserved for people with disabilities
MANKATO, MINN. – CommonBond Communities, the largest nonprofit in the Upper Midwest that owns and manages affordable housing, recently finalized plans for Dublin Crossing, a 50-unit new construction development located near Madison East, at 920 Patriot Ave, in Mankato.
Dublin Crossing, scheduled to open in the summer of 2018, will feature 12 one-bedroom apartments, 25 two-bedroom units, and 13 three-bedroom units. Seven apartments will be reserved for households’ currently experiencing homelessness. Common areas will include a community room, computer lab and playground. The property will also feature five HUD Section 811 units, which are reserved for people with disabilities – a first for Mankato.
“Given Mankato’s robust and growing economy, there’s currently a less than two-percent vacancy rate for affordable housing – making this property extremely important in meeting the needs of area residents and employees,” said Deidre Schmidt, CEO of CommonBond. “Just as importantly, we couldn’t do this work without the local contributions of the city and county.”
The Minnesota Housing Finance Agency selected Dublin Crossing in part due to the need for additional workforce housing in the Mankato area. Local employers pledged over $12,000 in donations to the project because of the need for quality, affordable rent for their workers.
“Partnerships are essential to meeting the affordable housing needs of communities,” said Nancy Bokelmann, housing and community development manager for the City of Mankato. “Locally, this project represents a partnership between the State of Minnesota, the City of Mankato, Blue Earth County and CommonBond. We’re excited to work with civic innovators that provide quality housing for our residents while also helping support the needs of our dynamic economy.”
The housing community will be situated in the fast-growing Northeast Mankato neighborhood, which is close to schools, medical facilities, businesses, and retail.
Financing also came from the Minnesota Housing Finance Agency, Enterprise Community Partners and the Greater Minnesota Housing Fund.
CommonBond Communities believes home is the foundation for everything in life. Our mission is to build stable homes, strong futures, and vibrant communities. As the largest nonprofit provider of affordable homes with support services in the Upper Midwest, CommonBond has been building and sustaining homes with services for families, seniors, and individuals with disabilities since 1971.