Flats at Malcom Yards Grand Opening

Friday, August 18th, 2023

There was a lot to celebrate at the Flats at Malcolm Yards grand opening event last week. The new affordable housing community, providing much needed housing to the Malcolm Yards neighborhood.

Representatives from the development group at Wall Companies and Lupe Development Partners, and Minneapolis Mayor Jacob Frey spoke about the importance and impact of this project on helping to fill the gap in affordable housing.

“Since the beginning of my first term, affordable housing has been a top priority,” said Minneapolis Mayor Jacob Frey at the project’s 2022 groundbreaking. “Having a safe place to call home is a basic human right and something that every person in our community needs to have. The Flats at Malcolm Yards is an extraordinary example of how affordable housing can be thoughtfully integrated into major mixed-use developments. This will be lifechanging for families and individuals in our community, including those experiencing long-term homelessness.”

The RE Business Online featured the Flats’ completion milestone.

The Flats features a mix of studios, one- and two-bedroom units, all of which are reserved for residents who earn 60 percent or less of the area median income. Amenities include underground parking, a fitness center, business center, coffee bar and sky lounge with views of the Minneapolis skyline. The development is situated near the Green Line LRT station and the University of Minnesota transitway.

The project received funding support from the City of Minneapolis Affordable Housing Trust Fund and the Minnesota Department of Employment and Economic Development as well as Hennepin County’s Affordable Housing Incentive Fund, Transit Oriented Development Program and Environmental Response Fund. Other investors include Allianz Life and R4 Capital, which was the tax-exempt lender.

PROJECT TEAM

  • Development Team: Wall Companies and Lupe Development Partners
  • General Contractor: Frana Companies
  • Architect: Pope Design Group
  • Interior Designer: Pope Design Group
  • Structural Engineer: Ericksen Roed & Associates
  • Civil Engineer: Stantec
  • Landscape Architect: Tushie Montgomery Architects
  • MEP Engineer: Emanuelson-Podas

 

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