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Ground broken on multi-family project in Minnesota

DCN-JOC News Services
Ground broken on multi-family project in Minnesota
REAL ESTATE EQUITIES — Big-D Midwest and Real Estate Equities recently announced ground has been broken on a 110-unit, multi-family project in Minnesota.

ST. PAUL, MINN. — Big-D Midwest and Real Estate Equities recently broke ground on Vista Point, a $27.5 million, multi-family, affordable housing unit in Mahtomedi, Minn.

The project was designed by Kaas Wilson Architects and is slated to be completed in summer of 2023.

The 110-unit development will be comprised of one, two and three-bedroom units, with the majority of units slated for those making 60 to 80 per cent area median income (AMI) and 20 per cent of the units will be rented at market rate. The property will feature an attractive exterior design with modern amenities and high-quality interior finishes, in-unit laundry as well as a parking garage, fitness center, community room, playground and dog run, indicates a release.

“We are excited to continue this great partnership, as Vista Point marks our eighth project with Real Estate Equities and Kaas Wilson Architects,” said Big-D Midwest’s senior vice-president and managing director Cory Schubert in a statement. “In these difficult economic times this group continues to find creative and cost-effective ways to build units that provide a market rate feel and are priced at an affordable rate for Mahtomedi residents.”

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