Lupe Development Partners announced today it has closed financing and will break ground on the first phase of its housing campus in the Lyn-Lake area, marking a major milestone in the project’s development. Located at 410 W. Lake Street, the first of three buildings will include 111 affordable housing units with nine units intended for homeless veterans.
Lupe Development is partnering with Hennepin County and the nearby Ballentine VFW Post 246 to serve homeless veterans with safe housing, programming and services. To be eligible for housing, residents will need to meet income restrictions of $30,000 to $42,000 a year. The development will include a mix of studio, one- and two-bedroom units. Construction on a second identical building – phase two of the project – is scheduled to begin in 2020. Plans are currently underway for a third building at the northeast corner of Garfield Avenue and West Lake Street.
Read more about the ground breaking in the Minnesota Real Estate Journal.