Hennepin County funding award lifts Snelling Yards inter-generational development in Minneapolis
Lupe Development Partners and Wall Companies announced they are moving forward with the Snelling Yards development, an inter-generational campus of senior and affordable family rental housing. The project is supported by $900,000 in funding through Hennepin County’s Affordable Housing Incentive Fund recently approved by the county board. Click here to download an updated rendering of the project.
Snelling Yards will include 90 units of family affordable housing with an emphasis on three- and four-bedroom units. The project is a joint venture with Ecumen, whose adjacent affordable senior housing development The Hillock is now 100% leased. Once the family affordable housing building is complete, the two properties will be joined by a green common space and outdoor “Tot Lot” paved playground for kids.
“We know there’s absence of affordable apartment communities with ample space for larger families and Snelling Yards is an excellent solution to that in the heart of the city,” said John Wall, president of Wall Companies. “The investment from Hennepin County is an encouraging sign that allows this project to move forward. We’re ready to seize this moment and deliver on our vision to create a multigenerational community at Snelling Yards.”
The development is located near the intersection of East 45th Street and Hiawatha Avenue in Minneapolis. The project site is a former City of Minneapolis Public Works storage area, and the development team is eager to remove the existing storage structures. Newly announced funding for the project has provided for an anticipated 2024 groundbreaking.
About Lupe Development Partners
Lupe Development Partners is a Twin Cities-based, women-owned enterprise that plans, develops and manages residential and mixed-use real estate in the Twin Cities urban core. Since 1989 the company has developed, owned and/or renovated more than 1,200 apartment or condominium units and more than 1 million square feet of retail, residential and industrial property. Lupe Development Partners has recently completed several affordable housing projects, including Lake Street Dwelling and Mill City Quarter in Minneapolis and East Side Apartments in Saint Paul.
About Wall Companies
Wall Companies has a long history of development in the Twin Cities. For nearly 60 years, the company has developed hundreds of residential units, and more than two million square feet of retail, office, and industrial property. Wall Companies is committed to developing diverse neighborhoods and sustainable buildings that enhance the lifestyles of those who live in them, while preserving community and quality. Recent projects include the Market at Malcolm Yards, an urban food hall, as well as The Flats and The Station, two new construction apartment communities that will open this fall in Malcolm Yards.