This thoughtfully designed community consists of a single residential building with 128 units, offering a range of affordability levels to meet the needs of low-and moderate-income seniors. The overall affordability averages 50% of the area median income (AMI), with 8 units set aside for households earning 30% AMI, 104 units at 50% AMI and 16 units at 60% AMI. The very low-income units (30% AMI) will benefit from rental assistance through a Section 8 Housing Assistant Payment (HAP) contract, ensuring long-term affordability for residents with the greatest financial need.
Senior residents will enjoy a variety of amenities designed to enhance their quality of life, including a club house, a parking garage, a game room and a dog park, fostering a vibrant and engaging community atmosphere.
Huntington Community Impact Capital (CIC) is providing $17.57 million in direct LIHTC equity to support the development led by Shafer Richardson, a highly regarded developer in the Minneapolis / St. Paul region. This is CIC’s third equity investment with Schafer Richardson, reinforcing a shared commitment to expanding affordable housing opportunities in the area.
By supporting this development, Huntington CIC is helping to deliver much-needed, high-quality and service-enriched housing for Bloomington’s senior residents, ensuring they have a safe, stable, and welcoming place to call home.