The Square on 31st
Congratulations to Joseph Development on the recent completion of The Square on 31st, the rehabilitation of a 104-unit apartment complex formerly known as Rochester Square in Rochester, Minnesota. Rochester Square was originally constructed in 1971 and was one of the first Workforce Housing properties in the state. In August 2013, RS Apartments, Limited Partnership purchased the property with the intent of providing over $40,000 of rehabilitation per unit. Rehab began in September 2013 and recently concluded in the fall of 2014. Funding for this project came from Federal Tax Credits, State Housing Infrastructure Bond proceeds, Tax Exempt Bonds, Minnesota Housing deferred funding, and Greater Minnesota Housing Fund deferred funding.
For this project, MWF Properties served as development consultant for Joseph Development, LLC, providing site acquisition, financial management, construction management, and tenant relocation services.
Posted on Wed, October 15, 2014
by MWF Properties