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Dutton Flats

  • New construction of 41 affordable rental apartments located half a mile from the Sonoma-Marin Area Rail Transit station in Railroad Square in Santa Rosa.

  • The unit mix will consist of 15 three-bedroom, 15 two-bedroom and 11 one-bedroom apartments.

  • The first floor will include a property manager’s office/leasing center, community room, computer center, mail room, fitness center, integrated bus shelter and bike kitchen with storage for residents.

  • Phoenix will be the developer, working in partnership with non-profit Integrity Housing.

  • Construction to begin in early 2020.


Rice Street Flats

  • New construction of 41 affordable rental apartments located in Saint Paul’s North End neighborhood.

  • The unit mix will consist of 20 three-bedroom, 12 two-bedroom and 9 one-bedroom apartments in a four-story building.

  • In partnership with the Saint Paul HRA, this project will utilize HOME funds along with tax exempt bonds and Low-Income Housing Tax Credits.

  • Phoenix will be the developer, working with non-profit partner Preservation Housing Trust.

  • The project is set to begin construction in 2020.


SloHi Flats

  • 44 affordable rental apartments with podium parking. The unit mix consists mostly of studio and one-bedroom units with some two- and three- bedroom units mixed in.

  • The overall project is four stories at its highest point, with three stories of housing above one level of enclosed on-grade parking.

  • The apartments feature luxury amenities including: an outdoor rooftop patio and sundeck: bike storage and a resident lounge.

  • All apartments feature granite countertops, stainless steel modern appliances, quality flooring, and in-unit washers and dryers. Security cameras, DirecTV distribution system, and controlled access complete the low voltage scope.

  • The target rental market is professional individuals and couples that enjoy close proximity to Sloan’s Lake and the shops and restaurants of the Highlands.

  • The project is complete and fully occupied.

Visit the SloHi Flats website to learn more »

Pullman Lofts

  • Pullman Lofts will be among the first transit-orientated housing projects adjacent to the Sonoma-Marin Area Rail Transit station in Railroad Square.

  • Featuring 72 one and two-bedroom units will range from 700 to 1,000 square feet. Two three-story buildings connected by walkways over 73 parking spaces. The complex will have a pool and recreation area.

  • The project plans to preserve the former Law Yeager lumber office at the intersection of Eighth and Wilson streets. It was built in 1947, and a consultant has deemed it an architecturally significant building. The one-story building likely will be turned into a co-op office space.

  • Construction is anticipated to begin early 2020.


Waite Park

  • 21 one-bedroom and 44 two-bedroom units.

  • Natural Affordable Housing.

  • Recently acquired and in the process of rehabilitation, with plans to keep rents affordable for local workforce in Waite Park, Minnesota.

Ortiz Plaza

Ortiz Plaza Family Apartments

An affordable housing development to meet the needs of Sonoma County’s changing farmworker population.

  • 30 two-bedroom, 1.5-bath rental units.

  • Amenities including: community building, children play facilities, classrooms for adult learning and after school care, raised-bed gardens for tenants, picnic and grill area.

  • Phoenix is the developer with two nonprofit partners, California Human Development (CHD) and Integrity Housing.

  • Funding sources include: USDA 514 Loan, USDA 521 Residential Assistance for 29 units (renter pays no more than 30% of their income for rent), Federal Tax Credits, CA State Farmworker tax credits, Loan from Sonoma County CDC, Tax exempt bonds (low floater with letter of credit from Exchange Bank), Permanent 1st mortgage from California Community Reinvestment Corp., and $690,000 in charitable donations

  • The project is complete and fully occupied.

Greenway Heights Family Housing

  • 42 affordable family housing units on the Midtown Greenway (Bloomington Avenue intersection) in the East Philips neighborhood of Minneapolis, MN.

  • The unit mix for the project is 2, 3 and 4-bedroom units (unheard of in the Minneapolis-St. Paul Metro).

  • Phoenix is the Developer. Our partner is the nonprofit PRG, Inc.

  • Greenway Heights received funding from eleven sources, including $1,050,000 from the City of Minneapolis in AHTF, and $1,260,000 from MHFA in deferred loans.

  • The project is complete and fully occupied.

  • Total project cost is $9,120,000.

Visit the Greenway Heights website to learn more »

Track 29 City Apartments

Track 29 City Apartments

  • 198 luxury market rate units on the Midtown Greenway (Bryant Ave intersection) in Uptown Minneapolis, MN.

  • Phoenix co-developed the project with RMF Group.

  • The project is complete and fully occupied.

  • Total project value of $47,500,000.

Visit the Track 29 website to learn more » 

BB Housing Renovation

BB Housing

To date, BB Housing has partnered with the City of St. Paul, MN to rehabilitate and rent eighteen multi-unit properties, with a 100% success rate. Together, Loren and his partner Michael Buelow have worked hand-in-hand with public officials to develop an innovative model for putting HUD / NSP funds to their best possible use, transforming dilapidated REO properties into quality affordable rental housing units.

Visit the BB Housing website to learn more »

LeSueur Meadows Apartments; 40 Affordable Units

  • CDBG funds

  • Tax Increment Financing

  • Housing Finance Agency Mortgage Funds

Guardian Angels Block Redevelopment; 32 Affordable Units & Battered Women's Shelter

  • 9% LIHTC credits

  • Housing Finance Agency First Mortgage

  • CDBG

  • Met Council Transit Funds

  • The Battered Women’s shelter was funded by an agency forgivable first mortgage.

Bottineau Commons; 119 Mixed-income Units

  • Tax Exempt Bonds (HUD 221 D4 credit enhancement)

  • 4% LIHTC credits

  • CDBG funds (recycled)

  • Tax Increment Financing

Bottineau Lofts; 34 Affordable Units

  • Federal Historic Tax Credits

  • Tax Exempt Bonds (HUD 221D4 credit enhancement)

  • 4% LIHTC credits, CDBG Funds (recycled)

  • Tax Increment Financing

River Run Apartments; 74 Mixed-income Units

  • Tax Exempt Bonds

  • 4% LIHTC Credits

  • Home Funds

  • Tax Increment Financing

  • Project Based Section 8

  • DEED Environmental Cleanup Grant


East Phillips Commons; 30 Affordable Units

  • Tax Exempt Bonds (HUD 221 D4 credit enhancement)

  • 4% LIHTC Credits

  • Neighborhood Revitalization Project funding (City of Minneapolis through the neighborhood group)

  • CDBG Funds (recycled)

  • Housing Trust Funds

  • Empowerment Zone Funds

  • Met Council Transit Funds

Central Avenue Lofts; Mixed-income/Mixed-use Project with 64 Units

  • 9% LIHTC Credits

  • Home Funds

  • CDBG

  • Housing Trust Fund

  • DEED Environmental Cleanup Grant

  • Conventional Mortgage

Phalen Senior Lofts; 73 Affordable Units rented to individuals over 60

  • Tax Exempt Bonds (HUD 221 D 4 credit enhancement)

  • 4% LIHTC Credits

  • Home Funds

  • Tax Increment Financing

Boulevard Apartments; Acquisition/Rehab of 235 Affordable Units

  • Tax Exempt Bonds

  • 4% LIHTC Credits

Highland Apartments; Acquisition/Rehab of 150 Section 8 Units

  • HUD 236 decoupling (IRP strip out)

  • Tax Exempt Bonds

  • 4% LIHTC Credits