Projects
Pullman - Building C
The next phase in Pullman Modern Urban Apartments in Santa Rosa’s Historic Railroad Square neighborhood.
This five-story building will add 40 one-bedroom units to the Pullman community, where residents will share amenities between the phases.
The project is under construction.
Stony Point Flats
New construction of 50 affordable rental apartments located in the Roseland neighborhood in Santa Rosa.
The unit mix will include 12 one-bedroom units, 24 two-bedroom units, and 14 three-bedroom units.
The three story, walk-up design incorporates a leasing office, clubhouse, and ample outdoor amenity options.
Phoenix is the developer, working in partnership with non-profit Integrity Housing.
The project is under construction.
Pullman
Pullman is among the first transit-orientated housing projects adjacent to the Sonoma-Marin Area Rail Transit station in Santa Rosa’s Historic Railroad Square.
Featuring 74 one and two-bedroom units ranging from 760 to 1,110 square feet.
Project amenities include heated pool, fitness center, gas fire pit, BBQ, lounge area, dog wash station, bike storage and bike repair station.
Units feature smart-home technology and keyless entry.
The project is currently leasing.
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 consists of 15 three-bedroom, 15 two-bedroom and 11 one-bedroom apartments.
The first floor includes 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 was the developer, working in partnership with non-profit Integrity Housing.
The project is complete and fully occupied.
Rice Street Flats
New construction of 41 affordable rental apartments located in Saint Paul’s North End neighborhood.
The unit mix consists 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 utilizes HOME funds along with tax exempt bonds and Low-Income Housing Tax Credits.
Phoenix acted as the developer, working with non-profit partner Community Housing Development Corporation.
The project is complete and fully occupied.
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 project is complete and fully occupied.
Atwell Grove Apartments
114 units across 5 buildings in Waite Park & Saint Cloud, Minnesota.
Natural Affordable Housing.
Acquisition/rehabilitation project.
The project is complete and fully occupied.
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 include: community building, children play facilities, classrooms for adult learning and after school care, raised-bed gardens for tenants, picnic and grill area.
Phoenix was the developer with two nonprofit partners, California Human Development (CHD) and Integrity Housing.
Funding sources included: 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 was the Developer, with nonprofit partner 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 $9,120,000.
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.
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.
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