Laserfiche WebLink
901 No 3rd Street, #150, Minneapolis, MN 55401 612-341-3148 Main 612-341-4208 Fax www.aeonmn.org <br /> <br /> <br /> <br />To City of St. Anthony <br />From Blake Hopkins, Vice President of Housing Development, Aeon <br />Date May 9, 2018 <br />Re Affordable Housing Development Proposal – 2401 Lowry Avenue NE <br /> <br /> <br />Aeon is an award winning non-profit developer, manager and owner of high quality <br />affordable housing. We have been working in the Twin Cities Metro for over 32 years and <br />currently have approximately 3,900 apartments in our portfolio which provide housing for <br />over 8,000 Minnesotans. <br /> <br />Project Concept: <br /> <br />‐ 70 units of primarily large, family apartments within one building located at 2401 Lowry <br />Avenue NE, St. Anthony, MN 55418 <br /> 18 3-bedroom units <br /> 36 2-bedroom units <br /> 16 1-bedroom units <br />‐ The four-story building would be set back from Lowry Ave NE and be a L shape running <br />alongside Stinson Parkway and the property’s northern boundary. Walk-out units would <br />face the parkway and amenity space would include a community room, fitness center and <br />outdoor patio. <br />‐ Income ranges: <br /> 4 units will serve households earning up to 30% AMI <br />o All four 30% AMI units will be one-bedroom apartments. Example incomes <br />can range up to $19,830 for a 1 person, or up to $22,650 for a family of 2. <br />o All of the 30% units would be assisted by Group Residential Housing (GRH) <br />subsidies serving individuals who have experienced homelessness. <br /> 39 units will serve households earning up to 50% AMI <br />o Example incomes can range up to $33,050 for 1 person, or up to $47,150 for a <br />family of 4. <br />o 4 of the 50% AMI units will be reserved for households with disabilities. <br /> 27 units will serve households earning up to 60% AMI <br />o Example incomes can range up to $39,660 for 1 person, or up to $56,580 for a <br />family of 4 <br /> <br />43