This property is the proud recipient of the Business Journal’s Best in Real Estate for 2013 in Affordable Housing. This prestigious award exemplifies our mission within this industry. We are thankful to everyone that participated in this process and we are excited to offer such a fantastic product to the Minneapolis market.

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Sherman Associates closed on financing for a 178 unit multifamily development named West Side Flats the week of November 19^th.  Construction will commence immediately with initial occupancy scheduled for the winter of 2014.  Eight years in the making, this development will help meet the strong demand for more market rate rental opportunities in St. Paul, MN.

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On Friday, October 19, 2012, Sherman Associates closed on the 62-unit Stradford Flats renovation project.  Located adjacent to one of Minneapolis’s most high-demand neighborhoods, Loring Park, the project consists of 62 apartments that participate in the Low Income Housing Tax Credit Program.  The complete renovation of this building required the temporary relocation of some 37 households, a project which built on the high profile experienced gained during the recent renovations of 1303 units at Riverside Plaza.  The community is scheduled to begin leasing February, 2013.

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On Friday, November 2, 2012, Sherman Associates closed on the 60-unit Harrison Lofts project located in Davenport, Iowa. The project consists of 54 apartments that participate in the Low Income Housing Tax Credit program along with 6 market rate homes.  The community is scheduled to begin leasing mid year, 2013.

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George Sherman was quoted as being “probably one of the most experienced users of historic tax credits for development” in a recent article in the Minnesota Real Estate Journal.  The specific program discussed, the Minnesota Stat Historic Tax Credit program, began in May of 2010 and was a major funding element of several Sherman Associates projects including the Midtown Exchange Apartments & Chicago Lofts and the more recent $132 million renovation of 1,303 units at Riverside Plaza.  George shared his views on the program and it’s potential future in the article below:

Read Full Article»

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Sherman Associates, along with its project partners celebrated the Grand Re-Opening of Riverside Plaza on October 10th.  After two years, $65 million in construction, and the temporary relocation of some 5,000 residents, the project has been hailed an immense success.  An occupied rehab of a project this size has never been accomplished in such a fashion and the accolades for Sherman Associates and the project staff have been tremendous.

View the Project Video»
Read the Insight News Article»
View Riverside Plaza on Sherman-Associates.com»

View a gallery of photos from the event below:

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On Friday, August 31, 2012, Sherman Associates closed on the $28.5 million Longfellow Station project, which will provide both affordable and market-rate housing to the growing Hiawatha Light Rail corridor.  The 180-unit, mixed-income property utilized Low Income Housing Tax Credits (LIHTC), traditional financing and numerous other local, county and state programs to leverage the funds needed to complete the 14-month construction.  Longfellow Station will provide an affordable and attractive community for one of Minneapolis’ most rapidly evolving neighborhoods.

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On August 15th, Sherman Associates, The City of Waterloo, AEGON USA, the Iowa Finance Authority, community residents and more celebrated the the Grand Re-Opening of the historic Russell Lamson building.  The two-phase occupied rehab project has restored the building to its former glory and preserved it as an important source of affordable housing in downtown Waterloo.  View photos of the event and showcased apartment homes below:

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Heritage Park, the culmination of a partnership between the Minneapolis Public Housing Authority (MPHA) and Sherman Associates, has been singled out by the Novogradac Journal of Tax Credits as the subject of its most recent cover article. Sherman Associates acted as fee developer in the highly acclaimed project which is the first of its kind.

Read the full Novogradac article here»
Visit the Novograda Journal of Tax Credit’s website»

View a gallery of photos of the project below:

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This Wednesday, August 15th, Sherman Associates will be celebrating the Grand Re-Opening of the Russell Lamson in Waterloo, Iowa.  This 90 unit, former hotel is listed on the National Register of Historic Places and has operated as a rental housing community for a number of years.  Sherman Associates’ major renovation has brought this property back to its former glory and sustained an important part of Waterloo’s history.  The Grand Opening Event will take place from 3:30 p.m. to 6:00 p.m. on Wednesday, August, 15th.  The event will include a formal ceremony with speeches by Mayor Buck Clark, George Sherman and more and is open to the public.

Learn more about Russell Lamson»
Read the recet WCF Courier article on the Russell Lamson»

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