09.04.12 | Tags: Apartments, Constuction, Development, Finance, Leasing, Lofts, Minneapolis, Minnesota, Sherman Associates, Tax Credit
Sherman Associates closes on $28.5 million Longfellow Station project
Sherman Associates, Inc.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.
MinnPost: Minnesota tax credits give a financial boost to film producers, historic preservationists … and big insurance companies
President Chris Sherman explains the utilization of tax credits for Sher [...]