Project Value: $1.8 Million
Overview / Details
Located in Duluth, Minnesota, the renaissance revival Irving School building was originally completed in the late 1800s.
The impressive 3-story building served as a school until 1982 when the Duluth School District put the building up for sale. In 1993, a private developer transformed the building into a LIHTC property creating 44 apartment homes.
In 2011, using conventional financing, Sherman Associates acquired the property, investing additional funds into unit and grounds upgrades. Given Sherman Associates’ proven track record for the successful development, ownership, and management of affordable housing, they felt confident that the acquisition would be a positive addition to their growing portfolio.
Today, Irving School retains much of its historical significance and detail. Throughout the property original masonry, iron staircases, stained glass, built-ins and woodwork can be found. Thin-plank wood flooring meets modern apartment amenities such as updated kitchens and large closets, while oversized original windows flood the units with light.