Apartment, Commercial

Lincoln Park Apartments

Type: Rehabilitation, Acquisition, Mixed-use Conversion
Role: Developer, Owner
Building Space: 50 Total Units: (43 Affordable Units, 7 Long-Term Homeless Units)

Project Value: $10 Million
Financing: Minnesota Housing Finance Agency Tax Credits, Conventional, Duluth Economic Development Authority (DEDA) Grant, Duluth Housing & Redevelopment Authority (HRA) Assistance
Location: Duluth, MN
Year Completed

Overview / Details

Lincoln Park School was originally constructed between the years of 1888-1889, serving the Duluth area for over 100 years before it closed following the 2010-2011 school year.

Sherman Associates acquired the property in September 2011. Along with local partners, Sherman came up with the vision to preserve Lincoln Park’s long history as a community asset by transforming the former school into 50 affordable apartment homes, 7 of which are reserved for persons dealing with long-term homelessness, and over 50,000 SF of low-cost space for four area non-profit organizations.

Utilizing tax credits, grant money, conventional financing and assistance from other public entities, Sherman Associates succeeded in bringing Lincoln Park School Apartments to fruition. The newly re-purposed property opened its doors in the summer of 2015.

Cooperation and collaboration on the local and state levels was critical to the success of Lincoln Park School Apartments.

Residents of Lincoln Park School Apartments are now able to enjoy spacious and affordable apartments that are a blend of modern features and historical details such as terrazo flooring, chalkboards, and oversized windows. Residents also enjoy a 24-hr fitness center, laundry, media room, and community room.

Commercial Space

50,000 SF (Community Action Duluth, Duluth Human Development Center, Lincoln Park Children and Families Collaborative, Boys & Girls Clubs of Northland)