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| Property & City: |
Stonehouse
115 W Minnesota Street
Cannon Falls, MN 55009
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| Type: |
Historical Rehabilitation |
| Occupancy: |
Senior Housing |
| Units: |
32 |
| Complete: |
1995 |
| Management Company: |
MetroPlains Management/ 701-662-4776 |
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Exterior
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Entrance
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Parking
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Exterior 2
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| Summary: |
This former school complex has been well maintained since its construction in the 1890s. The facility has been converted into full-sized one-bedroom apartments complete with combined living and dining areas, full kitchens, vaulted ceilings, bathrooms, bedrooms and closet/storage areas, congregate dining, and attached senior center.
Sources of Funds
HOME Funds $448,000
Affordable Housing Program $ 75,000
Conventional Financing $454,000
TIF-City Participation Through $ 37,000
Tax Increment Financing
Equity Raised Through Historic & LIHTC $1,200,000 |
