Recovery funds help create housing and jobs for homeless youth
Ground was broken Nov. 12 for Nicollet Square, an innovative $9.2 million model of supportive housing and employment to help young adults transitioning out of homelessness or foster care become independent and economically self-sufficient. The project, located at 3700 Nicollet Avenue, is one of seven projects in Minnesota selected for federal stimulus funds from the Tax Credit Exchange Program. Plymouth Church Neighborhood Foundation is the developer.
The project received $5,486,922 in Recovery funding from the Tax Credit Exchange Program and $977,584 in funding from the City of Minneapolis Affordable Housing Trust Fund. The project also received stimulus funding from the Homeless Prevention and Rapid Rehousing program to provide supportive services to help youth maintain their housing stability.
The redevelopment, located on the site of the vacant Werness Brothers funeral home and parking lot, will provide 42 studio apartments and onsite supportive services provided by YouthLink. The building design also includes a coffee shop/bakery on the first floor, operated by Cookie Cart, to provide immediate entry-level employment for Nicollet Square residents.
The project, while under construction, will yield approximately 143 jobs in the construction field.
Other Affordable Housing Projects Underway
Creekside Commons, located at 103 54th Street, broke ground this fall, and is also being developed by Plymouth Church Neighborhood Foundation. The project includes $5,483,560 in stimulus funding, creating approximately 138 jobs in the construction field.
Nov. 12, 2009
Published Nov 12, 2009