Transit-Oriented Historic Rehab Provides Affordable Housing in Minneapolis

In a Minneapolis neighborhood where affordable housing needs are unmet and many historic buildings are demolished in favor of new construction, Dominium found a solution to address both issues. The Minnesota-based developer leveraged low-income housing tax credits (LIHTCs) and federal and state historic tax credits (HTCs) for its recently completed adaptive reuse of a 1920s factory and warehouse into Millworks Lofts.

Millworks Lofts re-opened Aug. 1 and achieved 100 percent occupancy of its 78 apartments within a month. The speedy lease-up indicated a pent-up demand for more affordable housing in Minneapolis, said Eric Omdahl, development associate for Dominium.