WNC Provides Nearly $2 Million in LIHTC Equity for Homeless Veterans in Suburban Minneapolis

MINNEAPOLIS — WNC has provided nearly $2 million in low-income housing tax credit (LIHTC) equity to fund the development of Linden Grove Veteran Apartments, a 37-unit affordable housing complex exclusively constructed for homeless veterans of the U.S. Armed Forces in the Minneapolis suburb of St. Cloud. The three-story building sits on six acres of land and is located at 4804 Veterans Drive. The apartments are part of the St. Cloud VA Health Care System and designated as permanent housing for low-income veterans who are homeless or at risk of homelessness. St. Michael Development Group LLC, a subsidiary of The Sand Companies Inc., developed the apartments. Affordable Housing Initiatives LLC served as the managing general partner of the project and Jamie Thelen as its developer.