Fort Snelling Housing Developer Says Project’s Prospects Looking Up
A plan to turn 26 long-abandoned historic buildings at Fort Snelling’s Upper Post into affordable apartments could be closer to reality, the project’s developer said this week.
Plymouth-based Dominium is now confident financing will fall into place for the 200-unit development, though estimated project costs are soaring.
Dominium vice president Owen Metz said the project did well in a recent lottery for the distribution of federal housing bonds and should get them later this year.
“We're more optimistic the development will have the sufficient financing in place,” he said.
That contrasts with what Dominium was saying about a month ago. At that point, the company said it was unlikely to get government housing bonds needed to qualify for crucial federal housing tax credits.
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