Initial Terms Set for New Brighton Apartment Project

New Brighton stands to make around $3.6 million from the sale of the former New Brighton Elementary School site, which will become townhomes and affordable apartments.

That’s according to term sheets approved on Jan. 22 by the New Brighton City Council. While the details aren’t yet final, the documents show that the plan is to add 358 affordable apartments and 54 owner-occupied townhomes to the roughly 12.5-acre location.

Concerns about overcrowding the neighborhood have shadowed the development through the planning stages, but officials say that affordable housing is a real concern for the city of about 22,000.

“One of the top issues we have is that there is not enough diversity of housing in terms of affordability,” said city council member Graeme Allen.

Terms

The term sheets approved by the council are outlines that allow initial work on the project to move forward before a final contract is reached.

The development plot includes land to the north and south of Old Highway 8 where it curves and meets Eighth Avenue NW. Two developers will work on the project.

Plymouth-based Dominium will handle the affordable apartments. The term sheets suggest that the company will build 204 apartments for seniors and 154 general apartments. The company will pay $8,000 per unit to the city.

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