LE SUEUR — An affordable housing project could begin construction in Le Sueur within the first quarter of this year.
Following up on the Le Sueur Meadows housing project in 2002, CommonBond Communities is partnering with the National Affordable Housing Trust, or NAHT, on a second phase with UnitedHealthcare investment.
The plans for Le Sueur Meadows II include 39 more units, eight of which will be targeted toward people experiencing homelessness and people with disabilities, said Paul Cummings, senior vice president of NAHT.
“It’s a credit to CommonBond to really make the commitment to identify places where the need is there,” he said.
CommonBond, a St. Paul-based affordable housing nonprofit, was behind Mankato’s Dublin Crossing and Dublin Heights projects in recent years. The apartments added 95 units and had services available on-site to assist residents.
Le Sueur Meadows II will be much the same. CommonBond Housing will offer services ranging from financial accounting to building maintenance to connecting residents to social services.
The nonprofit has a great track record in Minnesota and neighboring states, Cummings said. He anticipated construction would start in Le Sueur in the coming months.
“I would expect that by the end of the first quarter, so before the end of March, they’ll get going,” he said.
The goal would be to complete construction by the end of this year. Residents could then begin their leases in early 2022 if all goes as hoped.
CommonBond manages 152 properties with 54 of them managed by third parties. NAHT partnered with CommonBond on four recent developments including the one in Le Sueur.
“We deeply appreciate our partnership with NAHT to provide 39 new homes for families in the city of Le Sueur,” stated Cecile Bedor, CommonBond’s executive vice president of real estate. “The committed and talented team at NAHT genuinely shares our vision and values.”
Cummings credited CommonBond and UnitedHealthcare with pursuing and investing in the project.
“It’s great that there are organizations like CommonBond who are really trying to help create and preserve more quality affordable housing,” he said. “ … It says a lot about an investor like UnitedHealthcare to come in and invest in their backyard.”