Building Affordable Housing for the Workforce
By MILLE LACS CORPORATE VENTURES
Housing shortages across the state of Minnesota, as well as in many areas of the country, have hit historic levels and show signs of worsening. As this crisis escalates, Baby Boomers continue to age out of the workforce; deepening labor shortages that have already challenged employers in every industry from the pandemic.
Mille Lacs Corporate Ventures (MLCV) affordable housing projects started in 2018, when it certified and leased 28 townhome units in its first Low-Income Housing Tax Credit (LIHTC) project in Hinckley called Lady Luck Estates. The need was there in Hinckley to build quality, affordable housing options. That same need is ever-present for the Mille Lacs area, too.
In 2021, MLCV received a Low-Income Housing Tax Credit (LIHTC) award from the Minnesota Housing Finance Agency. In February 2022, MLCV closed with equity investor RBC Community Investments to begin construction on its latest affordable housing development — Red Willow Estates — a new housing development located in the heart of the Mille Lacs Tribal Economy in Onamia.
When complete, the development will have 15 duplex buildings to house 22 two-bedroom homes and 8 three-bedroom homes, right off of Highway 169. Development amenities include a community garden, a basketball court, a playground, and an outdoor gathering area with grills and a fire pit, picnic tables, and a covered shelter. Construction will begin Spring 2022, when road restrictions lift.
Leasing Information
Red Willow Estates will be managed by Circle Sage Property Management. Leasing will begin in fall 2022 and will continue until construction is complete in late spring 2023. Units at Red Willow Estates are open to anyone who meets income eligibility on a first-come, first-serve basis.
Interested applicants can complete a pre-application to determine eligibility. If eligible, the applicant is put on a wait list according to the date of their application. Pre-applications can be found at circlesage.managebuilding.com.
When selected, prospective tenants will be required to:
• Complete an application.
• Submit proof of identification for all members of the household (only U.S. citizens allowed).
• Submit proof of household income and assets, etc.
• Consent to release all relevant criminal information for each adult member of the family (criminal background checks and credits checks will be conducted).
• Submit an application fee to cover the cost of the background checks.
To learn more about leasing opportunities with Red Willow Estates, please contact Julius Aubid at jaubid@circlesage.com or 320-362-0973.
