Boisclair advances $22 million rental rehab in Brooklyn Park.

 
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Byline: Brian Johnson

Four decades after constructing the original buildings, Minneapolis apartment developer Boisclair Corp. is moving forward on plans to rehab 170 affordable rental units within the Brooks Landing and Brook Garden complexes in Brooklyn Park.

The estimated $22 million project will update and refresh the 110-unit, seven-story Brooks Landing building at 5825 74th Ave. N. and the 60-unit Brook Gardens complex at 5550 69th Ave.

Tapping into federal, state and local funding sources, the project will most likely close with the U.S. Housing and Urban Development and Minnesota Housing Finance Agency in August or September, Boisclair President Lori Boisclair said.

"Construction will start immediately thereafter," Boisclair said.

Brooks Landing is a senior apartment building. Brook Gardens, which includes 26 two-bedroom apartments and 24 three-bedroom townhomes, serves families with children, including many immigrants, the city said.

No stranger to Brooklyn Park, Boisclair Corp. built the original Brooks Landing and Brook Garden properties in the late 1970s.

"We were in the neighborhood when it was just a field. It's a wonderful city to work with," Boisclair said Thursday.

Boisclair is seeking a re-syndication of low-income housing tax credits, which is a new allocation of credits to upgrade existing properties. Both Brooks Landing and Brook Gardens qualify as "federally assisted preservation" because of their condition, according to the city.

The project has been in the works for...

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