November 1, 2018

Celebrating the Grand Opening of Dublin Crossing in Mankato, Minnesota

Dublin Crossing in Mankato, Minnesota

Congratulations go out to CommonBond Communities on the grand opening of Dublin Crossing in Mankato, Minnesota! This community creates 50 affordable homes for families, including 10 of which that are set aside for the homeless. CommonBond Advantage Services will provide mental health services, substance abuse counseling, health care and economic assistance to all residents. Dublin Crossing is located in eastern Mankato and has great access to employment opportunities, amenities, education, and recreation areas.

Financing

Construction Financing includes a $5.75 million Low and Moderate Income Rental (LMIR) bridge loan and $5.64 million from the Minnesota Housing Finance Agency. Permanent Financing includes an additional $2.24 million from the Minnesota Housing Finance Agency, $5.64 million from the Minnesota Housing Finance Agency’s Economic Development and Housing Challenge, $168,000 from the Minnesota Housing Finance Agency’s Flexible Financing for Capital Costs, $300,000 from the Greater Minnesota Housing Fund, and $50,000 from Blue Earth County. Enterprise provided $11.7 million of equity toward this project.

Posted in: