(February 27, 2007 — Minneapolis, MN) Dominium Development and Volunteers of America of Minnesota announce completion of a $6.4 million project to renovate an aging inner-city apartment building to better serve people with disabilities and individuals and families at risk for homelessness.
The Village at Franklin Station, formerly Bloomington Court Apartments, was built in 1975 as Section 8 housing for seniors and people with disabilities. This federal housing program subsidizes rent for low-income residents so it does not exceed 30 percent of their income. Because Section 8 housing is no longer being built, it is in high demand with many of the original buildings in aging condition.
The project is one example of how the private sector is responding to goals and funding strategies put in place by the state of Minnesota, Hennepin County and the city of Minneapolis to address long-term homelessness. Its operating budget was designed to include an on-site service coordinator to assist residents with mental and physical disabilities.
“We are proud to celebrate a high-quality restoration of this important housing for seniors and disabled adults and families,” said Jeff Huggett, Project Partner for Dominium Development and Acquisition, LLC. “Our partner, Volunteers of America of Minnesota, brought the supportive housing component that is so important in keeping vulnerable adults and families in a stable housing situation.”
"For Volunteers of America and the people we assist, a home is far more than shelter. It's the foundation of life,” said Mike Weber, CEO, Volunteers of America of Minnesota. “Through a unique combination of housing and services, Volunteers of America has become one of the largest nonprofit providers of quality affordable housing for individuals and families in need, the elderly and people with disabilities. “
Dominium crafted a rehabilitation plan focusing on energy efficiency, high-quality materials and an interior design with a warmer, residential feel. Together the partners structured a financial package that would support a substantial renovation and provide an increased level of social services to residents. They retained one of the unique features of the building that remains rare to this day: a wheelchair ramp running the full length of one wing of the building.
Dominium Development and Acquisition has been developing, acquiring and managing apartment housing since 1972, beginning with Section 8 housing in the 1970s, moving into market rate and luxury apartments in the 1980s. Dominium began focusing on developing or acquiring and rehabilitating properties using tax credits in the 1990s while continuing to acquire and develop market rate housing. Today the Dominium companies are the largest multi-family owner and operator based in Minnesota.
Volunteers of America of Minnesota is a non-profit organization that provides a wide variety of services to more than 35,000 children and their families, school students, adults with special needs, youth and adult ex-offenders and senior citizens each year. One of the oldest, largest and most comprehensive social service organizations in the state, Volunteers of America of Minnesota seeks to empower program participants for age-appropriate and disability-appropriate independence and self-reliance.