Schafer Richardson celebrated the ceremonial groundbreaking of The Rosalyn, a 128-unit affordable senior (55+) housing community at the intersection of Lyndale Ave S. and American Boulevard W. in Bloomington, Minnesota.
The Rosalyn will consist of four stories of housing with one level of underground parking, and will provide a mixture of one, two, and three-bedroom housing units to active seniors age 55+. Of the 128 units, 104 will be set aside for households at or below 50% of the Area Median Income (AMI), 8 will be set aside for households at or below 30% AMI, and the remaining 14 will be for households earning at or below 60% AMI. Amenities include a club room, arts and crafts room, fitness center, as well as convenient package delivery, and on-site management. In addition, there is 1,500-sf of ground floor commercial space for lease fronting on Lyndale Avenue.
The Rosalyn was designed by UrbanWorks Architecture and will be constructed by Eagle Building Company. Funding for the project is provided by Huntington Community Development Corporation, Colliers Securities, Bridgewater Bank, the City of Bloomington, and Hennepin County, with pre-development capital provided by Greater Minnesota Housing Fund. This represents the 8th affordable housing project undertaken by Schafer Richardson within the Twin Cities.
