As two new apartment projects gain steam, the Windom City Council has approved an application for a $490,000 forgivable loan which could assist the project.
At a recent meeting, Economic Development Director Drew Hage said the grant is issued by Minnesota Housing, specifically for market rate apartments in Greater Minnesota. The city has an option agreement with HyLife for six eight-bedroom apartment buildings (a total of 48 units).
In addition to that project, Hage and the EDA board are working on another apartment complex which he describes as “senior/executive apartments” along Lakeview Avenue, across from the city’s east water tower.
Both of these projects are considered market rate apartments and both could see a closing sometime in January or February with construction occurring during the summer of 2022.
For more on this story, check the Dec. 29 edition of the Cottonwood County Citizen and Citizen eEdition.
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