Mille Lacs Corporate Ventures (MLCV) is proud to announce that the Minnesota Housing Finance Agency (MHFA) has awarded Housing Tax Credits to finance Red Willow Estates in Onamia, Minnesota. Red Willow Estates is a 30-unit townhome community offering 22 two-bedroom, one-bath units and eight three-bedroom, two-bath units. All homes will have a one or two car attached garage along with energy efficient features and appliances.
As a tribally owned organization, MLCV has continuously fought for investment in the communities it serves. Affordable housing has been a key priority in the area as over 60% of the workforce commutes up to 50 miles daily, resulting in approximately 72% of the jobs in the area filled by outside residents. MLCV believes in the power of shared well-being and is proud to contribute to the generational sustainability of rural Minnesota.
“The combined effort between Mille Lacs Corporate Ventures and the leadership in Onamia, especially Mayor Marge Agnew, allowed us to pull off a big win for the community!” says Dustin Goslin, Vice President of Business and Economic Development for Mille Lacs Corporate Ventures. “It is because of our combined energy that 30 deserving families will soon have a beautiful, safe and affordable home in the heart of the Mille Lacs Tribal Economy.”
With the commitment in place from the Housing Tax Credits, MLCV, and its partners, are ready to charge full steam ahead. Their goal is to finalize investor commitments along with design plans by this summer, then begin sitework and construction later this year. Units should be tenant-ready by Winter 2022.
Red Willow Estates is the second affordable housing project developed by MLCV. In 2018, the company completed a 28-unit townhome community called Lady Luck Estates in Hinckley. Like Lady Luck Estates, Red Willow Estates will be managed by Circle Sage Property Management. All units at both properties are open to anyone who meets income eligibility on a first-come-first-serve basis. For more information, please visit www.mlcv.com or circlesage.com.