MSP Real Estate of Mendota Heights, Minnesota is proposing a mixed-income housing project, according to the Wisconsin State Journal. The proposal advocates for the demolition of an existing two-story building on the site at 426 S. Yellowstone Drive, currently occupied by Evident Change, a nonprofit that no longer has need of the space. The plans for a new five-story building on the site include mixed-income housing, a commercial space, and structured parking.
The residential section of the building would be comprised of 147 total apartments, including 10 efficiencies, 65 one-bedrooms, 62 two-bedrooms, and 10 three-bedrooms. Eighty-seven of these would carry market rate prices, while the remaining 60 would be priced for low-income residents. The plan’s commercial space would be occupied by Anesis Therapy, a Black-owned, state-certified clinic that provides mental health, substance abuse, and case management services.
The proposal falls under Madison’s Odana Area Plan, which seeks to establish increased mixed-use and residential development, including affordable and/or rental housing, in a 1,044-acre area bordered by the Beltline, Mineral Point Road, and University Research Park.
MSP Real Estate will bring its proposal before the Plan Commission on May 8 and, if approvals are secured, plans to begin construction by the summer of 2024. The project would open in the spring of 2025.
