Land Bank Twin Cities is proud to highlight our pivotal role in ensuring the Kyle Square Garden conversion project – an Alliance Housing development that might not have been possible without our timely intervention.
In July 2023, when the deal for this transformative project was on the edge of falling through, Land Bank Twin Cities swiftly stepped in. We acquired the property at 700 10th Ave. S. in downtown Minneapolis, holding it until September 2024 – a critical 14-month period that allowed Alliance Housing to secure necessary funding and partnerships.
Our ability to purchase and hold the building during this crucial time saved the project. This $25 million development, which broke ground on September 5, 2024, will renovate a 1941 building into 59 deeply affordable housing units – 28 one-bedroom apartments and 31 studios – designed to serve individuals who have experienced homelessness.
What sets this project apart is not just its provision of housing, but its comprehensive approach to supportive living. Through a partnership between Alliance Housing and Touchstone Mental Health, residents will have access to 24/7 on-site supportive services, ensuring they receive the care and assistance needed to thrive in their new homes.
Alliance Executive Director Jessie Hendel emphasizes the project’s strategic location, offering residents easy access to public transit and job opportunities – key factors in fostering long-term stability and independence.
At Land Bank Twin Cities, we’re proud of our unique ability to step in during critical moments, holding properties until the time is right for development and the necessary funding is secured and available. The Kyle Square Garden project is a prime example of how our work directly contributes to community-driven development and creates positive change in the neighborhoods we serve.
We look forward to seeing this project completed in winter 2025, knowing that our timely action in 2023 helped to make it possible. This is a testament to Land Bank Twin Cities’ commitment to fostering developments that make our communities stronger and more inclusive. Stay tuned for more updates as we continue to support and enable vital projects across the Twin Cities.
