Land Bank Twin Cities, Inc. (Land Bank) is proud to announce a historic milestone in tenant empowerment. In May 2025, Sky Without Limits Cooperative successfully purchased four of five Corcoran neighborhood apartment buildings. This achievement reflects a multi-year journey from tenant organizing to community ownership. It also demonstrates a replicable model for preserving affordable housing and preventing displacement.
Project Overview
The Corcoran Five project began in 2017 when 49 families living across five apartment buildings in Minneapolis’s Corcoran neighborhood faced eviction and unsafe conditions under landlord Stephen Frenz, whose rental license had been revoked. In 2018, residents partnered with tenant organizing group Inquilinxs Unidxs por Justicia (IX) and approached Land Bank for help creating a pathway to community ownership.
Land Bank’s Role
Recognizing the buildings as naturally occurring affordable housing (NOAH), Land Bank purchased all five properties in 2020 for $4.85 million. Instead of maintaining them as traditional rentals, Land Bank worked with tenants to create a path to community ownership. Over the past several years, Land Bank provided:
- Property stewardship during cooperative formation
- Building improvements/remodels
- Stabilization and management of the buildings
- Technical assistance for cooperative development
- A vital bridge from slumlord ownership to tenant control
The Journey to Ownership
The road to ownership was not easy. Tenants secured an $18.5 million class-action settlement against their former landlord, one of the largest tenant victories in Minneapolis history. They then formed Sky Without Limits Cooperative, based on values of autonomy, justice, and dignity. The cooperative operates through committees to ensure financial development and community control. Sky Without Limits Cooperative now owns four of the five buildings. The group plans to purchase the final property in 2026, completing their vision of full community ownership.
Innovation and Impact
This project marks Minneapolis’s first major tenant-to-owner conversion and serves as a model for other communities facing gentrification and displacement. Located just blocks from the former MPD Third Precinct, the cooperative remains a key player in anti-displacement efforts in South Minneapolis.
The Corcoran Five gained national attention through a 2020 feature in The New York Times titled “The Tenants Who Evicted Their Landlord.” The article highlighted the project as a creative solution to the housing crisis.
Looking Ahead
The Corcoran Five shows what is possible when tenants have access to the right support and financial tools. Land Bank continues its commitment to creating lasting positive change in our communities through innovative real estate solutions and strong community partnerships. The Corcoran Five demonstrates that with the right support and financing structures, tenants can move from vulnerability to ownership, creating permanently affordable housing controlled by the community itself.
