Congratulations to Canvas Apartments and 825 Arts for being named two of Finance & Commerce’s Top Projects of 2024!
We’re proud to have played a foundational role in making both of these impactful developments possible – by purchasing and holding land, extending contracts, and quite literally clearing the way for community-rooted, affordable housing.
For Canvas Apartments in Northeast Minneapolis, now 95% leased and home to 160 affordable units and 23,000 square feet of production space, we stepped in as landowner after a previous deal fell through. Land Bank acquired and held the property, demolished the existing grain silos onsite, and provided the patient capital needed for Broadway Street Development to realize their vision for the Bottineau neighborhood.
In Saint Paul, we held the historic Victoria Theater property from 2014 to 2021, providing 825 Arts with early site control and the time needed to raise funds for a transformative renovation. With our assistance, 825 Arts was able to purchase the building and complete the $6.5 million renovation, restoring the space from disrepair into a dynamic arts hub for the Rondo and Frogtown communities.
These recognitions celebrate not just great design and construction, but deep collaboration, mission-driven development, and long-term affordability. At Land Bank, our patient capital approach – holding properties long-term while partners fundraise and plan – is a key part of what sets these projects up for success.
Congratulations to all the partners who brought these visions to life!
Land Bank Projects Honored as Finance & Commerce Top Projects of 2024
