JO Cos. proposes affordable apartment complex on Penn Avenue in Richfield
[Originally published by Minneapolis / St. Paul Business Journal, written by Alyxandra Sego: View Source]
Twin Cities housing developer JO Cos. wants to build an affordable apartment complex on Penn Avenue in Richfield. The firm's proposal is for approximately 40 affordable units to be built at 6501 Penn Ave. S., currently a vacant lot that has been owned by the Richfield Housing and Redevelopment Authority (HRA) since 2018. JO Cos. CEO Johny Opara presented his preliminary plans to Richfield City Council, HRA and Planning Commission during Monday’s hearing...
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Low-cost housing pitched for key Richfield corridor
[Originally published by Finance & Commerce, written by Brian Johnson: View Source]
Like other metro-area cities, Richfield has identified a need for more affordable housing, larger rental units suitable for low-income families, and investments in key corridors. A local developer’s pitch for a city-owned site in the heart of town could check all three boxes...
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Impact Capital program provides funding to developers, fulfills promises
[Originally published by US Bank: View Source]
Program focused on helping first-time developers of color is gaining momentum in second year and expanding across the U.S...
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Q&A: Opara, Bernards work to advance affordable housing, equity
[Originally published by Finance & Commerce, written by Brian Johnson: View Source]
Emerging developer Johnny Opara of St. Paul-based JO Companies crossed the finish line on his first large-scale development — an $18.4 million, 62-unit workforce housing project called The Hollows – with help from financing partners that include Don Bernards, a partner in Baker Tilly’s real estate group...
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The Larkin Hoffman Real Estate Podcast: Building Affordable Housing – Interview with Johnny Opara, President and CEO of JO Cos
For this episode of The Larkin Hoffman Real Estate Podcast, Johnny and Megan talk about his decision to move from corporate America into the real estate development world; what he’s building now; and what he wants to build in the future.
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The Hollows: Website is Now Live
Minnesota Developer Gets Workforce Housing Project Across Finish Line with CDFI Financing
[Originally Published on Opportunity Finance Network: View Source]
Since 2018, JO Companies has worked collaboratively with the City of St. Paul to develop a high-quality, energy efficient and equitable development on the east side of the city. One of the company’s latest projects is The Hollows, a four story, 62 unit multifamily workforce housing development.
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First-time developer to build 62-unit apartment building in St. Paul
[Originally Published on Star Tribune, Written By Zoë Jackson: View Source]
A first-time developer is set to break ground on St. Paul's East Side on a 62-unit apartment building with units affordable to a range of low-income renters.
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After 4 years, first-time developer will launch 62-unit apartment building at Payne and East Seventh
[Originally Published On Twin Cities Pioneer Press, Written By Frederick Melo: View Source]
In a prior life, Johnny Opara spent 17 years in business-to-business sales with Medtronic, CenturyLink, Cox Automotive and International Paper. The first-time developer may have just cleared his biggest sale yet — convincing the city of St. Paul to back a 62-unit, $18.7 million affordable-housing development just east of downtown.
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Join The 520 Payne Ave Conversation
[Originally published on Payne Phalen: View Source]
Community Design Charette on Monday August 12, 2019 at Indigenous Roots, 788 East 7th Street, St. Paul, MN 55106.
Join the East Side neighbors to discuss development of the vacant lot at 520 Payne Ave into affordable apartments.
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520 Payne on Hoodstarter
[Originally published on Hoodstarter, written by Justin Ley: View Source]
A great redevelopment opportunity at the Gateway to Payne Avenue in close proximity to Swede Hollow Park and Bruce Vento Regional Trail.
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