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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Opara set to build affordable housing in Brooklyn Center
[Originally published by Finance & Commerce, written by J.D. Duggan: View Source]
Local developer Johnny Opara is nearing construction on what he calls a “luxury affordable” apartment building that’s been long anticipated in Brooklyn Center...
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With Council Approval, Developer Plans Another Shot at Funding for Brooklyn Center’s Wangstad Commons
[Originally Published on Hometown Source, Written By Kevin Miller: View Source]
The Brooklyn Center City Council extended the preliminary development agreement with the developer proposing to construct the Wangstad Commons housing development on March 28.
The four-story, 54 unit, $22.5 million development is proposed for city-owned land at Brooklyn Boulevard and 61st Avenue, adjacent to The Sanctuary assisted living center.
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Brooklyn Center Plans Affordable Housing Complex Called Wangstad Commons
[Originally Published on YouTube by CCX Media Community News: View Source]
A developer wants to build an affordable housing complex called Wangstad Commons on a four-acre site at 61st Avenue and Brooklyn Boulevard. The project calls for a four-story, 54-unit building. The developer hopes to receive tax credits for the project.
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Brooklyn Center Officials Updated on Plans for Wangstad Commons
[Originally Published on 6Park News: View Source]
City officials in Brooklyn Center received an update this week on the status of a proposed affordable apartment complex.
JO Companies wants to build a complex called Wangstad Commons on a vacant 1.79-acre site at 61st Avenue and Brooklyn Boulevard.
The project calls for a 54-unit, four-story building, with each apartment having one to four bedrooms. About a dozen of the units would even be made especially for people with disabilities.
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Developer scales back plans for affordable housing at 61st Avenue, Brooklyn Boulevard
[Originally Published On Brooklyn Park Sun Post, Written By Kevin Miller: View Source]
A developer interested in constructing an affordable housing complex at 61st Avenue and Brooklyn Boulevard is scaling back the overall size of the development in an effort to leverage public funding and state tax credits.
Brooklyn Center has a preliminary development agreement with JO Companies for the project, which is set to expire Feb. 28, 2022.
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BC council interested in apartments at 61st, Brooklyn Boulevard
[Originally published on Brooklyn Park Sun Post, written by Kevin Miller: View Source]
A developer is proposing a new, affordable apartment development on city-owned parcels at 61st and Brooklyn Boulevard, with public funding proposed as a necessary component of the funding equation and an emphasis on three-bedroom units.
The developer, JO Companies, brought the concept forward for a non-binding review at the Brooklyn Center City Council’s Jan. 27 work session.
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Update on Opportunity Zone Projects in Brooklyn Park
[Excerpt from City of Brooklyn Park, EDA Work Session, originally published here]
Johnny Opara, a local developer and resident of Brooklyn Park, has expressed interest in completing a horizontally mixed-use retail (possibly grocery) and senior housing development on a portion of the Regent Site.
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