Mille Lacs Band Building Affordable Housing for Workforce
ONAMIA -- Thirty new affordable housing units are going to be built near Grand Casino Mille Lacs.
Mille Lacs Corporate Ventures recently closed with equity investor RBC Community Investments to begin construction on its $14.5 million affordable housing development, Red Willow Estates.
The new homes will provide quality, affordable housing to the local workforce. It is anticipated that many residents will be employees of Grand Casino Mille Lacs.
Red Willow Estates received a 2021 Low Income Housing Tax Credit award from the Minnesota Housing Finance Agency that generated over $8.7 million in investor equity from RBC Community Investments for the development.
The new development is MLCV’s second HTC project and will build 15 duplex buildings to house 22 two-bedroom homes and 8 three-bedroom homes.
Development amenities include a community garden, a basketball court, a playground, and an outdoor gathering area with grills and a fire pit, picnic tables and a covered shelter.
Construction will begin in early 2022.
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