Crest Limited Partnership
Project Type: Multifamily
Name of Developer: Aeon
Developer Point of Contact Name: Laura Russ
Point of Contact Email: email@example.com
Contact Phone: 612-465-0857
Project Address: 6221 Shingle Creek Parkway, Brooklyn Center, MN 55430
Number of Units: 171
Building Type: Apartment Building
Owner Type: Rental
Brief Description: Aeon is an affordable housing nonprofit that builds, acquires and manages affordable housing in the Twin Cities metropolitan region. As part of our effort to preserve affordable homes in the Twin Cities, Aeon purchased The Crest in 2012. Currently, The Crest has a total of 171 units; one studio, 81 one-bedroom, 73 two-bedroom, and 16 three-bedroom apartments. Additionally, 11 units are at 30% AMI; 101 units are 50% AMI; and 59 units are 60% AMI.
The original 123 apartments at the property are a mix of 1- and 2-bedrooms. Aeon made renovations to The Crest with a focus on systems upgrades in 2014-2015. In 2022, Aeon renovated each of the original apartments, upgrading flooring, paint, appliances, lighting, countertops, cabinets, plumbing fixtures and more, depending on the needs of each home.
In addition to renovating the original apartments, Aeon expanded The Crest through building a second tower on the property, adding 48 additional units – four 1-bedrooms, 28 2-bedrooms, and 16 3-bedrooms. The new homes feature dishwashers, spacious closets and unit-controlled heating and cooling. The property includes a community space with a kitchen, a fitness center and a computer room. The addition also includes a parking garage, a playground, an outdoor patio and an expanded community garden. The renovation was funded through the same financing process as the expansion.