Nellie Francis Court at Highland Bridge
Project Type: Multifamily
Name of Developer: Project for Pride in Living, Inc.
Developer Point of Contact Name: Chris Dettling
Point of Contact Email: firstname.lastname@example.org
Contact Phone: 612-455-5216
Project Address: 2285 Hillcrest Ave, St. Paul, MN 55116
Number of Units: 75
Building Type: Apartment Building
Owner Type: Rental
Brief Description: Ryan Companies selected Project for Pride in Living as one of three nonprofits to develop 20% of the residential units at Highland Bridge and ensure they are affordable to individuals and families with lower incomes. As a BIPOC-led nonprofit developer, equitable development is a core value of PPL. Nellie Francis Court, currently under construction, will be available to households earning 50% to 60% of the area median income. The community’s vision is to create a new, inclusive neighborhood where residents of all incomes and backgrounds can live in an amenity-rich, walkable, and sustainable area.
Nellie Francis Court will include 26 studio units, 30 one-bedroom units and 19 two-bedroom units. Nearby amenities include 7 newly designed St. Paul city parks at the heart of the 122-acre development, including one adjacent to the site. Target, Lunds & Byerlys, M Health Urgent Care, and many resources are just blocks away. Local bus service is very close, and the LRT Station is about a ten-minute walk.
To close the deal and begin construction earlier this year before interest rates and construction pricing increased any further, PPL contributed over $1.6MM in capital. PPL is seeking $2MM in deferred financing in order to repay these resources and right-size the amortizing first mortgage prior to perm loan conversion after opening in April 2024.