February 2, 2010
Baxter, MN – In August, NDC’s Corporate Equity Fund (CEF) approved the construction of Grand Oaks Townhomes II, a 24-townhome development in Baxter, Minnesota. This is NDC-CEF’s ninth project with the developer, Central Minnesota Housing Partnership (CMHP), In 2005, CEF and CMHP completed the adjacent Grand Oaks Townhomes I, a nearly identical development.
The two and three bedroom townhomes each have an attached, single car garage. The development is arranged in four, two-story buildings. The air-conditioned townhomes are generously sized: 996 to 1,145 sq. ft. for the 18 two-bedroom units and 1,231 sq. ft. for the six three-bedroom units.
Rents are at 50% of the median. CMHP has designated four units to serve homeless households.
The development is slated to open in July 2010.