a foot in the door for affordable housing

a foot in the door for affordable housing,[link widoczny dla zalogowanych]
What was once one of the biggest footwear factories in Minnesota will be turned into a place for people to kick off their shoes and lay their heads after work.
The money is in place and now a developer of affordable housing is waiting for the federal government to grant St,[link widoczny dla zalogowanych]. Paul's Renaissance Box a historic certification before gutting it and transforming it into 70 affordable housing units.
"It's important to save these buildings," said Gina Ciganik,[link widoczny dla zalogowanych], vice president of housing development for Aeon. An affordable housing developer based in Minneapolis,[link widoczny dla zalogowanych], Aeon bought the building out of a foreclosure situation in 2006.
The goal is for the Renaissance Box to house workers who have jobs at downtown restaurants,[link widoczny dla zalogowanych], hospitals or other service-industry companies,[link widoczny dla zalogowanych], Ciganik said.
Fifty-six units -- a mix of efficiency and one- and two-bedroom apartments -- will be targeted at people who make between $21,[link widoczny dla zalogowanych],000 and $42,[link widoczny dla zalogowanych],000. The remaining 14 units will be for people who earn between $10,[link widoczny dla zalogowanych],000 and $17,[link widoczny dla zalogowanych],000 and have been homeless.
Financing for the $16 million project is coming from a combination of state and city funds,[link widoczny dla zalogowanych], foundation grants and private investors using federal tax credits. An additional allotment of tax credits through the federal stimulus program helped the project fill in gaps.
The building,[link widoczny dla zalogowanych], valued by Ramsey County at about $1.75 million,[link widoczny dla zalogowanych], will contribute about $56,[link widoczny dla zalogowanych],000 to county tax rolls. Construction is expected to begin early next year and wrap up in early 2011. Frerichs Construction will be the contractor.
When done, the seven-story building will still have an industrial feel. The ceilings are made of corrugated concrete. The floors are concrete. Thick concrete columns connect them.
An addition that was put on the building will be removed and turned into green space.
"It's really encouraging to be able to move these projects forward in a bad economy," said Natalie Fedie,[link widoczny dla zalogowanych], spokeswoman for the St. Paul Planning and Economic Development department. She said the project will add to the momentum of residential development in the Wacouta Commons neighborhood.
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