$23 Million Downtown Mankato Redevelopment Project in Doubt
A project to redevelop part of downtown Mankato is now in question. A critical piece of funding for this $23 million project fell through in the fall because the "project failed to earn federal tax credits aimed at promoting construction of affordable housing."
This redevelopment project was chosen above two other proposals that were presented to the City Council. The project was proposed by the Southern Minnesota Housing Partnership. The plan is to redevelop 5 acres of city-owned land near downtown Mankato into affordable housing apartments, a daycare/preschool, supportive housing, and a park area.
The City Council liked this proposal the most because it addressed the issue of not enough affordable housing, the need for more child care facilities, and the need for supportive housing to help those close to homelessness.
There will be a meeting this week between city officials and the project developer.
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