New Affordable Housing Underway in Rosemount

Ground has officially been broken on Wexford Place Apartments, a 49-unit affordable housing development in Rosemount (on the corner of Chippendale Avenue and 160th Street).

Remarks at the groundbreaking event held on July 31, 2019 were provided by Mike Waldo, CEO of Ron Clark Construction (project developer), Rosemount Mayor Bill Droste, and Commissioner Chris Gerlach (Chair of the Dakota County CDA Board).

This three-story building will have a mix of one-, two- and three-bedroom units that will serve households with incomes less than 60% of area median income. Rents are restricted to 50% of area median income. Additionally, three of the units will be set-aside for households experiencing long-term homelessness.

The Dakota County CDA awarded over $700,000 in Low-Income Housing Tax Credits to the project which generates the majority of the equity needed to finance construction costs. The CDA also provided a $240,000 HOPE loan to assist with gap financing. Total project costs are approximately $12 million and the new apartments will welcome their first residents in 2020.

Ron Clark Construction also owns Lakeville Pointe Apartments in Dakota County which opened in 2017.

Group photo: Dakota County Commissioner & CDA Board Chair Chris Gerlach, Mike Waldo (President, Ron Clark Construction), Rosemount Councilmember Jeff Weisensel, Rosemount Mayor Bill Droste, Rosemount Councilmember Paul Essler and Rosemount Councilmember Heidi Freske.