Schafer Richardson’s East St. Paul Project Featured in Minneapolis-St. Paul Business Journal
Posted Under: News
Schafer Richardson, in partnership with Peter Brodd, is pleased to announce its successful acquisition of the site located at 848 Payne Avenue in St. Paul on June 19, 2020. The Payne-Phalen neighborhood development, Nova SP, will feature 99 studio, one, and two-bedroom apartment units for households earning at or below 60% of the Area Median Income (AMI).
Nova SP is Schafer Richardson’s first Opportunity Zone project and is also the first low-income housing tax credit and opportunity zone project to close in Minnesota.