Enhanced Capital Director Ian McCulley was featured in a Commercial Observer article covering a mixed-use development known as the Rune in Alexandria, MN, that received equity and Commercial Property Assessed Clean Energy (C-PACE) financing from the firm.
“Our firm is proud to partner with such an excellent team to help provide environmentally friendly senior housing in an area that will greatly benefit from more supply.”
Developed by GoodNeighbor Properties, LLC, the project will create 72 luxury apartments for residents aged 55+, 27,700 square feet of retail space, and a 90-seat restaurant in a four-story structure. The project will benefit the local community by creating jobs and retail activity, creating new housing for senior citizens, remediating blight and addressing environmental issues, and using improved clean energy construction practices in an underserved rural area.
Visit the Commercial Observer to read the full “First Western Leads $33M Construction Deal for Minnesota Mixed-Use Project” article.