Bessemer at Seward - Minneapolis, MN

Bessemer is a transit-oriented, 128-unit workforce attainable multifamily development in Minneapolis, MN. The project is located in a Somali immigrant neighborhood, called Seward, and is part of a larger, masterplanned community that includes senior housing, deeply affordable housing and mental health supportive housing and services. Bessemer was developed in partnership with an East African co-developer and women-led development team.

  • Total Project Cost: $28.6mm

  • Catalyst Equity Investment: $4.0mm

  • Impact Thesis:

    • Provide workforce affordable housing at a price point that is below 80% of AMI for the majority of units

    • Contribute to a comprehensive mixed-income master planned development that includes 40 units of mental health supportive housing and services, units for very low-income seniors and units for 30%-60% AMI residents

    • Partner with an East African co-developer and women led development team

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