Satori Apartments - Minneapolis, MN

Satori Apartments is a 112-unit workforce attainable housing development in Minneapolis, MN, with ~3,300 SF of ground floor commercial space. Satori is located in a low-income, African American neighborhood, which saw significant civil unrest following the murder of George Floyd. The developer, a black owned and led firm, has planned the Apartments as Phase I of a larger, community-led redevelopment plan to revitalize the neighborhood through inclusion, affordability and economic development.

• Total Project Cost: $35.6mm

• Catalyst Equity Investment: $8.6mm

• Impact Thesis:

  • Provide workforce affordable housing with 20% of units deed restricted below 50% of AMI with an additional 80% of units priced at or below 80% AMI

  • Partner with a local developer to support a community that has suffered from lack of investment in recent decades and facilitate investment into the neighborhood by the City, State and County through their financial contributions to the project

  • Created a vibrant, mixed-income neighborhood with future development phases that include age-restricted housing and loft units