aSalle
Development Consulting and Owner Representation Group acted as project
coordinator in the development of Edinborough, a 26-acre award-winning
mixed-use community located in Edina, Minnesota. Over the eight-year development
and construction period, LaSalle contributed to the overall financing design
that included tax increment financing, tax-exempt revenue bonds, and interest-rate
reduction. The total financial package covered residential construction
totaling $48 million and commercial construction totaling $10 million.
To meet the City of Edina’s goal to provide affordable housing for first-time
buyers, LaSalle devised a slow-second mortgage program to subsidize housing
development costs. Our excellent history working with city developers and
rapport with private developers resulted in a well-orchestrated and successful
project.
aSalle
Development Consulting and Owner Representation Group acted as project
coordinator in the development of Edinborough, a 26-acre award-winning
mixed-use community located in Edina, Minnesota. Over the eight-year development
and construction period, LaSalle contributed to the overall financing design
that included tax increment financing, tax-exempt revenue bonds, and interest-rate
reduction. The total financial package covered residential construction
totaling $48 million and commercial construction totaling $10 million.
To meet the City of Edina’s goal to provide affordable housing for first-time
buyers, LaSalle devised a slow-second mortgage program to subsidize housing
development costs. Our excellent history working with city developers and
rapport with private developers resulted in a well-orchestrated and successful
project.