Property Description
|
|
In response to a growing need for affordable housing, Alliant Energy, Newbury Development Co., and the City of Albert Lea broke ground on October 20, 1999 for Pickerel Park Townhomes. The 24 unit development provides family housing in Freeborn County. The complex opened in April 2001 and has 12 two-bedroom and 12 three-bedroom units. Garages, surface parking and a playground are also included on the site.
|
|
|
Albert Lea is the county seat of Freeborn County in South Central Minnesota. The community has a growing population of 18,000 people and is located on Interstates I-35 & I-90.
|
|
|
Alliant Energy Resources, through its Heartland Properties, Inc. subsidiary, purchased the federal housing tax credits and will provide over $1.2 million in equity. Strong community support was demonstrated by the City's efforts to secure a state grant for the development. The Greater Minnesota Housing Fund is providing a low interest loan to keep rents affordable.
|
