Maggie Manor Too Apartment Homes To Remain Affordable
The MAGGIE Foundation and Outreach Development Corporation (ODC) have recently partnered to purchase the side-by-side apartment buildings located at 426 and 434 Rice Street in Wayzata along with the adjacent commercial office building located at 217 Minnetonka Avenue just north of the Post Office. The 10-unit housing complex will be called Maggie Manor Too. The residential properties will undergo some basic cosmetic renovating, with new paint, windows, doors, landscaping and a few other upgrades in the common areas. The office building houses three small businesses well known in the community – Aux Ciseaux Tailor, Luger Studios, and Geyen Group – all of which are anticipated to remain in the building.
The MAGGIE Foundation strives to support its community members with essential services, with a focus on education and affordable housing. It, Maggie Manor Too and nearby Maggie Manor, a 6-unit affordable townhome complex developed by ODC in 2012 at the corner of Rice Street and Grand Avenue in Wayzata, are all named in memory of Maggie Mithun. “Our goal is to preserve the residential properties as affordable workforce housing in Wayzata,” said Matt Mithun, owner of Mithun Enterprises and board member of the MAGGIE Foundation. “This collaborative partnership provides present and future tenants an affordable place to live in a prime location in a great community.”
As vacancies occur in Maggie Manor Too, the property manager will notify the community, including Interfaith Outreach. ODC and Interfaith Outreach have a successful history of mobilizing local and regional housing partnerships to preserve and develop unique housing with services models that help residents build strong futures.
“This collaborative investment of time, energy and resources shows what a community can do when it works together to address a key community issue,” said Ken Dayton, ODC Board Chair and Senior Managing Director of JLL Real Estate, LLC. “Housing affordable to people of all incomes is a win for all of us, enabling food service, health care, retail, and hospitality workers to live near their places of employment, which helps them and the whole community prosper.”
“One of the easiest ways to ensure that affordable housing continues to exist is by preserving what we already have,” said Wayzata City Manager Jeff Dahl. “We were happy to be a part of working with these institutions to employ our collective passions and resources to help solve an issue in the community.”
For more information about ODC, please visit https://www.odchousing.org.