Affordable Housing Finance (AHF) has announced thirty-eight inspiring developments have been named finalists in the 2024 Readers’ Choice Awards. The awards recognize the best affordable housing developments nationally in 10 categories. Each project is unique and highlights the diverse range of affordable housing for families, seniors, formerly homeless individuals and those with special needs.
We are excited to announce four of Cinnaire’s investments have been selected as finalists for the 2024 AHF Readers’ Choice Awards! We hope you will join us in voting for Restoring Waters, Imani Village, Brooke Street Lofts and Rise on 7. AHF magazine and newsletter subscribers can vote on the finalists until August 19th.
Permanent Supportive Housing Finalist: Restoring Waters – St. Paul, MN
Developer: Project for Pride in Living
Restoring Waters offers homes to more than 60 formerly homeless individuals and small families in a supportive housing residence, and provides the foundation for every person to heal, recover, and build a more stable and harmonious future. 
The state-of-the-art development incorporates the key features of a trauma-informed dignity and respect for residents, safety and privacy, inviting spaces, and a sense of stability and security. Emma North provides wrap-around supportive services to each resident, including case management, peer support, mental health support, and other enrichment programming. Case managers work directly with residents to develop individualized plans for their goals and what services they want to utilize. The goal is for each resident to achieve healing and wholeness through stability, self-acceptance, and empowerment. Cinnaire provided a $6.5 million LIHTC investment to support the project.
Public Housing Redevelopment Finalist: Imani Village Phase II – Wilmington, DE
Developer: Pennrose
Imani Village is designed on the principles of Purpose Built Communities, a national organization dedicated to supporting holistic community development and uplifting concentrated areas of urban poverty. This development marks the second phase of housing for the broader Riverside Redevelopment, a community-led, master-planned redevelopment of Northeast Wilmington’s Riverside neighborhood. Imani Village Phase II brings 67 new townhomes in 5 buildings. 
The project is part of an eight-phase redevelopment plan to replace aging public housing with an anticipated 713 high-quality, mixed-income rental and for=sale homes, which are being developed alongside complimentary projects including a new state-of-the-art Kingswood Community Center, expansion of a neighborhood Charter School with a STEM center and the already delivered Teen Warehouse, the first community center revolutionizing teen engagement designed by teens, for teens. Cinnaire provided a $9.3 million LIHTC investment to support the project.
Historic Rehab Finalist: Brooke Street Lofts – Fond du Lac, WI
Developer: Commonwealth Development Corp. and Wisconsin Partnership for Housing Development
Brooke Street Lofts, the historic renovation of the former Northern Casket Co. and Winnebago Cheese Factory, offers 62-units of affordable homes near downtown Fond du Lac. The one-, two-, and three-bedroom apartments maintain a unique historic character mixed with new, contemporary finishes and conveniences. 
The spacious homes include extra storage, energy-efficient appliances, in-home washer and dryer and more. Residents enjoy access to a community room with kitchenette, business and fitness centers, large green spaces, and a playground. Originally built in 1919, the $20 million adaptive reuse was supported with a $10.6 million LIHTC investment from Cinnaire.
Mixed-Use Finalist: Rise on 7 – St. Louis Park, MN
Developer: CommonBond Communities
Rise on 7 includes the new construction of 120 units of affordable housing in in a mixed-use building with space reserved for an early childhood center and outdoor play area. The vision of the project was to serve as a source of support for low-income families, offering high-quality homes paired with onsite childcare services to support the needs of families with young children. The Rise Early Learning Center is committed to providing high-quality early childhood education to under-resourced families, ensuring every child has the opportunity to thrive, and prepares children and families for school readiness in a safe environment that encourages exploration, active learning and affirmation. 
Cinnaire, in partnership with the Greater Minnesota Housing Fund, provided a $14.8 million LIHTC investment to support the project.
