On paper, Opportunity Crossing seems to be a standard redevelopment, converting a formerly vacant site into high-quality affordable housing. However, its deeper structure — both financially and programmatically — serve as a test of what it takes to deliver a complex four percent Low Income Housing Tax Credit (LIHTC) deal on a site that carries deep community trauma, and the operational and political baggage that comes with it. What is now a six-story, 110-unit affordable housing development has risen at 3030 Nicollet Ave. in South Minneapolis, on the same site where a Wells Fargo branch was gutted by fire on May 29, 2020, during unrest after the murder of George Floyd. The branch was later demolished in March 2021.
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