In April 2021, Related closed on the preservation of Loring Towers, a 230-unit affordable housing property in downtown Minneapolis. The development is located only steps away from shopping, dining and transportation, as well as nearby Loring Park. With significant renovations already underway, Loring Towers will offer residents a greatly improved living experience once they are completed. Each apartment will receive a new kitchen and bathroom fixtures, as well as new flooring and lighting, and 12 units will be renovated to become ADA-accessible. Common areas will also be improved, and residents will have access to a brand new fitness center and free WiFi throughout the building. Resident programming, such as cooking classes and visits from volunteers in the community, will offer enriching experiences and a regular schedule of activities. In addition to improving residents’ lives, the surrounding neighborhood and community have also experienced positive changes resulting from the renovations. Related team members worked with community members, such as local church members, neighborhood leaders and police, to enhance resident safety and support with services like in-building security. Today, the residents benefit from feeling more secure and having a safer home for years to come.
