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Featured Investment

Seasons Park

Richfield, MN

Investment introduction paragraphs

422 units spread across 20 three-story, garden-style buildings. CDT partnered with AEON, a top-tier non-profit housing developer in the Twin Cities region with an excellent understanding of the local market.

Partners

AEON Housing, Inc.

Highlights

Seasons park was originally completed in 1966 and consists of 422 units across 20 three-story, garden-style buildings. In 2017, the property was in need of a capital infusion and stronger long-term ownership and management

CDT has a strong, capable and well-aligned partner in AEON. Formed in 1986, AEON is a top-tier non-profit housing developer in the Twin Cities region and they have an excellent understanding of the local market

AEON is also a member of the Housing Partnership Network Equity Trust, among many other national industry groups. It owns over 2,600 units in 43 properties throughout the region and has a long history of working with state and local subsidy providers.

CDT’s investment in the property was $13,900,000.

Impact

CDT’s investment facilitated the conversion of a currently unrestricted property to a 100% long-term affordable community serving families earning less than 60% of the AMI.

AEON not only owns and manages its properties but also provides social services through its “Resident Connections” program.