Elite Cleaners Property

About the project

Redesign Inc. (formerly known as Seward Redesign Inc.) was founded in 1969 to protect affordable housing in Seward West. In 1985, the organization reorganized as a Community Development Corporation to address the broader economic development needs of the neighborhood. Today, the CDC serves the five neighborhoods of Greater Longfellow (Seward, Longfellow, Cooper, Howe, and Hiawatha) in South Minneapolis, providing comprehensive community development services.

Redesign Inc. is located in Minneapolis, MN.

LISC provided $550,000 in acquisition financing to Redesign Inc. to purchase the Elite Cleaners property in South Minneapolis. Redesign will subdivide the project into two parcels, selling the commercial parcel back to Elite Cleaners, an immigrant-owned certified green drycleaner, and developing the second parcel into a mid-sized apartment building within the next three to four years. This project was financed by the Community Asset Transition Fund, a flexible, affordable pool of capital to enable the acquisition of commercial and residential properties in or near the cultural districts that were impacted by the civil uprising folloding the murder of George Floyd and the economic fallout of the COVID-19 pandemic.