FRIDLEY, Minn. — Axial Real Estate Advisors, in partnership with United Properties and Ivy Properties, has received acquisition and development financing for Willows Bend Senior Living, a seniors housing project in Fridley, a northern suburb of Minneapolis.
Willows Bend will be a 136-unit, four-story building with underground parking. Ebenezer Management Services, a division of Fairview Health System, will operate the community upon completion. Groundbreaking is scheduled for later this month, with an anticipated opening in summer 2022.
The site, measuring 2.67 acres, is the former home of Fridley City Hall, as well as the fire and police headquarters, all of which relocated in 2018 after more than 60 years at the former site. Following the decision to relocate, the city and the Housing and Redevelopment Authority of Fridley selected Ivy Properties’ development concept, which team members spent two years refining.
“[Willows Bend] will integrate well within the community, specifically with the adjacent full-service M Health Fairview Clinic and Pharmacy and the local Anoka County Library along Mississippi Street,” says Scott Larson, senior vice president of acquisitions at Axial.
The post Axial Receives Financing for Willows Bend Redevelopment Project in Fridley, Minnesota appeared first on Seniors Housing Business.