Tareen Development Partners closes financing for Silver Lake Pointe rehabilitation in Mounds View
Tareen Development Partners is proud to announce the successful closing of Silver Lake Pointe, an 83-unit affordable senior housing community located at 2701 County Road I in Mounds View, Minnesota. This marks the first low-income housing tax credit resyndication for TDP, providing substantial rehabilitation for the housing community.
Following the closing, Silver Lake Pointe will undergo a comprehensive renovation designed to improve apartment homes, common spaces, building systems, and site amenities. Construction is expected to take approximately eight months.
Tareen Development Partners extends its sincere appreciation to the City of Mounds View for the opportunity to advance this important project.
“This closing represents an important investment in the long-term quality and sustainability of affordable senior housing in Mounds View,” said Basir Tareen, founder and CEO of Tareen Development Partners. “We are grateful to everyone involved for helping make this a successful milestone.”
Key project partners include Frerichs Construction Company as general contractor and Boarman Kroos Vogel Group as architect. Bridgewater Bank provided an investment in the low-income housing tax credits. Colliers Mortgage led the financing of the 223(f) HUD 1st mortgage, with a full team of professionals supporting the transaction through closing.
About Tareen Development Partners
Tareen Development Partners, founded in 2021, is a mission-driven real estate development firm based in the Twin Cities. The company has built a reputation as a trusted partner known for delivering high-quality, award-winning projects across various asset classes. Specializing in complex, community-centered initiatives, it focuses on market-rate and affordable housing, healthcare facilities, and mixed-use developments. With an experienced team, the firm manages all stages of development, from land acquisition to asset management.
Media Contact
Yen Fostervold
Tareen Development Partners
yen@tdpmn.com
612-504-0566
Media Coverage
Just Sold: TDP plans to renovate Mounds View rentals
Finance & Commerce
