Trellis to buy St. Louis Park affordable housing

Trellis, a nonprofit developer and operator of affordable housing in the Twin Cities metro, has agreed to purchase the apartment complex Perspectives in St. Louis Park, following the bankruptcy of the current owner, Perspectives Inc.

The St. Louis Park City Council approved of transferring a Community Development Block Grant to Trellis at its Monday night meeting.

Trellis Vice President for Housing Development Dan Walsh said along with maintaining the apartment’s affordability, Trellis would like to undertake a renovation on the property once it eventually acquires it, saying they would “comprehensively renovate and really reposition the property for decades to come.”

The apartment complex is 56 units of affordable housing spread through five buildings, public documents say. Trellis plans to close on the property next month, though the acquisition is contingent on “new financing from Greater Minnesota Housing Fund,” documents say.

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