The remaining tenants at the Park Laurel apartments, one of the last affordable spots for low-income renters in downtown Minneapolis, have been forced to leave after the city condemned the buildings late last month.
The four-building, 96-unit complex was largely vacant — most tenants moved out in the fall, after the buildings were sold to Maven Real Estate Partners, a new owner with plans for major renovations. But some, like Mike Sullivan, held on until the end.
"I knew this hammer was coming down," said Sullivan, who lived at Park Laurel for four years and now spends his nights at a homeless shelter downtown. "People who didn't have a place to go — we just stayed."
Unsubsidized apartments where poor people can afford to live are becoming a rarity in Minneapolis, as companies buy old buildings, renovate them and raise rents. Between 2010 and 2015, more than 10,000 rental-housing units in Minneapolis were sold, according to a 2016 report from the Minnesota Housing Partnership.
Justin Greer, director of operations at Chicago-based Maven Real Estate, said the company is pursuing historic tax credits to help finance renovations. Construction could start in late summer or early fall, he said, and in the meantime, the property has been secured.
"Our plan has always been to do renovation of the property, and we are continuing to pursue that plan," Greer said.
The Park Laurel buildings were condemned March 20 for outstanding code violations, and have been entered into the city's vacant building registration, according to Minneapolis spokesman Casper Hill. A condemnation notice posted on one of the boarded-up doorways cited unsanitary conditions, health and safety violations and lack of maintenance.
Council Member Lisa Goodman, whose ward includes Park Laurel, said the city did what it could to ease the transition for tenants.