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Putting together a project like 66 West is complex. Beacon would first acquire the bank building, then go through the process of funding the project, Blons said. Sources could include money from the state and county, federal low-income housing tax credits and rental assistance from groups such as the Metropolitan Council.
It took three years to put together the deal for Nicollet Square, Beacon’s first residence for homeless youths.
“Three years is successful in this work,” Blons said. Beacon has a similar project, Prior Crossing, in the works in St. Paul.
The presentations in Edina have been informational so far, and 66 West would have many more steps to take through the city before becoming reality.
Mary Jane Smetanka • 612-673-7380
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