Jan 10Southwest Minnesota Housing Partnership (SWMHP) is pleased to announce the successful completion of renovations at Royal Manor II Apartments in Alexandria, Minnesota. This project preserves 24 affordable rental units for households earning at or below 60% of the area median income (AMI), ensuring that these units remain available to low-income residents in Alexandria for years to come.
Project Overview
The Royal Manor II was acquired on October 31, 2023, with renovation beginning April 2024. The project’s full scope includes significant interior and exterior improvements to the 24-unit, two-story apartment building originally constructed in 1987.
The $4.1 million renovation project included comprehensive upgrades to both the interior and exterior of the building. Interior improvements encompassed the replacement of flooring, cabinets, appliances, lighting, and mechanical systems, along with reconfiguring accessible units to meet current standards, including the addition of two Type A units and one Universal Design unit. Exterior work involved replacing siding, windows, and doors, repairing brick, renovating entry stoops, and addressing water intrusion issues at the south entry. Additional site improvements included parking lot repairs, regrading for better accessibility, and the installation of a new playground for residents.
Funding Partners and Financials
The project was made possible through several key partnership including the Greater Minnesota Housing Fund (GMHF), Minnesota Housing, USDA Rural Development, and Llyod Management. The financial commitment from these partners ensures the long-term affordability of the property, allowing it to remain a crucial resource for Alexandria’s low-income families and individuals.
Addressing Community Need
The preservation of Royal Manor II is a critical step in addressing Alexandria’s growing housing needs. According to recent market studies, the vacancy rate in Alexandria has dropped significantly, leading to an increasingly tight rental market. With rising demand and limited affordable housing options, this renovation ensures that 24 rental units will remain available to households earning at or below 60% of the area median income, which in Alexandria equates to approximately $58,000 for a family of four.
The preservation of Royal Manor II helps prevent the loss of affordable rental units in the area, which is particularly important given that the property was at risk of converting to market-rate housing. With the renovation, the property will remain a key affordable housing option for vulnerable populations, including seniors, people with disabilities, and low-income families. The addition of a new playground further enhances the community’s living environment, offering a safe and welcoming space for children and families.