A Roseville Grand Opening Ceremony

Twin Cities-based housing developer Aeon this week celebrated the debut of its newly-completed Sienna Green Phase II housing project in Roseville. 

The new four-story development has turned a vacant lot into a sustainable housing community, adding 50 new apartments to the existing 120 one-bedroom apartment homes provided by five buildings Aeon renovated just years prior, according to officials for the non-profit. That includes 30 two-bedroom, 16 three-bedroom and four one-bedroom units.

Residents began moving into the new complex on Wednesday after Tuesday's grand opening ceremony. Aeon said it expects the 50 units will be nearly 100 percent rented by Aug. 1.

"For more than 25 years, we have partnered with communities throughout the greater Twin Cities to provide high-quality, affordable apartment homes,” Aeon CEO Alan Arthur said in a statement. “Together with the city of Roseville, MHFA (Minnesota Housing Finance Agency), Ramsey County, U.S. Bank and many others, the Sienna Green development brings us closer to fulfilling our shared vision that everyone has a home and a community to call their own.”
Aeon said a key benefit of Sienna Green Phase 2 is that it provides desperately needed affordable rental housing to families.

U.S. Bank said it served as a construction lender and a tax credit investor on this project, committing $9.7 million in permanent financing to support the more than $12 million development.

Dignitaries at the grand opening ceremony included Roseville Mayor Dan Roe   and Minnesota Housing Finance Agency Assistant Commissioner Marcia Kolb.

Aeon officials said Sienna Green is a model for developing affordable housing options in a sustainable and feasible way. In phase I, the developer revived an aging housing stock; in phase II, it built new housing aimed at serving low-income families. 

Four of the 50 units are being designated for people transitioning out of long-term homelessness, Aeon noted.

The Sienna Green complex is located at the southwest corner of Snelling Avenue North and Highway 36.

Aeon builds, owns and manages gigh-quality affordable homes in the metro area. Since its founding in 1986, Aeon said it has built, preserved or renovated 2,106 apartments and townhomes, providing housing to more than 3,500 people each year – including individuals and families with low to moderate incomes and formerly homeless individuals.