Potential Development Near Northstar Rail Station
Plans are in the works to create a new development project next to the Northstar Commuter Rail station (behind Target) on land owned by the Anoka County Regional Rail Authority. This plan will include a 176-unit market rate apartment building, a 63-unit mixed-income apartment building and a small retail component. Minneapolis-based Sherman Associates will be leading the $51 million project, which could break ground by early 2017 if funding is received.
Coon Rapids Economic Development Coordinator, Matt Brown, says "Most of the project will be funded by a combination of private equity federal tax credits, a Metropolitan Council grant, and a small amount of it would also come in the form of tax increment financing from the City. It’s really exciting to see interest in new construction here in Coon Rapids.”