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What Clover Field Marketplace - provides 117 rental apartments and 7,500 square feet of commercial space in western Chaska. The property is located in the center of the Clover Field, a traditionally designed neighborhood featuring community spaces, walkable streets and a diversity of housing options. Its proximity to a Park & Ride lot and an elementary school also offers added convenience. Where 2915 Clover Ridge Drive, Chaska Cost $24,120,130—Total development cost Who Clover Field Marketplace serves Chaska residents - predominantly entry-level and service -sector employees - who are unable to buy a home. Partnerships City of Chaska Impact The need for affordable apartment homes is not solely an urban need. The City of Chaska has recognized the need to accommodate a diversity of people and homes, as there is a critical need for housing options in this suburb. Affordability The development offers 59 affordable apartments for households earning 50 to 60% of the area median income (AMI). Of these 59 affordable apartments, there are 15 project -based Section 8 apartments for families who pay 30% of their income. This includes six units for formerly homeless individuals. Aeon has partnered with First Street & Pathways to provide these six residents with services and support. The development also offers 58 apartments that rent at market rate and are affordable for families at 70 to 80% of the area median income. Building Awards Timeline The development includes three buildings: a four- story, a three-story and a two-story building. The development offers one studio, 30 one -bedroom, 58 two -bedroom, and 28 three -bedroom units. Underground parking allows for green space and a landscaped courtyard, including a structured play space for young children. Best Multi -family Rental Development Award - Minneapolis/St. Paul Business Journal (2007) Clover Field Marketplace opened in 2008. 901 North 3rd St., Ste 150, Minneapolis, MN 55401 • 612-341-3148 • www.aeonmn.ora