GRAND MARAIS, MINN., Sept. 19, 2025- – The Heights, Bluffs formally opened for leasing today in Grand Marais. The Heights, Bluffs is a 36-unit multi-family rental housing building on the west edge of the city. Apartments include studio, one-bedroom and two-bedroom units ranging from 427 to 840 sq. ft.
Construction began June 3, and projected move-in is late November or early December of this year. “This incredibly fast build time is possible by using modular components, supplied by Dynamic Homes and Ideal Homes,” stressed Gary Latz, project manager. The pieces of the building, called modules, were constructed at Dynamic Homes’ facility in Detroit Lakes and trucked to Cook County. Site work began at the same time and concluded Sept. 12. The modules were assembled on site between Sept. 15 and 19.
Features include: an elevator, balconies or patios for all units, 9-foot ceilings, ample storage including 42” kitchen cabinets, walk-in closets for one-bedroom plans, ceiling fans, washer/dryers in most units, and the ability to have up to two pets. The apartments are conveniently located, with a 10-minute walk on city sidewalks to downtown, ample parking, planned community amenity area, community garden, community activity room, security surveillance, planned solar panels, EV charging station, and fenced yards for first-floor units.
The Heights also offers a possible financial model for future housing projects. The $9 million project includes $3 million of owner equity, nearly $1 million in grants, and over $5 million in loans from multiple lenders, with a total of 17 different funding sources. Latz pointed out that it is not just about funding. “A spirit of cooperation and teamwork between the HRA, City of Grand Marais and Cook County has been critical for The Heights. We could not have reached this point without that support,” he added.
Eighteen of the apartments are offered at market rates. The remaining eighteen are available at discounted rates per income guidelines established by Minnesota Housing Finance for tenants earning between 80% and 60% Area Median Income (AMI) for Cook County.
“In addition to meeting existing housing needs, we identified the following significant issue and potential renter. A Cook County employer interviews candidates and makes an offer. The candidate has a short time to find suitable housing. If they fail to find housing, they often turn down the job offer. We are positioning the Heights as their ‘landing pad.’ They can accept the job, rent an apartment at The Heights, and give the job and community a chance,” Latz summarized.
Another market is homeowners who wish to downsize from a single-family home into a low-maintenance lifestyle. An added benefit is in selling their single-family homes, additional housing options open up for both locals and new folks.
For more information about The Heights, Bluffs call Bachand Property Management at 715- 394-4667 or visit their website TheHeightsBluffs.com.
List of funders
Considerable support was also provided by The City of Grand Marais, Cook County, IRRR, the HRA and EDA, Lloyd K Johnson Foundation, Members Community Credit Union, Northland Foundation, Arrowhead Regional Development Commission, Boreal Waters Community Foundation (formerly DSACF) and Grand Marais State Bank, to name a few.
About CCREF Hwy 61 LLC and REVocity:
Established in 2022, CCREF Hwy 61, LLC is owned Cook County Real Estate Fund Limited Partnership. The limited partnership is managed by a local group from Cook County who joined REVocity to establish a real estate fund. REVocity helps smaller communities get meaningful real estate projects identified, financed, and completed. We start by identifying cities that will benefit, and then we bring local investors, businesses, and partners together. This collaborative approach – called impact investing – gives civic minded community members an opportunity to invest to enhance their local economy and receive a financial return. REVocity currently has 15 established community real estate funds. Our investors range from private individuals to businesses and nonprofits. REVocity is an affiliate of Rebound Partners, an integrated investment and management company based in Northfield, Minn.
