Efficiency built into The Heights, Bluffs
The Heights, Bluffs is a new 36-unit, multi-family rental facility in Grand Marais that opened in March and is nearly completely leased after only two months. Project manager Gary Latz explained that the new project consists of 18 market-rate units and 18 income-qualified units, including studios, one- and two-bedrooms.
“Energy efficiency is important to us, the builder, because of the cost savings from the rebates that became part of the overall financing”, added Latz. “The real winners are the residents at The Heights, who enjoy lower utility bills due to the built-in savings.”
Mr. Latz stressed the importance of cooperation and teamwork between the HRA, City of Grand Marais, and Cook County to bring this project to life, and emphasized that the project would not have been possible without 18 outside funding sources – including nearly $14,000 in energy efficiency rebates from Grand Marais Public Utilities for energy efficiency measures included during construction.
A 2022 study determined there was a shortage of housing in Grand Marais, and Mr. Latz noted: “The Heights is another step in helping address the housing needs in the area.” Latz elaborated, “The new housing facility took just months to complete due to the unique, modular nature of its construction. Each of the 36 modular components was built in Detroit Lakes by Dynamic Homes, then transported up Hwy. 61 by semi-trailer, one at a time, for assembly on-site by Ideal Homes in Grand Marais.”
Latz provided another factor at play. There is a shortage of skilled trades not just in Cook County but regionally, so modular design and pre-built construction resulted in much quicker project timelines.
“The City of Grand Marais partners with SMMPA (Southern Minnesota Municipal Power Agency) to offer many energy-savings programs, including rebates like those earned at The Heights,” mentioned Grand Marais Public Utilities Administrative Assistant, Alyssa Elliott. Information can be found at 218-387-1848.
For more information about The Heights, Bluffs, call Bachand Property Management at 715-394- 4667 or 218-600-7496, or visit their website www.TheHeightsBluffs.com.
About CCREF Hwy 61 LLC and REVocity:
Established in 2022, CCREF Hwy 61, LLC is owned by 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, MN.
