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Media Contact
Owen Truesdell
For Dominium
(952) 851-7262
[email protected]
FOR IMMEDIATE RELEASE
Schmidt Artist Lofts Selected as Semi-Finalist for National Development Award
Project is one of seven national projects in its category honored by the National Development
Council
MINNEAPOLIS — May 8, 2015 — Dominium’s Schmidt Artist Lofts has been selected as a
national semi-finalist by the National Development Council (NDC) for its Academy 2015 Awards.
The awards recognize the top economic and community development projects in the nation and
are part of the NDC Academy 2015 biennial conference. The Schmidt Artist Lofts were
nominated in the Housing Development category.
Dominium, a leading apartment development and management company, led the transformation
of the vacant Schmidt Brewery into the Schmidt Artist Lofts. Once cited as one of Minnesota’s
10 most endangered historic places, the Schmidt Artist Lofts now provide 260 units of affordable
housing for artists in St. Paul, Minn.
“The Schmidt Artist Lofts bring affordable housing to a historic neighborhood in St. Paul while
preserving an iconic part of the community,” said Dominium’s [Patrick Ostrom, Development
Associate]. “A property that once stood vacant is now a thriving artist community providing a
space for the entire neighborhood to gather.”
The $132 million rehabilitation project, led by Dominium, was financed by Alliant Capital, MetLife
and U.S. Bank. The project also benefitted from financial support from the City of Saint Paul, the
Metropolitan Council, Ramsey County and the MN Department of Employment & Economic
Development (DEED). Permanent financing is being provided by Cornerstone Real Estate
Advisors (Mass Mutual).
Completed in the summer 2014, the Schmidt Artist Lofts provides unique studios tailored to
yoga/Pilates, dance, paint, pottery, play/performance, sound and media. These studios
incorporate additional features of state-of-the-art kilns, advanced acoustics, lighting capabilities,
Wi-Fi, projectors, and the latest in sound recording/mixing equipment. Residents also enjoy a
fully equipped fitness center and multiple galleries to showcase artwork. For photos and to learn
more about the Schmidt Artist Lofts, visit: http://www.schmidtartistlofts.com/.
The Schmidt Artist Lofts was selected by NDC as a semi-finalist in the Housing Development
category. One project in each category will be awarded the top honor at the NDC Academy
2015 Awards on May 14.
About Dominium
Founded in 1972, Dominium is a Minneapolis-based owner, developer, and manager of
apartment communities nationwide. With more than 21,000 owned and/or managed units at 188
sites in 18 states, Dominium is known for creative solutions to unique and challenging
development projects, and management expertise. For more information visit
www.dominiumapartments.com.
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