Within a federally designated Qualified Opportunity Zone — investors may qualify for capital gains deferrals via a Qualified Opportunity Fund.
HUD Opportunity Zones ↗Located in the Minneapolis South Green Zone — priority access to Great Streets financing, energy cost-share programs, and CPED gap financing.
Minneapolis Green Zones ↗Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.
Metro Council — Livable Communities ↗In an ACP50 area — a Minneapolis priority designation that increases scoring for Great Streets gap financing, Affordable Housing Trust Fund, and other CPED programs.
Minneapolis — Affordable Housing Trust Fund ↗Within the East Lake Street Cultural District — eligible for Great Streets priority financing and cultural district-specific CPED programs.
Minneapolis — Cultural Districts ↗Within a HUD-designated Qualified Census Tract — LIHTC projects here receive a 30% basis boost, significantly increasing the tax credit allocation for affordable housing development.
HUD — LIHTC Qualified Census Tracts ↗Below-market loans for commercial real estate development and rehabilitation on eligible corridors; priority given to Green Zone and ACP50 locations.
Minneapolis Great Streets — Gap Financing ↗Affordable housing developments in QCTs receive a 30% increase in eligible basis for Low Income Housing Tax Credits — materially improving project feasibility. Allocated through MHFA.
HUD — LIHTC Qualified Census Tracts ↗Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.
Metro Council — Livable Communities ↗Grants and loans for contamination assessment and cleanup on eligible redevelopment sites; does not indicate known contamination.
Minneapolis — Brownfield Grants ↗Signals are based on public datasets; program eligibility requires verification.
1 permit on record since 2022 · Most recent: May 2022 (res)
CenterPoint Energy Resource Corp
Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.
Phillips West · Minneapolis
ACS rents reflect current tenant leases and may differ from new market rents.
Source: 2022 ACS 5-Year Estimates · Census Tract 1260
Zip code 55407
Source: Redfin Data Center (Invalid Date) · Zip 55407
Urban Neighborhood 3 — medium-density residential
Setbacks
Estimated Buildable Footprint
Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.
Back-of-envelope estimate based on small multifamily (2–4 units, wood frame) benchmarks for 2,093 sqft buildable area.
| Address | Owner | Class | Assessed Value | Distance |
|---|---|---|---|---|
| 2907 COLUMBUS AVE MINNEAPOLIS MN 55407 | JERRY S HAMILTON | VACANT LAND-RESIDENTIAL | $25,000 | 38 ft |
| 2853 COLUMBUS AVE MINNEAPOLIS MN 55407 | PHILLIPS VENTURES LLC | COMMERCIAL-PREFERRED | $698,000 | 64 ft |
| 2911 COLUMBUS AVE MINNEAPOLIS MN 55407 | R C LLAPA & G E PEREZ | RESIDENTIAL-TWO UNIT | $292,600 | 78 ft |
| 2915 COLUMBUS AVE MINNEAPOLIS MN 55407 | G A 0 OLALDE & N O OLALDE | RESIDENTIAL | $250,600 | 117 ft |
| 2902 CHICAGO AVE MINNEAPOLIS MN 55407 | LAKE CHICAGO PROPERTIES LLC | COMMERCIAL-PREFERRED | $520,000 | 136 ft |
| 2864 CHICAGO AVE MINNEAPOLIS MN 55407 | ALI BARBARAWI | LAND-COMMERCIAL | $146,000 | 155 ft |
| 2919 COLUMBUS AVE MINNEAPOLIS MN 55407 | BRENDA A ADAMS | RESIDENTIAL | $260,000 | 158 ft |
| 2906 CHICAGO AVE MINNEAPOLIS MN 55407 | AFC ENTERPRISES INC | COMMERCIAL-PREFERRED | $1,600,000 | 166 ft |
| 2904 COLUMBUS AVE MINNEAPOLIS MN 55407 | WARIBANIBO BANIGO-DANIELS | RESIDENTIAL-TWO UNIT | $307,100 | 181 ft |
| 2900 COLUMBUS AVE MINNEAPOLIS MN 55407 | P G YUNGA PAREDES ET AL | RESIDENTIAL | $221,200 | 184 ft |
Most Recent Sale
Current Tax Year