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Winthrop & Weinstine Celebrates Groundbreaking Ceremony for Historic Schmidt Brewery Project
Attorney John Nolde Represented Dominium Development and Acquisition, LLC in Multi-million Dollar Transaction

MINNEAPOLIS, MN – January 28, 2012. Attorneys from Winthrop & Weinstine, P.A., are proud to attend the groundbreaking ceremony for the Schmidt Artist Lofts, scheduled for January 29th, 2013, at the former Schmidt Brewery site in St. Paul.  Attorney John D. Nolde and a team of Winthrop & Weinstine attorneys handled the legal aspects of the financing and acquisition of the project on behalf of Dominium Development and Acquisition, LLC, a leading apartment development and management company located in Plymouth, Minnesota.

Commenting on the ceremony, Winthrop & Weinstine shareholder John Nolde said, “The Schmidt Artist Lofts project is a significant investment in the city of St. Paul and the West Seventh area particularly.  It is a privilege to see firsthand the positive benefits associated with this project, as well as assist in a $100 million investment into the city.”

More than $69.3 million in tax-exempt bonds were issued by the Housing and Redevelopment Authority of the City of St. Paul for the project, and in excess of $4.2 million of environmental grant funds were contributed by the city of St. Paul, originating from Ramsey County, the Metropolitan Council and the Department of Employment and Economic Development.  Furthermore, the project should receive more than $50 million in federal low-income and historic tax credits, and $22 million in Minnesota state historic tax credits.

The project consists of the historic rehabilitation of the old Schmidt Brewery on West Seventh Street, in the buildings commonly known as the Bottle House and the Brew House.  The two buildings will be rehabilitated to provide 247 new units of affordable housing.  In addition, 13 new units will be constructed.

Mr. Nolde, a shareholder at Winthrop & Weinstine, is a member of the Real Estate and Construction Law practice groups.  He has extensive experience in the areas of real estate, low-income housing tax credits, and tax-exempt bonds financings.


About Winthrop & Weinstine, P.A.
Winthrop & Weinstine, P.A. is a dynamic and growing law firm focused on building strong client relationships through responsiveness, innovation and creativity.  The firm enjoys steady growth by meeting the diverse needs of its clients from individuals and emerging-growth businesses to Fortune 500 companies in an impressive array of industries throughout the Twin Cities and nationally.


For More Information
Deb Cochran
Direct: (612) 604-6688
Winthrop & Weinstine Celebrates Groundbreaking Ceremony for Historic Schmidt Brewery Project
 
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