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Loom Apartments (Onward)

 

The Loom Apartments project is a 100% affordable housing development on a Gateway corridor location (515 4th Street NW, along Civic Center Drive) into the DMC District that will provide 141 homes in the downtown at 50% of Area Median Income (AMI) rents. This project is poised to serve as a key component in the region's commitment to sustainable, affordable housing solutions as it would be the first private development to utilize on-site geothermal wells to support heating and cooling. Loom Apartments will serve as Phase I of a two-phase affordable housing initiative, and includes activation of the ground floor including biking amenities and community-oriented commercial space.

Project Impact(s): Housing

This project is in Develop Phase

  • Explore this page to view Beam's assessment of the basic description of the project, its impacts and collaboration atrributes. Also shown are status reports related to the project.
  • Please click this Link to get to Beam's view of the project's strategy, expected results, and monitored metrics.

Collaborators, Project Type, Impacts, Related Projects

Collaborators 

Lead Organization: DMC EDA

Contact: TBD ; Email: TBD ; Phone: TBD

Known/Likely Collaborators: City of Rochester, MN ; DMC EDA

Potential Collaborators:


Related Projects


Impacts 

Major Impact:  Housing

PlanScape Impacts :

Level 1: Housing

Level 2: Housing: Affordable Rate, Heart of the City

DMC Impacts:

Community Health Impacts:


Type of Project

Building  

 

 

 

Reports on: Loom Apartments (Onward)


Loom Apartments (Onward) (December 20, 2025)
Dec 2025 DMCC Board Meeting: Request for Extension Authorize an extension of the $4 million GSIA allocation to this project until August 15, 2026.

May 2025 DMCC Board Meeting

Read more ...


    

 

 

Last modified by allnode on 2025/12/19
Created by allnode on 2017/02/08

 

 

 

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Project Phase Definitions
The following defines the various project phases:
  1. Available - a product, program or service is in production
  2. Develop - program or application is being developed
  3. Plan - idea is solid, stakeholders are identified, and there is strong commitment to go forward from all parties.
  4. Concept Phase - idea scoped out with enough details to give an early sizing and/or to build a proof of concept
    demonstration
  5. Pre-concept Phase - an early idea or a requirement.
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