Development
A Growing Portfolio
Successful real estate development requires expertise, dedication, and discipline. Shelter Corporation delivers the results you seek. We have developed and acquired a diverse portfolio of successful apartment communities and townhomes in Minnesota and Texas. Our affiliate, The Waters Senior Living, has developed senior living communities throughout Minnesota.
Efficient Financing, Enduring Partnerships
Shelter Corporation has earned a reputation grounded in two key strengths — efficient financing and enduring partnerships. We are able to negotiate complex transactions with financing from diverse public and private sources. And we have built strong partnerships that allow us to consistently deliver value — to our investors and our communities.
Financing
Efficient Financing, Enduring Partnerships
Shelter Corporation has a history of creating strong public and private sector partnerships with investors and communities, bringing exceptional value to all parties. Our reputation is built on our ability to create profitable investments and reposition existing properties for value enhancement. Shelter principals Lynn Carlson Schell and Jay Jensen deliver a disciplined and profitable approach, creating innovative solutions grounded in a knowledge of capital markets through various economic cycles.
Results Despite Complexity
Even through turbulent economic cycles, Shelter Corporation delivers results and successfully negotiates complex deals. Shelter principals have expertise in a wide variety of financing tools, helping drive successful projects:
- Institutional joint venture
- Private and public equity
- FHA, Fannie Mae, Freddie Mac
- Revenue bonds
- TIF financing
- Tax credits
Integrity Always
Honesty, hard work, and a forthright demeanor characterize the principals and people of Shelter Corporation. Our long-term financial success is due to the integrity and expertise of our talented staff.
Acquisitions
Effective Revitalization
Shelter Corporation has effectively acquired and repositioned numerous multi-family and senior living rental properties across the United States. Proficient in research, strategic improvements, price adjustments, and marketing, Shelter Corporation principals have proven they can effectively revitalize and manage a variety of residential real estate, delivering value to investors and communities through comprehensive market knowledge and intuitive financing.
Understanding Market Nuances
Market research is integral to our operations. Shelter Corporation specializes in analyzing demographics, economics, the political climate, building trends, pricing patterns and other factors to grasp the nuances of each housing market and maximize performance. While we possess broad knowledge of our existing markets, including Minnesota, Texas, and Florida, our process allows us to thoroughly analyze new markets just as effectively.
Managing Intricate Financing
Shelter Corporation's ability to assemble innovative financing from diverse public and private funding sources is drawn from our debt and equity experience. Debt financing has included tax-exempt revenue bonds, institutional joint ventures, government (public) financing, participating mortgages and commercial loans.
New Construction
Through successful long-term relationships, Shelter Corporation has developed significant expertise working with contractors, architects, and engineers to create beautiful and functional building designs. We negotiate and oversee all aspects of the new construction process, bringing significant expertise to land development, soil correction, environmental issues, prevailing wages, and city zoning requirements.
Shelter Corporation has a perfect record for on-time, on-budget construction and has never failed to retire a construction loan on the originally scheduled date. We have successfully managed new construction projects in Minnesota and Florida.
Development Summary
| Property Name | City | State | Units | Mortgage |
|---|---|---|---|---|
| Advantage Point Apartments | Glendale | Arizona | 208 | $5,764,000 |
| Andrew's Pointe Townhouses | Burnsville | Minnesota | 57 | $5,750,000 |
| Arrowood Apartments | Phoenix | Arizona | 124 | $3,436,000 |
| Austin Pointe Apartments | San Antonio | Texas | 328 | $14,000,000 |
| Birchwood Arbors | Forest Lake | Minnesota | 46 | $6,700,000 |
| Birchwood Health Care Center | Forest Lake | Minnesota | 157 | $6,300,000 |
| Brentwood Apartments | Wichita | Kansas | 196 | $3,765,000 |
| Cambridge Court Apartments | Phoenix | Arizona | 286 | $5,617,000 |
| Cedar Villas Townhomes | Eagan | Minnesota | 104 | $15,300,000 |
| Chapel Trace Apartments | Orlando | Florida | 312 | $22,984,000 |
| Chatham Village Apartments | Webster | Texas | 210 | $6,500,000 |
| Cinnamon Ridge Apartments | Eagan | Minnesota | 264 | $11,350,000 |
| Cityscape Apartments | St. Louis Park | Minnesota | 178 | $11,400,000 |
| Cliff Hill Townhouses | Burnsville | Minnesota | 32 | $1,300,000 |
| Colony Park Apartments | West Palm Beach | Florida | 130 | $14,583,000 |
| Cove on 44th Apartments | Phoenix | Arizona | 255 | $5,008,000 |
| Coventry Apartments | Roseville | Minnesota | 196 | $22,000,000 |
| Crossings Apartments | Lithonia | Georgia | 200 | $8,000,000 |
| Dakota Station Apartments | Burnsville | Minnesota | 150 | $16,500,000 |
| Doral Club Apartments | San Antonio | Texas | 297 | $12,313,000 |
| Douglas Trail Townhomes | Rochester | Minnesota | 100 | $7,400,000 |
| Dover Hill Apartments | Golden Valley | Minnesota | 234 | $16,500,000 |
| Dymaxion Apartments | San Antonio | Texas | 190 | $6,850,000 |
| Eden Point Apartments | Baton Rouge | Louisiana | 186 | $4,504,000 |
| Elmbrooke Townhouses | Minnetonka | Minnesota | 46 | $3,250,000 |
| Findley Place Townhomes | Minneapolis | Minnesota | 89 | $3,035,000 |
| Fountain Place Apartments | Glendale | Arizona | 164 | $3,221,000 |
| Fountain View Apartments | Naples | Florida | 456 | $24,000,000 |
| Grande Pointe Apartments | Orlando | Florida | 276 | $19,436,000 |
| Greenery Apartments | Tempe | Arizona | 240 | $6,760,000 |
| Holiday Inn Metrodome | Minneapolis | Minnesota | 200 | $10,000,000 |
| Honey Creek Apartments | Dallas | Texas | 656 | $20,875,000 |
| Interlachen Condominiums | Naples | Florida | 140 | $20,000,000 |
| Jackson's Landing Apartments | New Orleans | Louisiana | 276 | $6,683,000 |
| Joseph's Pointe at Upper Landing | St. Paul | Minnesota | 90 | $5,750,000 |
| Maplewood Townhomes | Maplewood | Minnesota | 31 | $2,000,000 |
| Marbach Park Apartments | San Antonio | Texas | 304 | $10,960,000 |
| Marina Bay Apartments | West Palm Beach | Florida | 192 | $15,798,000 |
| Newport Apartments | New Orleans | Louisiana | 309 | $7,482,000 |
| Oxford Place Apartments | Phoenix | Arizona | 120 | $3,326,000 |
| Palisades Park Apartments | Universal City | Texas | 304 | $8,939,000 |
| Park at Wells Branch Apartments | Austin | Texas | 304 | $17,740,000 |
| Parker Village | Robbinsdale | Minnesota | 142 | $30,000,000 |
| Pine Ridge Apartments | Phoenix | Arizona | 301 | $5,912,000 |
| Place Five Apartments | Tempe | Arizona | 440 | $12,394,000 |
| Providence Place Health Care Center | Minneapolis | Minnesota | 231 | $23,400,000 |
| Red Oak Preserve Senior | Oakdale | Minnesota | 39 | $6,250,000 |
| Red Oak Preserve Single Family | Oakdale | Minnesota | 38 | $10,000,000 |
| Riviera Pointe Apartments | Mesa | Arizona | 265 | $7,344,000 |
| Royal Oaks Apartments | Eagan | Minnesota | 230 | $12,600,000 |
| Seven Corners Apartments | Minneapolis | Minnesota | 248 | $12,000,000 |
| Sugar Creek Apartments | Grand Prairie | Texas | 336 | $5,789,000 |
| Sutton House Apartments | San Antonio | Texas | 265 | $13,382,000 |
| Symphony Place Apartments | Minneapolis | Minnesota | 250 | $20,100,000 |
| The Arbors at Red Oak Preserve | Oakdale | Minnesota | 29 | $6,600,000 |
| The Colony at Eden Prairie | Eden Prairie | Minnesota | 142 | $24,000,000 |
| The Lexington Apartments | Roseville | Minnesota | 254 | $15,500,000 |
| The Pointe at St. Joseph Apartments | South Bend | Indiana | 202 | $10,500,000 |
| The Waters of Minnehaha, Senior Living | Minneapolis | Minnesota | 77 | $15,500,000 |
| Timber Lake Apartments | Tempe | Arizona | 180 | $4,989,000 |
| Venetian Isles I | West Palm Beach | Florida | 288 | $27,826,000 |
| Venetian Isles II | West Palm Beach | Florida | 112 | $13,358,000 |
| Venice Cove Apartments | Fort Lauderdale | Florida | 150 | $15,175,000 |
| Waybury at Chaska | Chaska | Minnesota | 114 | $8,000,000 |
| Windover Health Club Apartments | Melbourne | Florida | 236 | $8,400,000 |
| Windover Oaks Apartments | Titusville | Florida | 238 | $8,250,000 |
| Windsong Place Apartments | DeSoto | Texas | 200 | $4,112,000 |
| Winfield Townhomes | Savage | Minnesota | 134 | $18,700,000 |
| Woodbury Estates, Senior Living | Woodbury | Minnesota | 64 | $10,470,000 |
| Woodbury Health Care Center | Woodbury | Minnesota | 207 | $11,480,000 |
| Woodbury Villa | Woodbury | Minnesota | 75 | $5,400,000 |
| Total | 14,124 | $790,510,000 |
