D10 supports Sholom Home request for tax-exempt financing
The Como Community Council board voted in February to support the request by developers of Como Park Senior Living for $18 million in tax-exempt revenue bonds through the City of St. Paul. The bonds would provide about half the funding and leverage additional private financing to redevelop the former Sholom Home property at 1554 Midway Parkway.
The new owners hope to convert the abandoned nursing home into 168 units of assisted-living and memory-care apartments, most of which would classify as “affordable” housing for seniors. The bond request will now enter a competitive process before the city’s Housing Redevelopment Authority. If the bonds are approved, developers say construction could begin as soon as May.