BlueLine Development, Fargo Housing & Redevelopment Authority Break Ground on 65-Unit Lynn's Landing Affordable Community

FARGO, N.D. — BlueLine Development and the Fargo Housing & Redevelopment Authority have closed financing and broken ground on Lynn's Landing, a 65-unit affordable multifamily development at 2458 18th St. South in Fargo, North Dakota. Construction began Aug. 31, 2026, with completion anticipated in early September 2027.

The project is capitalized through a combination of Low-Income Housing Tax Credit equity from The Richman Group, a construction and permanent loan from Hilltop Bank, and North Dakota Housing Incentive Funds administered by the North Dakota Housing Finance Agency. The Fargo Housing & Redevelopment Authority serves as public co-sponsor and will operate the property upon completion.

Project Details and Affordability Targets

Lynn's Landing will deliver a mix of one-, two-, and three-bedroom apartments restricted to households earning 30 to 50 percent of area median income. Amenities will include a community room, ample parking, and in-unit Energy Star appliances — including a dishwasher, washer, and dryer — in each apartment.

The development rises on the site of former public housing units that were vacated in 2024 and demolished in 2025 to make way for the new construction. The prior stock consisted of aging duplexes operated by the Fargo Housing & Redevelopment Authority. Fargo-based Roers Construction is serving as general contractor, with YHR Architects on the design.

The project carries a community tribute as well. Lynn's Landing is named in honor of the late Lynn Fundingsland, a former long-term director of the Fargo Housing & Redevelopment Authority who retired in 2017 after decades of service to the city.

Financing Structure: Richman Group, Hilltop Bank, and North Dakota Housing Finance Agency

The capital stack reflects the standard structure for LIHTC affordable housing in the upper Midwest. The Richman Group is providing tax credit equity through the federal Low-Income Housing Tax Credit program. Hilltop Bank is providing both the construction loan and permanent financing. The North Dakota Housing Finance Agency is contributing gap financing through the state's Housing Incentive Fund, a program that has been deployed alongside LIHTC awards across multiple multifamily projects in recent North Dakota allocation rounds.

The Fargo Housing & Redevelopment Authority will open the waitlist for Lynn's Landing in summer 2027 through its public website.

Market Context: Fargo's Affordable Housing Demand

The development comes as Fargo's rental market shows persistent affordability pressure. According to the Federal Reserve Bank of Minneapolis, 41 percent of renters in Fargo spend 30 percent or more of their income on housing costs — the threshold commonly used to define cost burden. Downtown vacancy rates have hovered near 3.2 percent, reflecting a tight market with limited slack for lower-income households.

The Fargo-Moorhead metropolitan area is projected to reach a population of approximately 357,000 by 2050, adding long-term demand pressure to a housing stock that has struggled to keep pace at the lower end of the income spectrum. Lynn's Landing's 30-to-50-percent AMI targeting is designed to serve cost-burdened renters who are underserved by both aging public housing and newer market-rate construction.

Lynn's Landing represents one of at least two active LIHTC projects BlueLine has in the Fargo market. The developer's Lashkowitz Riverfront Apartments — also known as The Lashkowitz — is a 110-unit LIHTC development at 30 to 50 percent AMI, financed with $21.5 million in tax-exempt and taxable bonds.

Outlook

With construction underway and a completion target of early September 2027, Lynn's Landing is expected to add 65 income-restricted units to Fargo's housing supply at a time when cost burden among renters remains elevated. The Fargo Housing & Redevelopment Authority will manage leasing and operations, with the waitlist opening the summer prior to delivery.

Sources: BlueLine Development — Lynn's Landing Groundbreaking Announcement