Malmquist Estates Celebrates Grand Re-Opening

$377,683 USDA Rural Development loan helped re-model Red Wing housing complex

RED WING, Minn. Jan. 11 – Officials from Rural Development in the U.S. Department of Agriculture (USDA) visited Malmquist Estates in Red Wing today to celebrate the housing complex’s grand re-opening.

    USDA Rural Development awarded Malmquist Estates a $377,683 low-interest loan in February of 2005 to remodel the interior and exterior of the facility. The Minnesota Housing Finance Agency also contributed a $336,000 loan for the project.

    “Quality housing is essential for any thriving rural community,” said Adam Czech, Public Information Coordinator for USDA Rural Development. “Our multi-family housing programs give families in rural areas the option to live in an affordable facility, while experiencing and enjoying the unique quality of life found in rural Minnesota. The 2002 Farm Bill included funding for projects like this one. President Bush is also currently working on funding similar projects through the 2007 Farm Bill.”

    Since 2001, USDA Rural Development has invested about $2.5 billion throughout Minnesota. The agency’s multi-family housing program also played a key role in assisting citizens displaced by Hurricane Katrina find a place to live. The agency has funding available for housing, clean water, emergency services, high-speed Internet, economic development, job creation and other essential infrastructure.

    For more information on USDA Rural Development, visit www.rurdev.usda.gov/mn, or call the office in Faribault (507) 334-2206 or Austin (507) 437-8247.

Red Wing and USDA officials celebrated the turnaround of Malmquist Estates. A $377,683 loan helped rehabilitate the apartment complex.

Send mail to adam.czech@mn.usda.gov with questions or comments about this web site.
Last modified: November 01, 2007