Low income housing at $ 392,000 per unit

$100 million in flour power to transform Pillsbury A-Mill

 Excerpt:

More than 130 years after the Mississippi River was diverted to power the Pillsbury A-Mill, it continues to flow beneath the building -- its dull roar a constant reminder that this landmark helped make Minneapolis the flour capital of the world.

The mill stopped operating a decade ago, but the building is largely unchanged. Gaping holes in the floors mark where there were once grain chutes. Broken window panes reveal stunning views of downtown Minneapolis and St. Anthony Falls. In the disheveled offices, there's unopened mail and a pair of reading glasses on a desk, as though the people who once worked at the mill are just away on break.

Now, a robust rental market and an ambitious plan from a local developer could mean new life for the site. Dominium Co. plans to convert the complex into 255 rental apartments for low-income artists, including studios and performance spaces. The project will cost more than $100 million, making it one of the most expensive residential construction projects on the books in the Twin Cities.

"This is a once-in-a-lifetime opportunity to save this place," said Owen Metz, senior development associate for Dominium. "It's going to be an amazing project."

Comment: Of course the only way this could be financed is with state and federal government funds. Have to be a poor artist to live there! More on the A Mill here