One Southside
Minneapolis, Minnesota
Investment
Highlights
2024
Year
$28.3 million
Development Budget
$29 million
Total Allocation
25,000
People Served Annually
Client
Southside Community Health Services
Use of Allocation Capital
Real Estate Development ($20M)
Working Capital ($9M)
Southside Community Health Services is a 52-year-old Federally Qualified Health Center (FQHC) committed to enhancing quality of life by providing culturally responsive, holistic, and patient-centered healthcare in South Minneapolis. Serving over 11,000 low-income patients annually, Southside operates two clinics that provide primary medical, dental, vision, and behavioral health services, as well as chronic disease management, health education, and workforce training programs.
To expand access to affordable, integrated healthcare, Southside is utilizing two NMTC transactions to finance and develop One Southside, a 30,950 sq. ft. community health and wellness center in the East Lake Street neighborhood of South Minneapolis. The health center serves a severely distressed area with a median family income of only 51%, a poverty rate of 27.9%, and an unemployment rate of 7.5%. The new facility will consolidate and expand Southside’s operations under one roof, increasing primary care, dental, optometry, and behavioral health services while introducing diagnostic laboratory, radiology, and mammography capabilities—making it the only FQHC in Minnesota to offer mammography services. The facility will also include 1,100 sq. ft. of flexible space for community health programming, diabetes and nutrition education, and workforce training initiatives.
Services Provided by Classic Lake:
New Markets Tax Credits Advisory
Owner’s Representation
Project Management
Community and Economic Impacts
177 construction jobs
28 new permanent healthcare jobs and 93 retained jobs
25,000 patients served annually (100% low-income persons)
55,000 total patient visits across medical, dental, behavioral health, and optometry services