Nicollet Island residents form cooperative to buy back 6 Victorian homes from nonprofit

Residents of Nicollet Island in Minneapolis are banding together to purchase six historic Victorian houses currently owned by TCHDC, a nonprofit facing financial difficulties. The residents have formed the Nicollet Island Cooperative to lead the acquisition effort and preserve affordable housing in the area. The cooperative is partnering with Land Bank Twin Cities to structure a buy-back arrangement for the properties. Negotiations with the current property managers are ongoing as both sides work toward a long-term solution.