Tareen Development Partners Enhances St. Paul Housing with New Apartment Acquisition

Tareen Development Partners Acquires Afton View Apartments in St. Paul

St. Paul, Minnesota – May 14, 2026
Tareen Development Partners (TDP) has made a significant move in the real estate market with the acquisition of Afton View Apartments, a 286-unit residential complex located in St. Paul, MN. This acquisition marks TDP's third venture into affordable housing within the Twin Cities, underlining the firm's commitment to enhancing community living.

Originally constructed in 1971, Afton View Apartments has long been a vital resource for housing in the area, offering stability for working families and residents. The property features 268 units supported by a HUD project-based Section 8 contract, ensuring continual access to affordable housing.

Plans for Rehabilitation

Tareen Development Partners plans to embark on substantial renovations of the Afton View Apartments, utilizing 4% Low-Income Housing Tax Credits (LIHTC) and tax-exempt bond financing, slated for 2026. These renovations are set to not only prolong the lifespan of this crucial housing asset but also provide noteworthy upgrades to both the apartments and the common areas, enhancing overall living conditions for the residents.

Dr. Basir Tareen, the founder and CEO of TDP, emphasized the importance of preserving affordable housing. He stated, “The preservation of affordable housing communities like Afton View Apartments is critically important for the long-term stability of the Twin Cities housing market. This project represents a significant reinvestment into the property and reflects our commitment to providing residents with high-quality housing while maintaining long-term affordability.”

Collaborative Efforts

This acquisition would not have been possible without the support of TDP's development partners, including Bridgewater Bank, Winthrop & Weinstine, the City of Saint Paul, and Stewart Title Company. Each of these partnerships plays a crucial role in facilitating TDP's mission-driven initiatives which aim to provide affordable housing solutions across the region.

About Tareen Development Partners

Founded in 2021, Tareen Development Partners is a mission-driven real estate development firm based in the Twin Cities. Known for its reputation as a reliable partner, TDP focuses on delivering high-quality projects across a variety of asset classes, including market-rate and affordable housing, healthcare facilities, and mixed-use developments. TDP manages each stage of development, from land acquisition to asset management, ensuring a holistic approach to community-centered projects.

With this latest acquisition, Tareen Development Partners continues to demonstrate its commitment to enhancing the fabric of the Twin Cities community, reinforcing its role as a leader in affordable housing development.