Tareen Development Partners acquires 286-unit Afton View Apartments in St. Paul

SAINT PAUL, Minn., May 14, 2026 /PRNewswire/ -- Tareen Development Partners (TDP) is pleased to announce the successful acquisition of Afton View Apartments, a 286-unit housing community located in St. Paul, MN. This is TDP's third affordable housing acquisition in the Twin Cities.

Originally built in 1971, Afton View Apartments has served as an important housing resource for decades. The property includes 268 units supported by a HUD project-based Section 8 contract, providing stable housing for working families and residents across the community.

TDP plans to perform a substantial rehabilitation of the property utilizing 4% Low-Income Housing Tax Credits (LIHTC) and tax-exempt bond financing later in 2026. These renovations will extend the useful life of much-needed affordable housing and provide significant upgrades to in-unit, common-area, mechanical, and amenity areas.

"The preservation of affordable housing communities like Afton View Apartments is critically important for the long-term stability of the Twin Cities housing market," said Dr. Basir Tareen, founder and CEO of TDP. "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."

This acquisition could not have been possible without TDP's development partners, Bridgewater Bank, Winthrop & Weinstine, the City of Saint Paul, and Stewart Title Company.

About Tareen Development Partners (TDP)

Tareen Development Partners, founded in 2021, is a mission-driven real estate development firm based in the Twin Cities. The company has built a reputation as a trusted partner known for delivering high-quality, award-winning projects across various asset classes. Specializing in complex, community-centered initiatives, it focuses on market-rate and affordable housing, healthcare facilities, and mixed-use developments. With an experienced team, the firm manages all stages of development, from land acquisition to asset management.

Media contact
Yen Fostervold | [email protected] | 612-504-0566

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SOURCE Tareen Development Partners