ALBERT LEA, Minn. - Renovations are expected to start on an old building in Albert Lea at the beginning of July.
City Manager Chad Adams tells KIMT they plan to use money from a forgivable loan to refurbish the former Ramsey School building.
He said the plan is to develop the building into 12 market rate units, and the money is serving as gap funding.
Market rate housing is any apartment that has no rent restrictions.
Neighbors in the area, like Robert Ihme, think it will help fill the affordable housing gap.
"Not everybody can afford places to live," Ihme said.
He said he's happy there's another option for people to live.
"Where we used to live, you're on a waiting list for six months," Ihme said. "It's just too hard to find good places to live."
Renovations are expected to start at the beginning of July.