ABERDEEN, S.D. — Dougherty Mortgage LLC has provided a $5.1 million Fannie Mae loan for the refinancing of Dakota Estates II in Aberdeen. The 72-unit apartment property was constructed in 2018 and offers studio, one- and two-bedroom units within a three-story building. Amenities include common areas for entertaining and two fitness areas. The 12-year loan features a 30-year amortization schedule. Dakota Estates II LLC was the borrower.

A proposed 82-unit apartment complex to be built in Austin will be required to offer units categorized as “affordable” as part of a loan agreement. The apartment complex, known as Flats on 21, is a market rate multifamily housing project to be built at 1310 21st Ave. NW, behind Walmart and Runnings.

As the landscape of Austin continues to change more housing will be needed. The proposed development known as Flat 21 will hopefully fill in the need for affordable housing. Housing and Redevelopment Authority has approved this project. Executive Director Jon Erichson with the HRA says the study has given them some good insight.