Cambridge Family Apartments is proposing to build two 90-unit multi-family buildings (180 units) just north of the former Perkins site (on the corner of 2^nd Ave NE and Rochester St NE).  The units will be 100% affordable based on Isanti County’s Area Median Income. The project includes building/extending Garfield Street North and extending city utilities into the site.

The Developer is asking to finance the project, in part, with conduit financing.  This type of development qualifies for the conduit financing mechanism.  An informational meeting was held a Cambridge City Hall on Tuesday, June 9, 2006 to discuss this funding mechanism. 

Click here to view the slideshow presentation on Conduit Financing from this meeting.

You can listen to the audio recording of the meeting here.

A public hearing will be held on June 15, 2026, at 6:00pm at Cambridge City Hall in the Council Chambers.  The public hearing will be held before City Council votes on the conduit debt financing resolution.