New owners, renovations coming to senior high-rise

Larson Commons is getting a new lease on life.

All the pieces for the renovation of the seven-story senior high-rise building by new owners clicked into place during the Cloquet city council meeting Tuesday. That’s when councilors approved a housing program for Larson Commons along with the eventual issuance of $9.37 million in tax-exempt bonds, which will be used to pay for renovations and programming.

The bonds will be paid back by the new owners, Steele Properties, LLC, which has experience across the country with affordable housing development. The building will be managed by Monroe Group,...