Minneapolis architecture giant makes key acquisition to expand affordable housing

CRA's expertise a key for Mpls. architecture giant.

 LHB, one of the state's largest architecture and engineering firms, said a recent acquisition will help it meet a growing need for affordable housing in the Twin Cities area.

The company on Tuesday closed a deal to purchase St. Paul-based Cermak Rhoades Architects (CRA), doubling its team of designers who are focused on residential projects. The deal will increase LHB's ability to design supportive and affordable housing in a market where demand for income-restricted housing outstrips supply, said LHB Chief Executive Rick Carter.

"Having CRA join LHB provides our clients with a wealth of knowledge to help them acquire funding, to guide them through approval processes, and to create designs to meet current and future housing trends," Carter said.

Terms of the deal were not disclosed.

Cermak Rhoades closed its operations in downtown St. Paul earlier this week and moved about 10 staffers into LHB's Minneapolis office, one of four in Minnesota and Wisconsin. CRA was founded in 1993 and is known for taking on challenging projects for underserved populations.

Nationwide, there have been several major mergers and acquisitions of architecture firms, but few notable deals in recent years in the Twin Cities.

LHB's work includes a broad range of commercial design projects, such as Duluth Children's Hospital, the National Eagle Center and several buildings at Carleton College.

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"Minneapolis architecture giant makes key acquisition to expand affordable housing"; By Jim Buchta; StarTribune; October 2, 2019

Keywords: Affordability, Developers, HousingCrisis

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