Polaris Foundation Awards $300,000 to Support Creation of New 41-Unit Apartment Complex in Roseau, MN
By Business Wire News
By Business Wire News
The Polaris Foundation, the philanthropic arm of Polaris Industries Inc., has provided a grant of $300,000 to help construct Tamarack Place, a 41-unit apartment building in Roseau, Minnesota, the birthplace of Polaris and home to a major Polaris engineering and manufacturing center. Scheduled to open in the summer of 2016, the new apartment complex will expand the housing available for the growing workforce in Roseau County.
The Polaris Foundation awarded the grant to the Greater Minnesota Housing Fund, which is working in conjunction with the Roseau County Workforce Housing Program (RCWHP) on Tamarack Place. The mission of the RCWHP is to increase housing available in the county so employers such as Polaris can continue to attract and retain top talent.
“A primary mission of the Polaris Foundation is Community Development in areas where Polaris has facilities and where our employees work, live, and play,” said Stacy Bogart, President of the Polaris Foundation. “With Tamarack Place, the Polaris Foundation hopes to enhance the quality of life in Roseau and ensure the city has a vibrant selection of premium residential opportunities for a growing workforce.”
A groundbreaking that signaled the start of construction was held Friday, August 28, at the site of Tamarack Place, 1105 Third Ave. S.W. in Roseau. County and city officials participated in the groundbreaking, along with leadership from the Polaris facility in Roseau.
Polaris Industries Inc. was incorporated in Roseau in 1954, and the company has continually operated manufacturing facilities there ever since. Polaris has expanded and upgraded its Roseau operations continually in the past 61 years, and today the company’s Roseau facilities house engineering and manufacturing for multiple product lines.
Tamarack Place will include one-, two-, and three-bedroom units with amenities such as in-unit washer/dryers, central heating/cooling, elevator service, and an outdoor recreation area. The building was designed under the sustainable guidelines of Minnesota Green Communities, and it will be a smoke-free building.
The Tamarack Place project is being developed by Sand Companies, Inc., of Waite Park, Minnesota, in partnership with Polaris, Citizens State Bank, Border State Bank, the Minnesota Housing Finance Agency, the Greater Minnesota Housing Fund, the City of Roseau, and Minnesota Equity Fund.
Polaris is a recognized leader in the powersports industry with annual 2014 sales of $4.5 billion. Polaris designs, engineers, manufactures and markets innovative, high quality off-road consumer and military vehicles, including all-terrain vehicles (ATVs) and the Polaris RANGER® and RZR® side-by-side vehicles, snowmobiles, motorcycles and on-road electric/hybrid powered vehicles.
Polaris is among the global sales leaders for both snowmobiles and off-road vehicles and has established a presence in the heavyweight cruiser and touring motorcycle market with the Victory® and Indian Motorcycle® and Slingshot® brands. Additionally, Polaris continues to invest in the global Work and Transportation vehicle industry with Global Electric Motorcars (GEM), Goupil Industrie SA, Aixam Mega S.A.S., and internally developed vehicles. Polaris enhances the riding experience with a complete line of Polaris Engineered Parts, Accessories and Apparel, Klim branded apparel and ORV accessories under the Kolpin®, Cycle Country® and Pro Armor® brands.
Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock price index.
Information about the complete line of Polaris products, apparel and vehicle accessories are available from authorized Polaris dealers or anytime at www.polaris.com.
Polaris Industries Inc.
Marlys Knutson, 763-542-0533