Project Will Increase Housing Available for Area’s Growing
Workforce
MEDINA, Minn.--(BUSINESS WIRE)--
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.
About Polaris
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150909005978/en/
Source: Polaris Industries Inc.