
Vakker Sted is a 15-unit housing development that opened in 2022 in downtown Petersburg.
Loans and other impact investments support charitable projects.
2Program-related investments from Rasmuson Foundation in 2022
$960,000In loans or other supports
A beautiful place to call home
They call it Vakker Sted, Norwegian for “beautiful place,” a fitting name for a 15-unit housing development that opened in 2022 in downtown Petersburg.
It’s across from the hospital, a block from local schools and near supportive services.
Rents are affordable, utilities are included and the developer, Swell LLC, set aside seven units for individuals with disabilities and one apartment for someone coming out of homelessness.
It’s being operated as service-enriched housing with an on-site manager. Funding for the project included a $460,000 low-interest loan — a program-related investment — from the Foundation
