Robert Boisclair (1939-2011), Founder
Robert Boisclair has been referred to as a renaissance man in the real estate development industry. A graduate of the University of St. Thomas, he had a long tenure with Bor-Son Construction overseeing $370MM in development projects, including the nation’s largest public housing project for the City of Baltimore.
Boisclair also served as President of Shelter Development Corp, expanding the company to Washington, D.C., Florida, Illinois and California developing over 20,000 housing units. While at Shelter, Boisclair worked alongside Vice President Hubert H. Humphrey and forged a joint venture partnership with a Japanese construction and engineering company, Kajima Corporation. This partnership built the first major condominium high-rise in the City of Minneapolis, Lake Point Condominiums overlooking Lake Calhoun.
In 1974, Boisclair left Shelter Corp to form Boisclair Corporation. Under his guidance the Corporation has created a wide range of developments from luxury housing, retail, mixed-use to affordable housing developments valued at more than $750MM.
Boisclair Corporation developed the nation’s first Section 8 federally subsidized leased housing development, recognized by Congressman Bill Frenzel as acknowledged in the Congressional Record.
Boisclair’s crowning achievements were his visionary contributions to the revitalizations of the riverfront and city center areas of Minneapolis and St. Paul. He pioneered the development of Riverplace in Minneapolis on the historic east bank of the Mississippi, with 400 condominiums, 200,000 sq. ft of office and 100,000 sq. ft of retail, alongside a 3,000 parking stall underground garage. He was instrumental in advocating for the elegantly designed suspension bridge over the Mississippi, replacing the intended “freeway flat bridge”, providing a visual capstone to the riverfront area.
Boisclair Corporation was selected by the city of St. Paul to revitalize the Lowertown District and developed Galtier Plaza overlooking Mears Park. The $140MM development consisted of 500 condominium & rental units, 400,000 sq. ft. office, 120,000 sq. ft. retail and a 1,000 stall underground parking garage linked by skyway to downtown St. Paul. The 46-story Towers of Galtier continues to be the tallest residential tower in Minnesota.
Since 1974, Boisclair Corporation built over 3,000 Section 8 units with the preservation of more than 1,000 affordable housing units, development of market rate, luxury housing and restaurant development.
Lori Boisclair, President
In 1990, Lori Boisclair joined Boisclair Corporation as Vice President of Property Management. Her responsibilities included the setting and implementation of asset strategy. She supervised and directed property managers, lease underwriting and capital investment for the Boisclair Corporation portfolios. She forged strong partnerships with Local, State and Federal housing agencies overseeing Housing Tax Credit, Section 8, 236, and 202 financed multifamily projects as well as Market Rate multifamily acquisitions, new construction, preservation of affordable housing and historical rehabs.
Ms. Boisclair became President in 2009. She directs all Corporate, Property Management, Development and Acquisition activities. Lori Boisclair has worked on acquisition of existing market rate and affordable housing, new project development. She is directly responsible for the role of financing over $275MM, and assisted in raising over $130MM in equity.
She has expertise in design concepts, market & financial modeling and analysis.
Before joining Boisclair Corporation, Lori’s real estate enterprises consisted of ownership in a local ERA franchise involved in residential real estate brokerage, finance and construction. Ms. Boisclair also worked for a Twin Cities developer focused on the downtown market segments in commercial leasing, management and rehabilitation.