$75M Awarded to Greater MN for Affordable, Workforce Housing

The state will kick in more than $75 million to support affordable and workforce housing development in greater Minnesota according to a publication in Finance and Commerce.

Policymakers and business leaders say a lack of available rentals is stunting economic growth.

In addition, the Minnesota Housing Finance Agency and several partner organizations will funnel about $17.2 million into affordable housing projects in the seven-county Twin Cities metro area. All together, the funding announced Thursday will go toward 51 projects that open up or preserve 1,420 affordable housing units across the state.

Read the entire article here.

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Clare Housing won $420,000 from the state for its Marshall Flats project, which will add 36 new rental units to Minneapolis’ housing mix. The development is geared toward those with HIV/AIDS. Submitted rendering: Minnesota Housing Finance Agency

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