NOAH Impact Fund

Fund aims to curb rising rents in Twin Cities

Article by Hank Long in Finance & Commerce. Last July when CommonBond Communities paid $16.3 million for the 112-unit Boulder Ridge apartments in Apple Valley, it marked the nonprofit housing provider’s entry into the market-rate multifamily category. The St. Paul-based organization — which owns and operates more than 100 properties offering affordable housing in Minnesota… More

Minneapolis explores city loans for nonprofits to preserve affordable housing

As reported By Emma Nelson in the Star Tribune on 3/28/2017. When an affordable housing complex comes up for sale in Minneapolis, buyers who want to keep rents low could soon have access to loans from the city. The 2017 city budget includes $1.5 million to preserve "naturally occurring affordable housing," and pending City Council approval… More

Impactful Mission

As reported in the Spring 2017 issue of Affordable Housing News. For the first time, real estate buyers who wish to preserve affordable housing properties in the Twin Cities metropolitan area will have access to a $25 million fund to help them do so. The NOAH Impact Fund is the result of a partnership between… More

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GMHF creates $25M fund to preserve unsubsidized affordable housing

After years of watching the Twin Cities' affordable housing market grow increasingly tight, a group of affordable housing advocates, nonprofits and private companies has decided to take the problem into its own hands. The Greater Minnesota Housing Fund, a nonprofit affordable housing lender, is developing the nation's first regional pool of money to help buyers… More

Star Tribune editorial features GMHF’s new fund to help preserve affordable housing stock

The midrange and luxury rental housing markets are hot in the Twin Cities — largely driven by demand from those earning $50,000 or more a year. They have the means to live in the new and renovated, amenity-filled buildings that are quickly rising across the metro area. Yet as more upscale rental buildings open, fewer… More

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