GMHF in the News

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

Minnesota Partnership Helps Preserve Rural Housing

Former GMHF director of lending and programs Robyn Bipes published this article in the March 2017 issue of Community Development Investments. By Robyn Bipes, Vice President of Loan Fund and Mortgage Lending, Twin Cities Habitat for Humanity Some housing crises grab national headlines: sub-prime lending, the collapse of the housing market, or the urgent need… 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

Low-income housing developers scramble for financing amid uncertainty about tax reform

Star Tribune reporter Emma Nelson reports that the election of Donald Trump has introduced great uncertainty as to the future of the critical low income housing tax credit program, a keystone in how affordable housing is financed today. Financing for low-income housing across Minnesota has dried up in recent months, leaving developers scrambling to fill gaps… More

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Greater Minnesota Housing Fund
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