Greater Minnesota Housing Fund is the leading community development financial organization dedicated to creating and preserving affordable housing in the state of Minnesota.

Greater Minnesota Housing Fund (GMHF) is a nonprofit affordable housing intermediary and Community Development Financial Institution (CDFI).

GMHF’s mission is to invest in affordable housing and sustainable development to strengthen communities in Greater Minnesota and ensure that everyone has a safe, decent and affordable place to call home.

Since 1996, GMHF has:
Awarded more than $270 million
to over 500 developments
in more than 150 communities
helping to create over 14,100 homes
leveraging over $1 billion in development.

GMHF was born out of a vision shared by The McKnight Foundation and Blandin Foundation to create a responsive, innovative intermediary that could address the unique affordable housing needs of Greater Minnesota’s rural areas, small towns, city centers and tribal lands. In 1996, these foundations committed $25 million to create GMHF and have continued to provide major ongoing support in the years since, committing over $100 million.

Thanks to their support and the dedication of other funders and investors, GMHF is now the largest affordable housing intermediary in Minnesota. GMHF operates a $42 million revolving loan fund, provides gap financing for homebuyers and affordable rental housing development and preservation, supports local communities and housing organizations through specialized grant support, and offers housing development and technical assistance training to communities across our service area of the 80 counties of Greater Minnesota.

Since 1996, we’ve created and preserved over 14,100 homes and apartments. We’re positioned to help investors and developers align forces to create and sustain the affordable housing needed to sustain Minnesota’s robust workforce and thriving economy now and in the future.

GMHF Map of impact

Our Impact In Action

See real-world examples of affordable housing created, and families housed thanks to the successful collaboration of impact investors, community partners, developers and the Greater Minnesota Housing Fund.

Dayton creates task force to address ‘persistent crisis’ regarding affordable housing

Gov. Mark Dayton announced Thursday the creation of a large task force to examine and make recommendations on affordable housing, calling it a “persistent crisis” for Minnesota families. The nonpartisan Governor’s Task Force on Housing will make recommendations by July 31 to include specific policy proposals and actions that can be taken by the executive [...]

Impact Investors see social impact returns

The McKnight Foundation is one of many foundations that have decided to use their endowments to further their mission. McKnight makes low-cost loans to entities like Greater Minnesota Housing Fund to contribute to a thriving, sustainable region and state. As a Community Development Financial Institution (CDFI), GMHF is able to invest the capital to create [...]

GMHF receives $10M in eight-party, $145MM bond issue

For the second time, small to midsized lenders, with total assets as low as $28 million, are participating in the U.S. Treasury Department’s CDFI Bond Guarantee Program, an innovative financing program that provides long-term, fixed rate loan capital to lenders serving underserved areas of the country. Opportunity Finance Network’s (OFN) $145 million bond issue involving [...]

Off the floor and into dignified digs – Higher Ground St Paul delivers

GMHF staff had the opportunity to tour one of the latest achievements in affordable housing and serving homeless individuals: Higher Ground Saint Paul, the new shelter and supportive housing development in downtown Saint Paul developed by Catholic Charities, under the leadership of Tim Marx, CEO. Higher Ground is an incredibly inspiring development in its scale [...]

Colorful banner image featuring the skyline that you might typically see in a small city or town in Greater Minnesota.


Greater Minnesota Housing Fund
332 Minnesota Street
Suite 1201-East
Saint Paul, MN 55101

Main 651.221.1997
Fax 651.221.1904

GMHF is a Partner You Can Trust