Hennepin County

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

Housing fund looks to prevent displacement, gentrification

With the help of a $3 million contribution from Hennepin County, a $25 million fund is being assembled to purchase properties at risk of being purchased, renovated and gentrified. A metro rental market experiencing a vacancy rate under 3 percent has made certain apartment complexes attractive to developers looking to leverage that demand. Examples of… More

Fountain Terrace

New effort aims to save affordable housing in Hennepin County, metro area

A familiar scenario is increasingly playing out across the Twin Cities: Affordable housing being revamped into higher-end rentals with everything from dog spas to granite countertops, forcing out lower-income residents. Now a new funding initiative, the first of its kind in Minnesota, is being created to help reverse that trend. This week, Hennepin County approved… More

fox-9-affordable-housing

How Hennepin County is preserving affordable housing

Greater Minnesota Housing Fund was granted $3 million Tuesday from the Hennepin County Board of Commissioners they will use to continue to build a $25 million fund to help keep people housed. The preservation effort is particularly mindful of those on section 8 or rent subsidy vouchers like Merche Banks, a single mother from Richfield, Minn… More

Emerald Park Apartments

Hennepin OKs $3M for affordable housing fund

A new investment fund aimed at preserving thousands of affordable housing units in the metro area got a $3 million boost Tuesday when the Hennepin County Board of Commissioners voted to support the effort led by the Greater Minnesota Housing Fund. The Hennepin County resolution sets aside $3 million to help save 1,000 affordable units… More

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