minnesota Preservation Plus
Preventing the Loss of Minnesota’s
Affordable Rental Housing Stock

Program Goal: Preserve 18,000 units* of affordable rental housing statewide over the next ten years, in partnership with Minnesota Housing and Family Housing Fund.

The supply of affordable rental housing is threatened as units are lost each year to physical deterioration, opt-out from federal housing programs, and market-rate conversion. Lack of affordable rental housing destabilizes families and threatens community vitality. Greater Minnesota Housing Fund, Family Housing Fund and Minnesota Housing are collaborating on the Minnesota Preservation Plus Initiative (MPPI), with a goal to preserve 18,000 units of affordable housing over ten years. MPPI is funded by The MacArthur Foundation as part of its national Window of Opportunity initiative to support the preservation of affordable rental housing nationwide. To address the preservation challenges facing our communities, GMHF will:

• Create clear funding priorities based on preservation risk factors and target limited subsidy resources to high priority developments.
• Design model buyer-seller transactions that will enable more cost-effective and efficient ownership transfers.
• Develop preservation training programs for sellers and buyers of aging affordable housing developments to increase the scale of preservation transactions statewide.
• Deliver flexible loan products that address the unique challenges associated with affordable rental preservation financing.
• Identify and advocate for policy and program changes that will result in increased preservation activity.

Please contact us at gmhf@gmhf.com or 800.277.2258 if you would like more information on this program.

* Includes both subsidized and unsubsidized units.

Support the mission of
Greater Minnesota
Housing Fund