From the Pioneer Press: A Minneapolis-based nonprofit has bought 118 apartments in Little Canada in order to keep them affordable. Aeon announced Friday that it had purchased The Provinces, an apartment complex west of Interstate 35E on Little Canada Road. The buildings, which are home to roughly 300 residents, were previously owned by Dominium. To finance [...]
Private developers prefer to build in the Twin Cities and other large communities. They see higher risks in greater Minnesota, largely because many of the areas short of housing rely on one or two major employers. If one closes to cuts back, it may be hard or impossible to collect enough rent to make a profit. [...]
Housing Justice Center brought a class action lawsuit against the apartment owners of Crossroads at Penn, now Concierge Apartments in Richfield. A settlement awarded the displaced Crossroads tenants $650,000, with about $290,000 reserved for the tenants, and over $200,000 designated for the NOAH Impact Fund. The $200,000 will be used to assist tenants in NOAH [...]
FOR IMMEDIATE RELEASE Madison, Wis. (November 3, 2017) – Community leaders, local residents and development partners came together today to celebrate the start of construction for The Flats at Grandview Commons, a new 94-unit affordable housing community designed for working families in the region. Developed by Royal Capital Group, the new community is being built [...]
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 [...]
Clare Kennedy reported on Aeon’s purchase of 10 older apartment buildings in Finance & Commerce’s Nov. 1, 2017 issue. In one $77 million mega-deal, nonprofit housing developer Aeon has purchased a portfolio of 10 older apartment buildings comprising 768 units. The Minneapolis-based affordable housing developer and owner closed Tuesday on the transaction. Six of the properties [...]
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 [...]
In 2007, a group of Perham business owners and corporate executive got together to talk about housing. They faced similar issues. Each had a desire to grow their businesses by hiring more workers and expanding their reach, but a lack of available housing in and near Perham was holding them back. The problem was theirs, [...]
Greater Minnesota Housing Fund
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