Emerging Developers of Color (2023 Summary)

GMHF Annual Report 2023

Building Capacity, Relationships & Equity

Our commitment to providing substantial technical assistance (TA) to developers is a core strength of the EDOC program, establishing us as a trusted resource for emerging developers of color statewide. From support navigating RFPs and feedback on proformas to letters of interest for financing. Time spent on TA supports developers on their journey of creating community impact. We provided 60+ hours of technical assistance every month.

Building relationships with developers of color and with institutional partners helps bridge the gap historic inequities have caused. In 2023, EDOC program staff worked closely with staff at the City of Saint Paul and City of Minneapolis, connecting developers of color to Saint Paul Inspiring Communities, Minneapolis Homes Financing, and each city’s respective NOAH Preservation Fund programs. We cultivated new relationships with Minnesota Housing Partnership, Urban Land Institute, LISC Twin Cities, Minnesota Multi-Housing Association (MHA) and the City of Bloomington for new programming in 2024.

2023 Emerging Developers of Color Program Activities & Accomplishments

We awarded over $49.2M in financing & $429.6K in grants to BIPOC individuals, BIPOC-led organizations, Tribal organizations, and emerging developers of color.

Outreach & Engagement: Staff connected with nearly 100 prospective developers of color

responding to requests for information on loans, grants, technical assistance, or referrals to other resources and partner organizations. This outreach included in-person meetings and convenings in Otter Tail, Saint Cloud, Bemidji, Rochester, and at a gathering of 11 Tribal Nations in Prior Lake.

Designed to deliver information, create connections, and share resources, staff organized events, including:

  • Real Estate & Proforma Trainings for developers interested in acquisition and rehab of Small NOAH projects.
  • Emerging Developer Expos held in Saint Paul and Rochester with partner organizations nearby who support emerging developers.
  • Real Estate Solutions was a day-long symposium co-designed by and for practitioners working with emerging developers to address racial equity challenges in the industry.

Developers of Color Predevelopment Grant RFP: We provided direct financial assistance grants to developers to enhance their capacity to create and preserve affordable housing. Eligible applicants were individuals, Tribal governments, non-profit organizations, and for-profit organizations led by or serving people of color. Funds could be used for predevelopment costs like consultants and project managers or for training and education to build capacity for development projects.


Project Examples, Saint Paul Inspiring Communities Development Projects

GMHF partnered with the City of Saint Paul to support their Inspiring Communities program by providing technical support and construction lending to these developers. The program provides focused investment in neighborhoods most impacted by foreclosure and vacancy by constructing new housing on vacant lots owned by the Saint Paul Housing and Redevelopment Authority (HRA). The City of Saint Paul provided value gap and affordability gap funds to the projects.

All homes built through the program must be sold to homebuyers with household incomes at or below 80% AMI. Support for future homebuyers is offered by partners like Neighborhood Development Alliance, CLUES, Model Cities of Saint Paul, NeighborWorks Home Partners, and LSS Financial Counseling.

1195 BUSH AVENUE SAINT PAUL

Dayton’s Bluff Neighborhood Kali Terry of New Verticals Development acquired the vacant lot to construct a duplex with 3 bedrooms and 1 bathroom in each unit. The project expects to break ground in April 2024.

  • GMHF LENDING Construction Loan $367K

695 COOK AVENUE SAINT PAUL

Payne-Phalen Neighborhood Dalton Outlaw of Outlaw Development acquired the city-owned lot to build a duplex with 3 bedrooms and 1.5 bathrooms in each unit. The project closed and began construction in December 2023.

  • GMHF LENDING Construction Loan $395K

965 MARION STREET SAINT PAUL

Payne-Phalen Neighborhood The second of two duplexes from Black-owned development company, Outlaw Development. Transforming a once-vacant lot, this duplex will feature 3 bedrooms and 1.5 bathrooms in each unit.

  • GMHF LENDING Construction Loan $383K

This post is part of the Greater Minnesota Housing Fund 2023 Digital Annual Report. To see the full report, visit: gmhf.com/2023AR

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