GMHF in the News

Aff. Housing Finance: 768 Homes to Remain Affordable in the Twin Cities

Aeon has acquired 10 properties to preserve the affordability of 768 apartments in the Twin Cities region. The $77 million transaction marks the largest acquisition in the 31-year history of the nonprofit developer, owner, and manager of affordable homes. The purchase also represents the first project funded by Greater Minnesota Housing Fund’s (GMHF’s) recently formed… More

Nonprofit Aeon lands $77M apartment portfolio

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… More

More than 750 Apartment Homes in Twin Cities to Remain Affordable Thanks to Broad Partnership

FOR IMMEDIATE RELEASE (MINNEAPOLIS – October 31, 2017) Today Aeon, the NOAH Impact Fund of Greater Minnesota Housing Fund (GMHF), and Enterprise Community Investment, Inc. completed the purchase of 768 apartment homes across 10 properties in Bloomington, Brooklyn Center, New Hope, and St. Paul. Other key partners in the project include Bellwether Enterprise Real Estate Capital… More

A new place to call home

As reported by Matthew Liedke in the Bemidji Pioneer on Oct. 27, 2017. The atmosphere in downtown Bemidji was charged and optimistic Friday morning, as government officials, organization personnel and business leaders celebrated the opening of Park Place Apartments. The complex, managed by the Duluth-based Center City Housing Corp., includes 60 units, with 40 dedicated… More

Tenants reach settlement, set aside $200K to assist renters in NOAH preservation properties

It’s a record award of its kind in nation, housing advocates say. Star Tribune reporter Miguel Otárola reported on Oct. 19, 2017 that former tenants of a 698-unit apartment complex in Richfield and their landlords reached what affordable-housing advocates are calling the largest settlement of its kind in the nation. The settlement resolves a housing… More

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