News

Articles and Press by and about Greater Minnesota Housing Fund

  • Otto Bremer Trust has record year of giving
    As reported by Shannon Prather in the Star Tribune in January 2017, the Otto Bremer Trust, the charitable foundation that owns 92 percent of Bremer Bank, gave away a record $47.3 million in 2016 — the largest annual amount since bank founder Otto Bremer created the trust in 1944. The funding, in the form of grants and program-related ...
  • Duluth’s Gateway Tower to receive $18.5M redo with MEF equityDuluth’s Gateway Tower to receive $18.5M redo with MEF equity
    They’re already planning to return in about a year to celebrate the end of a project so extensive it will replace virtually everything but the property’s concrete shell – and even that will be covered by a new contemporary metal skin. “We’re really happy to make an intervention to protect the building,” said Jeff Corey, executive ...
  • GMHF creates $25M fund to preserve unsubsidized affordable housingGMHF creates $25M fund to preserve unsubsidized affordable housing
    After years of watching the Twin Cities’ affordable housing market grow increasingly tight, a group of affordable housing advocates, nonprofits and private companies has decided to take the problem into its own hands. Greater Minnesota Housing Fund, a nonprofit affordable housing lender, is developing the nation’s first regional pool of money to help buyers who want ...
  • Dayton announces $80M in affordable housing investments from MN Housing, GMHF & co-FundersDayton announces $80M in affordable housing investments from MN Housing, GMHF & co-Funders
    Joined by Minnesota Housing Commissioner Mary Tingerthal and community leaders, Governor Mark Dayton today announced $80 million in funding to create and preserve 1,831 affordable housing units throughout the state. These investments will leverage private and local resources to support $300 million in total development costs and support more than 2,800 jobs. “This funding will stimulate jobs and ...
  • Beacon Hill supportive housing community opens in Grand RapidsBeacon Hill supportive housing community opens in Grand Rapids
    The idea for the 48 new homes and supportive services for low-income individual and families, as well as formerly homeless and disabled individuals came out of the 18-month Housing Institute co-hosted by GMHF and the Minnesota Housing Partnership. Itasca County HRA worked closely with a close-knit group of project partners which included the Minnesota Department of ...
  • Star Tribune editorial features GMHF’s new fund to help preserve affordable housing stockStar Tribune editorial features GMHF's new fund to help preserve affordable housing stock
    The midrange and luxury rental housing markets are hot in the Twin Cities — largely driven by demand from those earning $50,000 or more a year. They have the means to live in the new and renovated, amenity-filled buildings that are quickly rising across the metro area. Yet as more upscale rental buildings open, fewer affordable units ...
  • Editorial: Busting myths about affordable housing and the people who live thereEditorial: Busting myths about affordable housing and the people who live there
    It’s a scenario that plays out again and again, in every corner of The Corridor: a developer announces plans to create affordable housing units outside “those” neighborhoods where such units already are relatively plentiful, and neighbors start complaining. The torpedoing last month of a 45-unit, mixed-income housing complex along Edgewood Road in Cedar Rapids was only ...
  • How luxury apartments in Uptown affect low-income tenants in FrogtownHow luxury apartments in Uptown affect low-income tenants in Frogtown
    Crossroads at Penn in Richfield and Meadowbrook Manor in St. Louis Park were middle-aged apartment complexes that offered a large supply of what has become known as naturally occurring affordable housing, NOAH for short. They aren’t public and they aren’t subsidized, but their owners did accept state and federal housing vouchers that helped low-income tenants pay ...
  • Report: Investors upgrade apartments, displace rentersReport: Investors upgrade apartments, displace renters
    Apartment sales in the seven-county metro increased 165 percent between 2010 and 2015, according to the report, which analyzed data from Marquette Advisors, CoStar and Finance & Commerce’s Twin Cities Apartment Sales Tracker. Many units – often in Class B or Class C buildings – are being refurbished, rebranded and leased for more than the ...
  • American Indian Community Development Corp. delivers housing on E. Franklin Av.American Indian Community Development Corp. delivers housing on E. Franklin Av.
    Gabriel Corbesia works as a security guard and recently graduated from Summit Academy near the top of his carpentry class. Corbesia, a member of the Lac Courte Oreilles Band of Lake Superior Chippewa who grew up in the Phillips neighborhood of Minneapolis, has wrestled with alcoholism and homelessness. Today, he is a thankful, productive citizen who also ...
  • Hot market for buyers is driving loss of affordable rentals in Twin CitiesHot market for buyers is driving loss of affordable rentals in Twin Cities
    It seems not a week goes by lately without news about low-income tenants forced to move when their landlord sells their apartment building to investors. A new report offers numbers behind those anecdotes, illustrating a major shift in the local rental market. In “Sold Out,” released this week, the Minnesota Housing Partnership found that sales of ...
  • Help for a family in needHelp for a family in need
    Meet this family whose lives have been changed for the better thanks to our development and investment partners. Not long ago, Tammy Jacka and her three sons were living in a drafty manufactured home in Thief River Falls. By spring 2014, Tammy realized she was paying almost 300% of what most people pay to heat their ...
  • MN Housing, USDA Rural Development, DEED & GMHF co-host North Shore regional dialogueMN Housing, USDA Rural Development, DEED & GMHF co-host North Shore regional dialogue
    For full story and radio news coverage, visit the WTIP website. Housing forum at North House builds framework for action Mary Tingerthal is the Commissioner for Minnesota Housing Finance Agency, an organization that strives for safe, decent and affordable housing across the state. During a forum held Monday, Sept. 19 at North House Folk School in Grand Marais, ...
  • Rescue Mission: Community Strategies emerge to preserve affordable housingRescue Mission: Community Strategies emerge to preserve affordable housing
    Donna Kimura, deputy editor of Affordable Housing Finance magazine, presents efforts from Portland, Oregon to Washington, D.C. to preserve naturally occurring affordable housing (NOAH). She includes a feature on GMHF’s NOAH Impact Fund. Rescue Mission: Community strategies emerge to preserve affordable housing By Donna Kimura The Bronaugh Apartments is one of the oldest rental housing developments in Portland, Ore. ...
  • Affordable housing is disappearing in the Twin Cities. Where do people go?Affordable housing is disappearing in the Twin Cities. Where do people go?
    KSTP produced a TV spot that aired on Channel 5 ABC News on August 19, 2016. Thousands of Minnesotans are being forced out of affordable housing by developers who are buying apartments and turning them into upscale units. Thursday night several stakeholders met to talk about how to help everyday Minnesotans who are forced to look ...
  • Join GMHF for a 20th anniversary receptionJoin GMHF for a 20th anniversary reception
    Join Greater Minnesota Housing Fund board and staff Thursday, October 27 at the Guthrie Theater in Minneapolis as GMHF reflects on 20 years of great ideas and collaborative partnerships. All are welcome! GMHF wouldn’t be here without the support of so many partners, funders, and friends of the organization like you. We hope you’ll join us to help GMHF ...
  • Roseau County Workforce Housing ProgramRoseau County Workforce Housing Program
    Both firms were expanding their workforces but there was inadequate housing available to accommodate the prospective employees, leading to new workers doubling up in hotel rooms and moving into homes designed for much smaller households. These pressures led to the formation of the Roseau County Workforce Housing Program and the new single-family and multi-family housing developments ...
  • Perham Employer Assisted HousingPerham Employer Assisted Housing
    The Perham Housing and Redevelopment Authority (HRA) leveraged several funding sources to create an employer-assisted downpayment pool. The city contributed $100,000, local employers will provide up to $55,000, and GMHF has promised to match all employer contributions. GMHF sets a funding maximum of $2,500 per homebuyer purchasing a home in Perham. KLN Industries, a local snack/ pet ...
  • Street E TownhomesStreet E Townhomes
    The City of Jackson has been reporting housing shortages as a major impediment to securing labor for their primary employer, AGCO, a multinational corporation with North American headquarters in Jackson. Over the past decade, the county has added nearly 2,000 residents and in 2013 AGCO announced a $42 million expansion. Several employees commute from South Dakota, ...
  • Marshall Parkway AdditionMarshall Parkway Addition
    As a regional center in southwest Minnesota, Marshall has experienced the benefits of economic growth and the challenges of an affordable housing shortage. The Parkway Addition project in Marshall, developed by Southwest Minnesota Housing Partnership, is a mixed-income neighborhood intended to help address those needs. To create affordable housing opportunities in the development, Schwan’s Inc. provided ...

 

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