News

Articles and Press by and about Greater Minnesota Housing Fund

  • Hennepin County commits to preserving ‘naturally occurring’ affordable housingHennepin County commits to preserving 'naturally occurring' affordable housing
    Hennepin County became the first government in the region Tuesday to pitch in on a new effort to help preserve what is termed “naturally occurring” affordable housing in the metro area. The county’s $3 million will be combined with money from other sources, including foundations and banks, to build a $25 million fund led by the ...
  • Hennepin County to help preserve affordable homes for residents.Hennepin County to help preserve affordable homes for residents.
    The county’s investment is part of a $25 million metro-area initiative by the Greater Minnesota Housing Fund, to acquire these units to keep them affordable. The program will target rental properties that are at risk of being converted to higher rents, and where low- and moderate-income residents are at risk of being displaced. See the ...
  • Housing needs urgent funding from special session, say Minnesota mayors, council member, and GMHFHousing needs urgent funding from special session, say Minnesota mayors, council member, and GMHF
    That was the prevailing theme of this year’s legislative session from Gov. Mark Dayton and both Democratic and Republican leaders. Yet, despite bipartisan consensus around the need to invest in systems that enhance our state’s economic prosperity, legislators failed to act on a tremendous opportunity to boost job growth and enhance community stability by increasing ...
  • Our view: We need broader housing discussionOur view: We need broader housing discussion
    As John Errigo of the Greater Minnesota Housing Fund reviewed findings from a recent study conducted by the former Cornerstone Partnership, he noted discussions with developers indicated support for inclusionary housing policies. Such policies would create more clarity, reduce time for gaining approvals and level the playing field for projects. However, it raised a question about ...
  • Uncertainty as city, county seek affordable housingUncertainty as city, county seek affordable housing
    Creating an inclusionary housing policy could help the city of Rochester and Olmsted County encourage affordable housing development in the region, but both local government bodies are hesitant to move forward before further studying the effects of such a policy. The Rochester City Council, Olmsted County Board of Commissioners, staffs of each agency and outside experts ...
  • Report: Majority of Olmsted County Renters Cannot Afford Market RateReport: Majority of Olmsted County Renters Cannot Afford Market Rate
    Affordable housing was the focus of a discussion Monday night in a joint meeting between the Olmsted County Board of Commissioners and Rochester City Council. At the Committee of the Whole meeting in April, officials said they are looking into ordinance changes to give developers incentives to include affordable housing units. The need for affordable housing ...
  • Next in Nonprofits interview with Warren HansonNext in Nonprofits interview with Warren Hanson
    The Minnesota Equity Fund “is a new social enterprise designed to raise equity capital from Minnesota corporations and banks to invest in well designed, high quality, sustainable affordable housing developments throughout Minnesota.” The fund is a subsidiary social enterprise of the Greater Minnesota Housing Fund. Warren Hanson, President and CEO of the Greater Minnesota Housing Fund, ...
  • St. Peter economic development agency recommends $500,000 fund for housesSt. Peter economic development agency recommends $500,000 fund for houses
    The new fund would use money accrued through interest on the revolving loan fund. Beginning in August, the money would be available for building homes in the recently approved workforce housing subdivision for four years. Afterward, the full amount would be repaid to the revolving loan fund. At the EDA meeting on April 28, city officials emphasized ...
  • Spring Valley EDA ready to welcome new memberSpring Valley EDA ready to welcome new member
    Three Spring Valley Economic Development Authority (EDA) members toured the KC Fit apartments, which are located above Workout 24/7. The owners utilized the Small Cities Development (SCDP) grant fund and Greater Minnesota Housing Fund (GMHF). During their May meeting members will once again tour the these apartments, as well as the apartments above Minnesota Joe’s, which are ...
  • Twin Cities Habitat plans $90M mortgage loan fundTwin Cities Habitat plans $90M mortgage loan fund
    Last year, Twin Cities Habitat helped 44 families achieve homeownership. Twin Cities Habitat is working with financial partners on the mortgage pool that would result in below-market rate mortgages for a larger group of families with incomes of $28,000 to $68,000. The financial partners, which include financial institutions, corporations, foundations and affluent families, would get an ...
  • Our View: Policy can answer housing crisisOur View: Policy can answer housing crisis
    With more than $14.7 million in tax-increment financing provided for the construction of affordable housing in the city since 1999, efforts have been ongoing for decades. “We’ve been doing housing projects back to the mid-80s,” Rochester Assistant City Administrator Gary Neumann told the city council this week. In addition to TIF funding for single-family homes and housing ...
  • City seeks inclusionary housing policyCity seeks inclusionary housing policy
    The Rochester City Council on Monday met with affordable housing leaders from the city and Olmsted County to craft a plan for continued action in addressing a growing housing crisis. The city has invested in affordable housing in the past — including $14.7 million in tax increment financing to affordable housing projects since 1999 — but ...
  • Matthew Desmond explores the many disruptions that flow from a tenant’s eviction.Matthew Desmond explores the many disruptions that flow from a tenant's eviction.
    Evictions not only put poor families out on the streets, but simultaneously set off a cascade of consequences for both the people and neighborhoods affected. In his new book, “Evicted: Poverty And Profit In The American City,” University of Wisconsin-Madison graduate and Harvard University sociology professor Matthew Desmond examines how this process plays out for ...
  • Mixed-use community hub, Commons at Penn, celebrates grand opening of apartments, future co-opMixed-use community hub, Commons at Penn, celebrates grand opening of apartments, future co-op
    Minneapolis developer Building Blocks, Inc. and its many project funders are pleased to announce the grand opening of Commons at Penn, a new construction, 47-unit, mixed-use, transit-oriented development in the heart of the Willard-Hay neighborhood in Minneapolis. The new residential community, located at the intersection of Penn Avenue and Golden Valley Road, provides attractive new affordable ...
  • The year ahead: St. Peter moves forward on more housing plans, considers developmentThe year ahead: St. Peter moves forward on more housing plans, considers development
    City officials had previously endorsed plans to move ahead on the community’s third major housing subdivision, targeting both mixed use and mixed income homes. This local effort to construct more affordable, “workforce housing” in St. Peter has driven two past projects – Nicollet Meadows and Washington Terrace. But as St. Peter City Administrator Todd Prafke has indicated ...
  • Report: Innovative Approaches Emerging for Preserving Affordable and Workforce HousingReport: Innovative Approaches Emerging for Preserving Affordable and Workforce Housing
    At a time when the nation is facing an affordability crisis, a growing number of financing vehicles are balancing profit and social good to help owners and developers acquire and preserve needed housing, according to a new report by the ULI Terwilliger Center for Housing and NeighborWorks America. The Preserving Multifamily Workforce and Affordable Housing: New ...
  • Red Wing Housing Dialogue addresses housing woesRed Wing Housing Dialogue addresses housing woes
    Community leaders met with representatives from state housing agencies Thursday to begin tackling the lack of affordable and workforce housing in the city. “Right now housing is in critical supply in Red Wing,” said Randal Hemmerlin, Housing and Redevelopment Authority executive director, at the roundtable meeting held in the Ignite Building. The city has virtually no subsidized ...
  • Key housing organizations take coordinated approach to preserving rural Minnesota’s affordable rentalsKey housing organizations take coordinated approach to preserving rural Minnesota's affordable rentals
    The first time Skip Duchesneau got a phone call from the owner of the Prairie Rose Apartments, in 2008, he declined the man’s offer to sell him the 16-unit complex in Red Lake Falls, Minn. Duchesneau, the president of property development and management firm D.W. Jones, Inc., had visited the property before and concluded that ...
  • Study: Multifamily Full Service Benchmarking Can Lead to Energy and Water SavingsStudy: Multifamily Full Service Benchmarking Can Lead to Energy and Water Savings
    New York City-based energy management provider, Bright Power, released the findings from a 2-year pilot program, EnergyScoreCards Minnesota, to test the feasibility and impact of energy and water benchmarking in over 550 multifamily buildings across the state. The findings show that not only is statewide benchmarking feasible, the act of benchmarking can lead to significant ...
  • Help wanted for workforce housingHelp wanted for workforce housing
    Newport Laboratories belongs to a new breed of employer in Worthington, a city of 13,000 in southwestern Minnesota known primarily for pork processing. Newport, a locally founded firm that was acquired in 2012 by a French animal health care firm, performs diagnostic testing and manufactures veterinary vaccines. The company, one of several animal health firms in ...

 

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