We’re proud to invest in the future of Clare Apartments!
The property, owned and operated by Clare Housing, is a 32-unit permanent supportive housing community in Minneapolis that provides safe, stable homes and vital services for people living with HIV/AIDS.
Through our Minnesota Equity Fund, we provided an $8.6M equity investment, and the GMHF lending team closed on a $4.3M construction loan to support a substantial rehabilitation of the building.
Improvements will include new elevators, boilers, and water heaters; updated flooring and fixtures in resident units; roof, siding, masonry, and window repairs; and upgrades to the parking lot and exterior safety features.
The rehab will extend the building’s life for 20+ years and ensure affordability for residents earning 30 percent AMI with project-based Section 8 vouchers for years to come.
Clare Apartments is more than housing — it’s a foundation for better health outcomes and long-term stability for people living with HIV/AIDS.
Beltrami County: A Critical Need for All Types of Housing Units