Real Estate Equities, Greater Minnesota Housing Fund, and Merchants Capital have teamed up to create Technology Park, a 164-unit housing complex in Rochester, Minnesota. The apartments will provide naturally affordable rental housing to Rochester’s workforce without subsidy. Technology Park, to be renamed upon the building’s opening, will help ease Rochester’s affordable housing crisis. Rochester was…
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The 2016-2020 Housing Framework is the result of a multi-year, community-based planning process jointly led by Olmsted County and Rochester Area Foundation. These and other community partners are already taking steps to address the area’s affordable housing shortage. The 2016-2020 Housing Framework presents “high,” “medium,” and “low” goal options for accelerating affordable housing production in…
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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…
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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…
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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…
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