Story of Impact from Minnesota’s Housing Scorecard, Feb. 2020:
Housing Goal Two – Preserve the Homes We Have
A new focus on preservation has saved more than 2,300 units of NOAH in the last four years alone and progress is accelerating. Nonprofit partners, including Greater Minnesota Housing Fund, Aeon, CommonBond Communities, Real Estate Equities, and Hempel Companies have invested in making sure the most affordable market-rate housing remains on the market. Sunrise Banks and Aeon established a new $18 million proprietary fund, and Greater Minnesota Housing Fund will launch its second NOAH Impact Fund with an additional $25 million from banks, foundations, and government to preserve more rental homes. There are over 1,200 NOAH apartments in the upcoming acquisition and preservation pipeline.
Key Learnings
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Additional Information
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Website:
For more information about this Story of Impact contact:
Judy Johnson, Project Director, Prosperity’s Front Door, judy@frontdoorcampaign.org
