Greater Minnesota Housing Fund

GMHF joined this housing forum to support practitioners in “putting the puzzle pieces together” for affordable housing development. Our staff presented about predevelopment lending (flexible funds that support projects from the starting line through construction) and multifamily lending (which can be used other funding sources to get projects done). We also presented on technical assistance that we offer for capacity building in Greater Minnesota. Simply put, we define “capacity building” as:   • Time to do the work   • Talent to know how to get it done, extra help   • Tools unique to the situation   • Treasure (resources) to accomplish the goal We can’t wait to connect with those we met in Baxter and at each of the recent housing forums. Thanks for inviting us, Minnesota Housing, let's do it again soon!

Congratulations, Greater Metropolitan Housing Corporation (GMHC) on your late summer loan closing! GMHF is providing single-family rehab and construction loans for upcoming developments. This financing will support the building of new and renovation of existing affordable single-family homes in GMHC’s current pipeline. These homes will be in the metro area (Minneapolis, Saint Paul, Eagan, Golden Valley). In addition to financing from GMHF, this current slate of developments includes gap funds from Minnesota Housing and the City of Minneapolis to help make and keep these homes affordable for households earning 80% or 115% AMI (area median income). Congratulations again, GMHC! Learn more about GMHC here: https://lnkd.in/gY6izMqi

This event has passed. Learn more about the State Housing Tax Credit Contribution program in the original post. ... #SignalBoost Minnesota Housing is holding a virtual information session for this program on Tuesday October 22. Register here to attend: https://lnkd.in/gaHqCDfD

We are elated to share that GMHF recently received a gift from MacKenzie Scott’s philanthropic organization, Yield Giving! GMHF was selected through the foundation’s ‘quiet research’ process, a testament to the incredible talent and dedication of GMHF staff and board. This gift comes at a pivotal time of planning for our organization. Thank you, Yield Giving! Read our update here: https://lnkd.in/ejtJNRtg

We are delighted to have received our 4th Bond Guarantee Program (BGP) award from CDFI Fund through OFN! These long-term, low-cost bonds enhance our lending capacity for affordable housing projects throughout Minnesota. This $25M award will allow GMHF to provide permanent loans to our borrowers – a critical tool in our mission to fund the creation and preservation of affordable housing. Thank you, CDFI Fund and OFN!

#Signalboost for this upcoming forum in the Brainerd Lakes Area! We can't wait to present and connect with everyone who'll be in attendance. Be sure to register and share: https://lnkd.in/gx683z-2

Earlier this fall, Healthcare for Housing Minnesota partners met in Duluth for a special tour of the Essentia Health campus in downtown Duluth. Essentia is investing in 3 different housing developments, including considering land use and proposed development opportunities on multiple parcels of vacant land owned by the company. Community partners like One Roof Community Housing, the City of Duluth, and the Reimagining Downtown Project presented throughout the day to provide Healthcare for Housing partners inspiration in pursuing affordable housing solutions to address social determinants of health. Healthcare for Housing participants included Essentia Health, U of M Fairview Health Services, Blue Cross and Blue Shield of Minnesota, CentraCare, Sanford Health, Allina Health, Children's Minnesota, and UCare, among other greater Minnesota affiliated partners. Healthcare for Housing Minnesota will meet again in November. Thank you to everyone who attended we look forward to convening again soon! … About HFHMN: Healthcare for Housing is a coalition that convenes healthcare institutions to advance housing stability as the most critical social determinant of health to achieve health equity. Healthcare for Housing does this through policy and systems work, shared investment and programs, and promoting shared learning to create innovative housing solutions. Learn more: https://lnkd.in/eyCcghv9

Thank you to The Preservation Compact and to all the panelists and moderators we shared the stage with! While GMHF supports the creation of new affordable housing developments through our lending, equity, and programs, supporting NOAH preservation is a huge part of our work and mission. Preservation of NOAH (naturally occurring affordable housing) units supports stable communities by keeping affordable homes affordable.

Congratulations One Roof Community Housing on your recent loan closing with GMHF for Birchwood Apartments in Grand Marais. GMHF is providing a predevelopment loan for this project. Birchwood Apartments is an existing 24-unit USDA Rural Development (RD) property in northern Minnesota. Residents of the apartment building have been facing massive issues with livability as the building has fallen into disrepair. Rather than tear down the building, potentially displacing residents, One Roof will work to get the existing building back to a livable condition for the Minnesotans who live there. One Roof will work with Frerichs Construction to complete the rehab, and construction is expected to start later in 2024. Predevelopment loans cover costs to find out what will help get an important project like this one to completion. RD properties offer deep affordability for individuals and families under 30% AMI (area median income), with 100% of Birchwood’s units currently receiving some form rental assistance. Making sure these homes are in good condition is a priority of this project and One Roof’s mission! Congratulations One Roof Community Housing, on this loan closing and the future success of this ‘occupied rehab’ project for the Minnesotans who call Birchwood Apartments their home! Learn more about this project (via WTIP North Shore Community Radio): https://lnkd.in/gX9s74TG Learn more about One Roof: https://1roofhousing.org/

#SignalBoost for this upcoming event in NE MN with Minnesota Housing Partnership! We look forward to connecting with attendees and supporting this capstone event from the Emerging Developers Institute cohort at MHP! Learn more and register here: https://lnkd.in/gZ-vZc8a