NOAH in the Twin Cities gets financing boost from Freddie Mac

ImpactAlpha tracks the launch of the NOAH Impact Fund

Here’s an acronym to get behind: NOAH, for naturally occurring affordable housing.

Freddie Mac, the federal mortgage agency, is offering $100 million to finance first-time mortgages as part of a larger effort to preserve affordable housing in and around Minneapolis.

The NOAH Impact Fund, an equity fund launched last year by the non-profit Greater Minnesota Housing Fund, has raised $32.5 million to acquire 1,000 affordable units vulnerable to market-rate and high-end housing conversion. Of that, $25 million will be invested and $7.5 million will enhance credit for the fund’s private investors.

Among the investors: Bremer Bank, Sunrise Banks, Western Bank, the Minnesota Housing Finance Agency, the McKnight Foundation, and Otto Bremer Trust. The NOAH Impact Fund is anchored by Hennepin County, where Minneapolis is based.

See the story online at ImpactAlpha.

Colorful banner image featuring the skyline that you might typically see in a small city or town in Greater Minnesota.

About NOAH Impact Fund

NOAH Impact Fund is a subsidiary of Greater Minnesota Housing Fund.  
This program was established to enable the preservation of existing  
affordable housing for Minnesotans.  


Learn More


Greater Minnesota Housing Fund

GMHF is AERIS rated and a member of the  
Federal Home Loan Bank of Des Moines.


Staff Contacts

John Errigo
Director of Investing & Fund Manager

General Contact Info

NOAH Impact Fund
c/o Greater Minnesota Housing Fund
332 Minnesota Street
Suite 1650-West
Saint Paul, MN 55101