Ramsey Co, NOAH Impact Fund help Aeon buy/preserve 118 apartments

NOAH Impact Fund helps preserve affordability of The Provinces in New Brighton

From the Pioneer Press:

A Minneapolis-based nonprofit has bought 118 apartments in Little Canada in order to keep them affordable.

Aeon announced Friday that it had purchased The Provinces, an apartment complex west of Interstate 35E on Little Canada Road. The buildings, which are home to roughly 300 residents, were previously owned by Dominium.

To finance the acquisition, Aeon received financial assistance from the Greater Minnesota Housing Fund’s NOAH Impact Fund.

Affordability Preserved

All 118 apartments at The Provinces will be affordable to people at or below 60% of Area Median Income (AMI).

For the full story, go to the Pioneer Press.

Property

Download NOAH Brochure

For more background about the NOAH Impact Fund, please download the NOAH Impact Fund Brochure (PDF).

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About the NOAH Impact Fund

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

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Greater Minnesota Housing Fund

AERIS Rating 2+FHLB Des MoinesGMHF is AERIS rated and a member of The Federal Home Loan Bank of Des Moines.

 

Staff Contacts

Rachel Robinson
NOAH Impact Fund Manager
rrobinson@gmhf.com
651.221.1997 x114

Warren W. Hanson
President & CEO, GMHF, MEF & NOAH
whanson@gmhf.com
651.221.1997 x107

General Contact Info

NOAH Impact Fund
c/o Greater Minnesota Housing Fund
332 Minnesota Street
Suite 1201-East
Saint Paul, MN 55101