NOAH News

Preserving affordable housing is a hot topic. Here you'll find some of the latest news related to Naturally Occurring Affordable Housing, and the activities of the NOAH Impact Fund.

Real estate notebook: Star Tribune covers Aeon’s deal to preserve lower-cost apartments

A shortage of apartments and rising rents in the Twin Cities metro have made area apartment buildings a hot commodity among national investors who are often able to improve the buildings and increase rents. That is a threat to the already tight supply of rentals that are affordable to the lowest-wage families. And that is… Read more

Aff. Housing Finance: 768 Homes to Remain Affordable in the Twin Cities

Aeon has acquired 10 properties to preserve the affordability of 768 apartments in the Twin Cities region. The $77 million transaction marks the largest acquisition in the 31-year history of the nonprofit developer, owner, and manager of affordable homes. The purchase also represents the first project funded by Greater Minnesota Housing Fund’s (GMHF’s) recently formed… Read more

Nonprofit Aeon lands $77M apartment portfolio

Clare Kennedy reported on Aeon’s purchase of 10 older apartment buildings in Finance & Commerce’s Nov. 1, 2017 issue. In one $77 million mega-deal, nonprofit housing developer Aeon has purchased a portfolio of 10 older apartment buildings comprising 768 units. The Minneapolis-based affordable housing developer and owner closed Tuesday on the transaction. Six of the properties… Read more

More than 750 Apartment Homes in Twin Cities to Remain Affordable Thanks to Broad Partnership

FOR IMMEDIATE RELEASE (MINNEAPOLIS – October 31, 2017) Today Aeon, the NOAH Impact Fund of Greater Minnesota Housing Fund (GMHF), and Enterprise Community Investment, Inc. completed the purchase of 768 apartment homes across 10 properties in Bloomington, Brooklyn Center, New Hope, and St. Paul. Other key partners in the project include Bellwether Enterprise Real Estate Capital… Read more

NOAH Impact Fund makes initial investment

The NOAH Impact Fund thanks its investors for making this initial investment possible. Today – Oct. 31, 2017 – Aeon, the NOAH Impact Fund of Greater Minnesota Housing Fund (GMHF), and Enterprise Community Investment, Inc. completed the purchase of 768 apartment homes across 10 properties in Bloomington, Brooklyn Center, New Hope, and St. Paul. Other… Read more

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

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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.  

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Greater Minnesota Housing Fund

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

 
AERIS RATED AAA +2 FHLB Des Moines

Staff Contacts

John Errigo
Director of Investing & Fund Manager
jerrigo@gmhf.com
651-350-7224

Warren W. Hanson
President & CEO, GMHF, MEF & NOAH Impact Fund
whanson@gmhf.com
651-350-7220

General Contact Info

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