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
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
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
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
From a June 22, 2017 editorial in the Pioneer Press. Not all affordable housing is government-supported or subsidized. Across the nation and in the Twin Cities, there’s also so-called “naturally occurring” affordable housing — by acronym, NOAH. Much of it includes modest but good-quality apartment complexes built between the World War II era and the 1980s… Read more
For more background about the NOAH Impact Fund, please download the NOAH Impact Fund Brochure (PDF).
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.
GMHF is AERIS rated and a member of the
Federal Home Loan Bank of Des Moines.
NOAH Impact Fund
c/o Greater Minnesota Housing Fund
332 Minnesota Street
Suite 1650-West
Saint Paul, MN 55101
