Hennepin County

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Hot market for buyers is driving loss of affordable rentals in Twin Cities

From a Star Tribune news story by Eric Roper. It seems not a week goes by lately without news about low-income tenants forced to move when their landlord sells their apartment building to investors. A new report offers numbers behind those anecdotes, illustrating a major shift in the local rental market. In “Sold Out,” released… Read more

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Rescue Mission: Community strategies emerge to preserve affordable housing

Donna Kimura, deputy editor of Affordable Housing Finance magazine, presents efforts from Portland, Oregon to Washington, D.C. to preserve naturally occurring affordable housing (NOAH). She includes a feature on GMHF’s NOAH Impact Fund. Rescue Mission: Community strategies emerge to preserve affordable housing By Donna Kimura 9/12/16 The Bronaugh Apartments is one of the oldest rental housing… Read more

Housing fund looks to prevent displacement, gentrification

With the help of a $3 million contribution from Hennepin County, a $25 million fund is being assembled to purchase properties at risk of being purchased, renovated and gentrified. A metro rental market experiencing a vacancy rate under 3 percent has made certain apartment complexes attractive to developers looking to leverage that demand. Examples of… Read more

Fountain Terrace

New effort aims to save affordable housing in Hennepin County, metro area

A familiar scenario is increasingly playing out across the Twin Cities: Affordable housing being revamped into higher-end rentals with everything from dog spas to granite countertops, forcing out lower-income residents. Now a new funding initiative, the first of its kind in Minnesota, is being created to help reverse that trend. This week, Hennepin County approved… Read more

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How Hennepin County is preserving affordable housing

Greater Minnesota Housing Fund was granted $3 million Tuesday from the Hennepin County Board of Commissioners they will use to continue to build a $25 million fund to help keep people housed. The preservation effort is particularly mindful of those on section 8 or rent subsidy vouchers like Merche Banks, a single mother from Richfield, Minn… Read more

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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

John Errigo
Acting NOAH Impact Fund Manager
jerrigo@gmhf.com
651.350-7224

Warren W. Hanson
President & CEO, GMHF, MEF & NOAH
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