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Minnesota Housing awards funding for two affordable housing projects in Rochester

November 23, 2019 Public Report On 2016-2020 Housing Framework


 

Minnesota Housing awards funding for two affordable housing projects in Rochester

 

MedCity Beat Reporting

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Minnesota’s housing finance agency has awarded more than $25 million in funding to a pair of affordable housing projects in Rochester.

Support for the two projects, which together include 106 units of affordable and workforce housing, was announced Thursday as part of a $254 million package benefiting 74 housing projects across the state.

The funding selections represent the largest round of overall investments that Minnesota Housing has ever helped finance, with $572 million in housing developments set to benefit from the package.

The investments come as Minnesota continues to face a significant housing shortage, particularly for low- to moderate- income residents. According to figures from the state, nearly half a million households in Minnesota spend more than 30 percent of their income on housing.

“This investment means more Minnesota families will be able to live in a home they can afford in a community of their choice, and more businesses will be able to attract and retain the employees they need to thrive,” said Gov. Tim Walz. “While this funding puts us on the right path forward, we still have work to do. I look forward to our continued conversation on how to provide housing options that meet the full spectrum of needs of Minnesota’s growing population.

The two local projects selected are Century Heights, a 76-unit project from Rochester-based Joseph Development, and Mayowood Apartments, a 30-unit development from Center City Housing Corporation.

Century Heights will be located on the west side of East Circle Road Northeast, just east of Viola Road Northeast (behind the fire station).

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Century Heights will be located on the west side of East Circle Road Northeast, just east of Viola Road Northeast (behind the fire station).

Graphic courtesy Minnesota Housing

Mayowood Apartments will be built on county-owned land at 1025 Mayowood Road, south of the Waters on Mayowood development.

Graphic courtesy Minnesota Housing


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November 23, 2019 Public Report On 2016-2020 Housing Framework

 


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Admin Info

DMC Impact(s): Livable City

PlanScape(s): Aging ; Business Process ; Housing

Community Health Impact(s): Financial Stress/Homelessness

Date: 2019/11/23

Last Modification Date: 2016-10-10T21:14:49-05:00

Last Modified by: support

Source: MedCity Beat

Type: Status

Sort Order: 1

State: Public

Location: Read more ...

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