Above: A map of the projects. Blue and purple indicate new construction.
Minneapolis is poised to commit more than $8.8 million this year from it's affordable housing fund to build and preserve low-income housing throughout the city.
A city panel gave initial approval Tuesday to funding eleven projects, which are scattered near downtown, south Minneapolis and Near North. The money -- a mix of city and federal funds that the city allocates annually -- will help construct 371 new housing units and rehab another 543.
"We are seeing in the city, more so than I've ever seen before, private buildings moving to market-rate," said council member Lisa Goodman, who chairs the community development committee, explaining the need for the rehabilitation of existing affordable units.
"It's just more beneficial for developers -- even if they are non-profits -- to turn around and sell out early and then move those units into market rate," Goodman said. "We don't want to see that happen."
The largest award, $1,861,000, will aid the rehab of 200 housing units at Ebenezer Park Apartments, a 1980 high-rise on Park Avenue that provides low-income senior housing.
Above: A rendering of Great River Landing, a proposed 72-unit affordable housing project near 5th Street North and 8th Avenue in the North Loop (via Beacon Interfaith Collaborative).
A full list of the projects is available here. Several new construction projects include:
