Greater Minnesota Housing Fund

We are filled with gratitude this week having joined Minnesota Indian Women's Resource Center for their incredible groundbreaking! Oshki-gakeyaa will open in 2025, providing 24 units with amenities and on-site services for community members who need and deserve support as they build brighter futures. Thank you to everyone from MIWRC who spoke, prayed, and welcomed us to their space to commemorate this important milestone for the organization and community. Before giving her remarks, Ruth Buffalo, MIWRC’s CEO, held space for community elders (who are also staff) to share words of encouragement, wisdom, and pride in the work that MIWRC is doing and how this project deepens their impact. We’re grateful for the partnership of MIWRC and to all the partners who are making this project possible! Thank you to the day’s speakers: Mayor Jacob Frey, Senator Mary Kunesh, Corey Strong, Tribal Liaison, Minnesota Housing, Commissioner Angela Conley, Hennepin County, Councilmember Jamal Osman, City of Minneapolis, Brett Edelson, CEO UnitedHealthcare of Minnesota, Shanise Faust, Cinnaire, and John Errigo, GMHF. We were also joined by volunteers from Native Voices United, an employee resource group at UnitedHealth Group founded to honor tribal nations across the country. And special shout out to PCL Construction and Landon Group LLC who were well represented as well! Read more on MPR with coverage from Chandra Colvin: ?https://lnkd.in/ghXGdzss

Register today! New Property Owner’s Seminar (December), from GMHF’s Emerging Developers of Color Program and Minnesota Multi Housing Association (MHA). Get ready for 2025 with this full day workshop on December 5th! Sign up here: https://www.mmha.com/GMHF Industry experts from MHF will provide information and training for owner-operators of multifamily properties. New property owners can learn practical tips and how to apply them as well as connecting with others in the industry. Fair housing essentials, property management in MN, budgeting and preventative maintenance are all topics that will be covered at this workshop. Registration is required. Cost of attendance is sponsored by GMHF and attendees will need to commit to attending the entire workshop. Join us this December. Register here (or share): https://www.mmha.com/GMHF

Shout out to our President & CEO Andrea Brennan who was recognized by Finance & Commerce as one of their Top Women in Finance for 2024! Check out the stories from Andrea and this year's honorees.

Congratulations, Minnesota Indian Women's Resource Center on your recent closing and upcoming groundbreaking! MIWRC will renovate their main building to offer 24 new apartments with amenities and access to services for residents. We will celebrate with MIWRC, community, supporters, and partners at a groundbreaking on November 20th. RSVP to join using this link: https://poply.com/r/wKvgm Minnesota Equity Fund, our tax credit syndicator and joint venture with Cinnaire, ensured this project could access low-income housing tax credits (LITHC) to provide permanent supportive housing to residents. UnitedHealth Group is the largest private sector investor in the project, providing an equity investment to make this project possible! Additionally, GMHF provided a predevelopment loan and construction loan for this project. Developed by MIWRC, their main building is an existing four-story, mixed-use space in South Minneapolis. The building’s first and second floors contain MIWRC's administrative and service spaces. The building’s third and fourth floors are residential spaces that will be rehabilitated, adding studio and 1-bedroom units. Unit amenities will include an electric range, central air conditioning, a refrigerator, controlled access, and carpet/composite flooring with other on-site amenities like bike racks/storage, laundry room, playground, a surface parking lot, and access to MIWRC’s services. PCL Construction is the builder, and DSGW Architecture is the architect for this project. Construction will be completed in 2025, and the building will open to new residents. Congratulations again, MIWRC! We are excited to celebrate this achievement with you! Learn more about the culturally rooted work that Minnesota Indian Women's Resource Center does every day: https://www.miwrc.org/

GMHF joined this housing forum to support practitioners in “putting the puzzle pieces together” for affordable housing development. Our staff presented about predevelopment lending (flexible funds that support projects from the starting line through construction) and multifamily lending (which can be used other funding sources to get projects done). We also presented on technical assistance that we offer for capacity building in Greater Minnesota. Simply put, we define “capacity building” as: ??? Time to do the work ??? Talent to know how to get it done, extra help ??? Tools unique to the situation ??? Treasure (resources) to accomplish the goal We can’t wait to connect with those we met in Baxter and at each of the recent housing forums. Thanks for inviting us, Minnesota Housing, let's do it again soon!

Congratulations, Greater Metropolitan Housing Corporation (GMHC) on your late summer loan closing! GMHF is providing single-family rehab and construction loans for upcoming developments. This financing will support the building of new and renovation of existing affordable single-family homes in GMHC’s current pipeline. These homes will be in the metro area (Minneapolis, Saint Paul, Eagan, Golden Valley). In addition to financing from GMHF, this current slate of developments includes gap funds from Minnesota Housing and the City of Minneapolis to help make and keep these homes affordable for households earning 80% or 115% AMI (area median income). Congratulations again, GMHC! Learn more about GMHC here: https://lnkd.in/gY6izMqi

This event has passed. Learn more about the State Housing Tax Credit Contribution program in the original post. ... #SignalBoost Minnesota Housing is holding a virtual information session for this program on Tuesday October 22. Register here to attend: https://lnkd.in/gaHqCDfD

We are elated to share that GMHF recently received a gift from MacKenzie Scott’s philanthropic organization, Yield Giving! GMHF was selected through the foundation’s ‘quiet research’ process, a testament to the incredible talent and dedication of GMHF staff and board. This gift comes at a pivotal time of planning for our organization. Thank you, Yield Giving! Read our update here: https://lnkd.in/ejtJNRtg

We are delighted to have received our 4th Bond Guarantee Program (BGP) award from CDFI Fund through OFN! These long-term, low-cost bonds enhance our lending capacity for affordable housing projects throughout Minnesota. This $25M award will allow GMHF to provide permanent loans to our borrowers – a critical tool in our mission to fund the creation and preservation of affordable housing. Thank you, CDFI Fund and OFN!

#Signalboost for this upcoming forum in the Brainerd Lakes Area! We can't wait to present and connect with everyone who'll be in attendance. Be sure to register and share: https://lnkd.in/gx683z-2