Minnesota Housing invests $4.4M in Greater MN market-rate projects

Minnesota Housing announced more than $4.5 million in workforce housing investment in Greater Minnesota.

The funding, according to a Thursday, Oct. 1, news release, will help create 77 new rental homes in six communities, three of which are in Northern Minnesota.

“Housing is an important part of keeping communities strong and helping local economies grow, whether a community has 1,000 residents or 100,000,” stated Minnesota Housing Commissioner Jennifer Ho. “These investments help Greater Minnesota communities create the homes they need for people who work at local businesses, schools, health care facilities and other employers.”

Bemidji's Mountain View Meadows project is receiving $425,000 for six new rental homes. The project also received funding in 2024 for six units.

A housing project in Fosston is receiving $250,000 for the development of four rentals. Fosston received a separate small cities housing grant in April.

Silver Bay is receiving $750,000 for the development of 25 units.

“Lake County has been working with the City of Silver Bay and the Iron Range Resources & Rehabilitation Board over the last four years to build workforce housing along Minnesota's North Shore,” stated Matthew Johnson, Lake County Housing and Redevelopment Authority director.

“The Minnesota Workforce Housing Grant has closed the funding gap to make Silverpointe II Apartments become a reality. The 25 market rate units will bring much needed housing relief to employers large and small throughout the region."

The Workforce Housing Development Program helps small and midsize communities develop market-rate rental housing where there is job growth, low rental vacancy and demand for workforce housing.

Projects must be in communities with a rental vacancy rate of 5% or less for the past previous two years and secure matching funds.

A full list of recipients is available at the Minnesota Housing website.