State Grant Bringing New Affordable Housing To Crystal

State Grant Bringing New Affordable Housing To Crystal

Minnesota Housing announced a $191 million investment toward homes across the state.

At a St. Louis Park news conference on Friday, Dec. 20, Minnesota Housing Commissioner Jennifer Ho said the money will support nearly 2,300 homes.

Just under half of the funding goes to existing affordable properties, and the rest will go towards new construction. That includes single family homes, affordable apartments and manufactured home communities.

“When we say we’re investing in housing finance, that means we’re investing in the places where kids grow up,” Ho said.

Crystal is one city that will get a boost from the grant.

The funds will help build a 44-unit property, which will be co-developed by Woda Cooper Companies and Project for Pride in Living.

It will be located off Bottineau Boulevard and Bass Lake Road. Units will cost between 30-80 percent of the area’s median income.

Woda Cooper Companies is based out of Ohio, and develops affordable properties.

According to its website, the company doesn’t have properties in Minnesota yet.

Parker Zee, who works with the company, said this funding is an exciting opportunity.

“In order to be able to provide these below market-rate rents, and be sure we are serving households in need, the state money is absolutely crucial,” Zee said.

Zee said construction should start later in 2025.

To view all of the 2024 Minnesota project selections, you can view the Minnesota Housing website.

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SOURCE: CCX MEDIA