Gateway Development District
- The City of Bloomington was awarded an allocation of $27 million in Housing Revenue Bonds today to support the development of 165 additional affordable housing units at 1950 East 86th Street in the South Loop district. The funds will assist affordable housing developer Aeon in constructing the new infill development on the site of the recently acquired Village Club Apartments.
- At the December 16 Council meeting, the City launched a $15 million Affordable Housing Trust Fund and approved $7 million for nonprofit affordable housing developer Aeon to purchase Village Club Apartments. This move will preserve 306 units of naturally occurring affordable housing (NOAH) in Bloomington, which are residential rental properties that are affordable without government subsidized rents.
- The Builder’s Association of the Twin Cities - Housing First Minnesota Foundation, Lennar and Minnesota Assistance Council for Veterans Break Ground October 21