Throughout December, the Minneapolis Neighborhood News (MNN)
cable television program will present part one of a two-part series focusing on the progress of the first projects funded through the NRP Affordable Housing Reserve Fund
. The fund was established by the NRP Policy Board to demonstrate the program's commitment to providing long-term affordable housing for individuals and families that earn less than half of the Metro Median Income. Last
year, nearly $4 million from the fund was invested in seven projects
that will create or renovate 195 units of affordable housing. Combined, the projects will leverage an additional $33 million in private and public financing and will include the production of another 104 market-rate units.
Deidre Schmidt of the Brighton Development
Corporation gives future Lofts on Arts Avenue
resident John Fiorello a tour of his soon-to-be home.
Part one of the NRP affordable housing series will feature a groundbreaking celebration for the 28-unit East Phillips Commons near Lake Street and Bloomington Avenue South, the 36-unit Lofts on Arts Avenue project in the Stevens Square neighborhood and the grand opening of a 21-unit expansion to the Jeremiah Program's residential facility in the Loring Park neighborhood. Tune in and listen to future Lofts on Arts Avenue resident John Fiorella describe his excitement at finding an affordable ownership opportunity so close to downtown. Minneapolis Neighborhood News can be seen in Minneapolis on channel 16 on Sundays at 5 p.m., on channel 17 on Fridays at 6:30 p.m. and on channel 14 on Sundays at 4:30 p.m., Mondays at 5:30 p.m., and Tuesdays at 9:30 a.m. A segment of the show is now available for online viewing on the NRP Web site. Follow this link to view a segment on Lofts on Arts Avenue