The NRP Policy Board continued to fulfill its commitment to helping address the city's affordable housing needs on December 15 by awarding nearly $2.4 million to 10 projects that will create or renovate 344 units of affordable housing and 102 market rate units. The 10 projects will leverage more than $76 million in additional private and public financing.
The projects will receive funding from NRP's Affordable Housing Reserve Fund (AHRF). The AHRF was established in July 2000 as part of NRP's continuing commitment to providing long-term affordable housing for individuals and families that earn less than half of the Metro Median Income (MMI). This means that the 344 units of housing receiving AHRF funding would be available (for example) to families of three with annual incomes of less than $34,500, families of four with annual incomes of $38,350 or less, or families of six earning less than $44,500 annually.
Perhaps the most striking aspect of the projects that received NRP funding is that 285 of the housing units will be for families that annually earn less than 30 percent of the MMI or $20,700 or less for a family of three, $23,010 or less for a family of four, or $26,700 or less for a family of six.
On December 15, the NRP Policy Board also made up to $3,297,770 available for a third and final round of affordable housing projects. The projects will be solicited through an AHRF Request for Proposals that will be issued in May 2004. All of the proposals must be reviewed and sponsored by the NRP neighborhood organization for the area where the proposed project will occur. Last year, the board invested nearly $4 million in seven projects that created or renovated 195 units of affordable housing and 104 market rate units and leveraged $33 million in other private and public financing.
A description of each of the approved projects follows:
- Cecil E. Newman Plaza - $188,000 approved to renovate 64 units of scattered-site Section 8 housing built in the 1960s in the Near North neighborhood.
- Kingfield Public Housing Duplex - $10,000 approved for construction of a handicap accessible public housing duplex in the Kingfield neighborhood.
- Hiawatha Commons - $500,000 approved for construction of an 80-unit mixed-use/mixed-income, transit-oriented housing development in the Longfellow neighborhood.
- Heritage Park Phase III - $189,000 approved for construction of 95 units of rental housing (47 of the units will be affordable to households at or below 50 percent of the Metro Median Income).
- Habitat Homes at Heritage Park - $539,500 approved for construction of 26 units of affordable owner-occupied housing in the new Heritage Park development.
- Little Earth Property Improvement - $285,000 approved for construction of a three-story, 16-unit senior housing development and rehabilitation of 52 units of Section 8 housing in the Little Earth housing complex in the East Phillips neighborhood.
- St. Anne's Senior Housing - $350,000 approved for construction of 66 units of senior rental housing in the Jordan neighborhood.
- Lutheran Social Services Housing Opportunities Project - $100,000 approved to rehabilitate 12-units of supportive housing in the Phillips West neighborhood. All residents in these units will be receiving Section 8 assistance.
- Agape Child Development Center - $100,000 approved for construction of 12-units of affordable housing that is part of the mixed-use, transit oriented AGAPE Child Development Center, which provides 24-hour child care to up to 190 students. Located in the Jordan neighborhood.
- New Village Limited Partnership Project - $100,000 approved to rehabilitate and renovate 21 units of affordable rental housing in the Phillips West neighborhood.
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