Welcome to our dedicated coverage on the dynamic real estate landscape in Minnesota. Today, we delve into a range of pressing issues affecting the housing market—from the significant squeeze on many Minnesotans due to escalating housing costs, to groundbreaking investments by Standard Communities aimed at bolstering affordable senior housing. We also explore the latest legislative efforts to enhance tenant rights and take a closer look at why Minnesota is a leading state for senior cooperative living. Each story offers unique insights into the challenges and opportunities within Minnesota’s housing sector, highlighting innovative solutions and ongoing efforts to make housing more accessible and equitable. Dive deeper into each topic to understand how these developments could impact you and your community.
Report: Many Minnesotans squeezed by housing costs
Discover the latest report highlighting the challenges faced by many Minnesotans due to rising housing costs. The report reveals that median rent has increased by 8% in just one year, putting a strain on families’ budgets. With 50% of renters paying more for housing than they can afford, tough choices have to be made. Explore the regional disparities and the need for more affordable housing solutions. Find out how the $2 billion in housing aid approved by state lawmakers aims to address these issues and what further reforms are needed.
Standard Communities Makes First Investment in Minnesota with Rivertown Commons Senior Housing
Discover the exciting news about Standard Communities’ first investment in Minnesota. The leading national multifamily housing investor and developer has acquired Rivertown Commons, a 96-unit affordable community for seniors and individuals with disabilities in Stillwater. With a capitalization of $27.8 million, this partnership with the Washington County Community Development Agency and the Minnesota Housing Finance Agency aims to address the pressing need for affordable housing in the state. Learn more about Standard’s commitment to preserving and extending the affordability of Rivertown Commons, including a planned renovation, the addition of a solar panel system, and the implementation of comprehensive resident services.
Standard Communities Makes First Investment in Minnesota – Connect CRE
Stay informed with the latest commercial real estate stories by signing up for Connect emails. In exciting news, Standard Communities, a national multifamily housing investor and developer, has made its first investment in Minnesota by acquiring Rivertown Commons. This 96-unit affordable community for seniors and individuals with disabilities in Stillwater is capitalized at $27.8 million. The acquisition was completed in partnership with the Washington County Community Development Agency and the Minnesota Housing Finance Agency. With a strong demand for senior affordable housing in Washington County, this transaction showcases the importance of public-private partnerships in addressing the affordable housing crisis. Discover more about Standard Communities’ plans for renovation and their commitment to seeking additional investments in Minnesota.
Minnesota Legislature passes many tenant-friendly provisions
Stay updated on the latest politics and policy shaping Minnesota by signing up for email updates. The 2024 session of the Minnesota Legislature focused on fine-tuning and implementing tenant-friendly provisions following the substantial changes made in 2023. These changes include clarifications, adjustments, and consolidations to ensure that housing laws are specific and fair for both tenants and landlords. The list of changes includes regulations on eviction records, repairs, fees, and more. While some provisions were not adopted, there is hope for their reintroduction in the future. Discover the impact of these tenant-friendly provisions and how they contribute to a more regulated and fair housing arena.
Minnesota is home to more than half of senior co-op living in the country. Here’s why | MPR News
Discover why Minnesota has become a hub for senior housing co-operatives, offering an appealing option for middle-income individuals who are aging but don’t require constant nursing home care. With Minnesota hosting 60% of senior co-ops nationwide, Dennis Johnson, president of Cooperative Housing Resources, shares the origin and evolution of this innovative housing concept. Listen to the full conversation to learn more about the benefits and features of senior co-op living in Minnesota.