Publicly Owned Housing Program

Bayview Terrace, Two Harbors

  • Client: Greater Minnesota Housing Fund (GMHF) and the National Association of Housing and Redevelopment Officials (NAHRO), on behalf of 14 Housing Redevelopment Authorities/Public Housing Authorities (HRA/PHAs)
  • Landon Group Role: Secure financing, coordinate underwriting & closing
  • Project Cost: From $67,000 to $1.1 million
  • Financing: Minnesota Housing Infrastructure Bonds (GO Bonds); Owner Capital
  • Project Size: From 17 to 58 units

In 2014, the Minnesota Legislature provided $20  million in General Obligation Bonds to Minnesota Housing to be awarded to HRA/PHAs to address critical physical needs in existing public housing. GMHF and NAHRO hired Landon Group to provide technical assistance to Public Housing Authorities in preparing competitive funding applications.

Landon Group assisted 14 HRA/PHAs with application submission to Minnesota Housing. 11 of those 14 projects were funded, out of 46 total applicants.

Landon Group further assisted three HRAs – Two Harbors, Greenbush, and Renville County – with closing the loans in completing their rehab projects.  These agencies provide critically needed housing to very low income individuals and households in their communities.

Pictured above: Bayview Terrace, Two Harbors, MN