On September 26, MPHA joined Mayor Jacob Frey, Council Member Cameron Gordon, Minnesota Housing, Metropolitan Council, Hennepin County Government, U.S. Bank, Prospect Park Association and supporters for the groundbreaking of Aeon’s newest development, The Louis. Aeon, a nonprofit affordable housing developer, is building 70 new tax-credit, affordable homes in the Prospect Park neighborhood.
MPHA has committed 10 project-based vouchers to The Louis, making those apartments affordable to renters below 30% of area median income. The building is expected to be completed in 2019 and will have a special focus on serving single mothers and their children who were formerly homeless.
This project is a great example of what public-nonprofit-private partnerships can accomplish by combining Low-Income Housing Tax Credits with federal and local public investment. We look forward to seeing this project completed and more affordable housing made available to the community!