Two Rochester Affordable Housing Projects Awarded State Funding
St. Paul, MN (KROC-AM News) - Two planned developments in Rochester are on a list of projects throughout Minnesota that will share in $254 million in state funding.
The Minnesota Housing Finance Agency today announced the list of projects which will preserve or create over 2600 affordable housing units, which will include rentals and single-family homes. State officials say the funding will leverage over $572 million in private and local investments and create over 5000 jobs.
In Rochester, Joseph Development has been awarded $7.3 million to help finance the construction of the 76-unit Century Heights project. State officials say it will provide affordable housing for households with incomes between about $42,200 and 58,500. The project will also include units for 8 homeless households and for households with disabilities.
Center City Housing has been awarded just over $8 million in state funding for the 30-unit Mayowood Apartments project. The plans call 1 bedroom rentals with 25 units for homeless individuals and 5 units for people with disabilities with incomes up to a limit of about $42,200 limit.
It’s estimated that nearly a half-million households in Minnesota spend over 30-percent of their income on housing.
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