In a recent social media post by Jason Chavez, the Minneapolis City Council member for Ward 9, it was announced that the city is directing $1 million from the 2025 adopted city budget toward the preservation of affordable housing. This investment is part of a one-time initiative, the Minneapolis Affordable Rental Stabilization (MARS), which aims to support nonprofit housing owners in their efforts to maintain existing affordable units. Chavez cites the importance of this investment in combating the issue of unsheltered homelessness and sustaining the city's affordable housing stock.
The allocated funds are set to aid in the preservation of 203 affordable housing units, of which 115 will be accessible to households earning at or below 30% of the Area Median Income (AMI). Additionally, a portion of the units, 86 to be precise, will be reserved for individuals transitioning out of homelessness. Chavez emphasized the role of these grants in forestalling the loss of current affordable housing while also bolstering developers' ability to pursue new affordable housing projects.
Two projects within Ward 9 are slated for funding through these grants. Bloom Lake Flats, managed by the Project for Pride in Living and located in the Powderhorn Park neighborhood, will receive $231,210. It offers 42 affordable units, all of which are dedicated to individuals and families exiting homelessness. The facilities include units specifically for persons living with HIV/AIDS and provide supportive services through Affinity Residential Care LLC.
Similarly, Minnehaha Commons in the Longfellow neighborhood, overseen by Alliance Housing, is due $175,159. This funding bolsters a 44-unit project catering primarily to seniors with a past of homelessness. The complex provides not only housing support but also rental assistance and services facilitated by Touchstone Mental Health, confirming Alliance Housing's commitment to this vulnerable demographic.
Detailed information on the allocation and the projects benefitting from the MARS program can be found in the original post from Jason Chavez's Facebook page, where the commitment to the community’s housing stability by the City of Minneapolis is outlined and celebrated.
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