CITY OF MINNEAPOLIS Minneapolis Homes: Development Assistance RFP Housing Policy and Development Committee February 2019 1
Minneapolis Homes: Development Assistance RFP Criteria • Equity (40 pts) – demographics of households served and proposed to be served, utilization of Section 3 and Small and Underutilized Businesses, majority women or minority ownership or board positions, commitment to partnerships with workforce development programs • Efficiency and Capacity (35 pts) – experience developing new construction homes, previous experience working on City-funded projects, documentation of financing or the ability to secure financing • Design (25 pts) – implementing optional Enterprise Green Communities criteria, incorporating accessibility features through universal design, providing 5 or more bedrooms • Impact (15 pts) – proximity to other funded CPED projects, community-supported cluster investment strategies 2
Program Goals Goal 1: Preserve affordable homeownership opportunities throughout Minneapolis • New construction opportunities created by Minneapolis Homes are the most affordable new construction ownership opportunities in the City • Increase in Affordability Assistance ensures homes remain attainable to target buyers • Lots in Northeast and South reserved for Long Term Affordability to homebuyers at or below 80% AMI • In addition to assistance through Minneapolis Homes, homebuyers can access up to $15,000 in down payment assistance through non-City sources. Sources can often be layered. 3
Green Homes North – who was served Homes Sold as of December 31, 2018 Average Household Size: Average Household Income: Households of Color * : 3.3 $56,353 (60% of AMI) 68% Race and Ethnicity of Green Homes North Purchasers Asian 8% 12% Black/African-American 29% Hispanic 38% White/Caucasian, non-Hispanic 13% No Data *HH of Color calculation does not include HH who did not share demographic data
Program Goals Goal 2: Encourage new housing development on City-owned vacant lots Homes Funded Homes Funded Homes Proposed Minneapolis Homes in 2017 in 2018 in 2019 Development Assistance Program 21 Homes* 25 Homes 34 Homes** *Two homes originally proposed for funding did not require development assistance project gap funding. 5 **Staff plans to do a second RFP later in 2019
Program Goals Goal 3: Improve equitable outcomes in construction contracting and homeownership • Four developers are minority-owned • Two non-profit developers have more than 50% of board member positions occupied by people of color or women • Two developers are partnering with workforce development groups All units are Energy STAR certified and implementing additional • green criteria was encouraged Scored developers on demographics of households served and • proposed to be served, marketing and outreach plan, utilization of Section 3 and Small and Underutilized Businesses 6
Minneapolis Homes Round 3: 34 Properties • 24 homes in North • 2 homes in Northeast that are long term affordable • 8 homes in South that are long term affordable 7
City of Lakes Community Land Trust CONCEPT SUMMARY: • 3 Bedrooms, 2 Baths • 1,440 square feet • 3916 Blaisdell • 2953 Pierce St NE CONCEPT SUMMARY: • Accessory Dwelling Unit • 3 Bedrooms, 2 Baths • 1,440 square feet CONCEPT SUMMARY: • 2 Bedrooms, 1 Baths • 1,230 square feet • 3321 25 th Ave S 8
eStore Masters LLC (dba United Developers) CONCEPT SUMMARY: • 3 Bedrooms, 3 Baths • 1,686 square feet • 1418 Logan Ave N, Minneapolis, MN • 3427 Logan Ave N, Minneapolis, MN • 3504 James Ave N, Minneapolis, MN • 3510 Knox Ave N, Minneapolis, MN • 3514 Knox Ave N, Minneapolis, MN 9
Greater Metropolitan Housing Corporation (GMHC) CONCEPT SUMMARY: • 4 Bedrooms, 2 Baths • 1,758 square feet • 2659 Queen Ave N • 3226 Dupont Ave N CONCEPT SUMMARY: • 3 Bedrooms, 3 Baths • 1,768 square feet • 3242 Washburn Ave N • 2915 Sheridan Ave N 10
Greater Metropolitan Housing Corporation (GMHC) • 2720 James Ave N • 3126 Thomas Ave N CONCEPT SUMMARY: • 3 Bedrooms, 3 Baths • 1,758 square feet • 3118 Thomas Ave N CONCEPT SUMMARY: • 4 Bedrooms, 2 Baths • 1,758 square feet CONCEPT SUMMARY: • 4 Bedrooms, 2 Baths • 2,150 square feet • 4155 Irving Ave N 11
Jenny Investments LLC CONCEPT SUMMARY: • 3 Bedrooms, 3 Baths • 1,700 square feet • 3435 Humboldt Ave N • 412 Logan Ave N • 418 Logan Ave N 12
John Aish, Inc. CONCEPT SUMMARY: • 3 Bedrooms, 3 Baths • 1,536 square feet • 2031 James Ave N 13
Magnolia Homes CONCEPT SUMMARY: • Duplex – 2 Units • 3 Bedrooms, 2 Baths each • 1,102 square feet each • 917 31st Ave N 14
Prestige Contractors CONCEPT SUMMARY: • 3 Bedrooms, 3 Baths • 1,902 square feet • 2719 Queen Ave N • 2904 Queen Ave N 15
PRG, Inc. CONCEPT SUMMARY: • 3 Bedrooms, 2 Baths • 1,856 square feet • 2126 Fremont Ave N • 2213 Fremont Ave N • 2638 Girard Ave N • 2417 16 th Ave S • 2623 17 th Ave S CONCEPT SUMMARY: • 3 Bedrooms, 2 Baths • 1,856 square feet • 2614 Irving Ave N 16
Twin Cities Habitat for Humanity • 2406 11 th Ave S • 2426 Elliot Ave S • 2444 10 th Ave S CONCEPT SUMMARY: • 5 Bedrooms, 2 Baths • 1,733 square feet • 3408 Oakland Ave S CONCEPT SUMMARY: • 4 Bedrooms, 2 Baths • 1,632 square feet CONCEPT SUMMARY: • 3 Bedrooms, 2 Baths • 1,492 square feet • 609 Fillmore St NE 17
Summary • 35 Units • 10 Long Term Affordable Homes • 1 Duplex • 1 Accessory Dwelling Unit (ADU) • 9 Developer Partners • 5 For-profit • 4 Non-profit • $11.5 million of investment in housing in Minneapolis • $2.9 Million from City sources including grants from Minnesota Housing 18
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