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Construction Begins on 88-Unit Development

AUSTIN, MN-A need for affordable housing spurs a number of backers to provide $6.5 million for the multifamily deal, including Minnesota Housing Finance Agency, Hormel Foundation and Greater Minnesota Housing Fund.

By Jim McCartney | Updated on April 30, 2001

AUSTIN, MN-Construction recently began on an 88-unit townhome development intended to help alleviate the shortage of rental housing here. Called Murphy’s Creekdevelopment, the multifamily complex is being built on a site at 25th Avenue and County Road 45.

The project is prompted by rising demand for rental housing given a recent increase in jobs and population in the area. The financial backers include the Minnesota HousingFinance Agency MHFA, which is providing $3.3 million; The Hormel Foundation, $2.2 million; the Greater Minnesota Housing Fund, $1 million; and the city ofAustin, which plans to donate the land for the project.

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