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HUD Awards Four Elderly Housing Grants Totaling $13M

MINNEAPOLIS-Nonprofit groups in Delano, Minneapolis, Owatonna and Shakopee received grants to build a total of 121 units in affordable housing for low-income elderly or disabled occupants.

By Jim McCartney | Updated on December 03, 2003

MINNEAPOLIS-Nonprofit groups in Delano, Minneapolis, Owatonna and Shakopee recently received a total of $11 million in construction grants and about $2 million in rent subsidies to build affordable housing for low-income elderly people and people with disabilities from the U.S. Department of Housing and Urban Development.

* In Delano, CommonBond Communities will build 30 units with a HUD capital advance of $2.6 million and a five-year rental subsidy of $485,500. The funds will be used for the construction of a three-story elderly apartment building consisting of 29 one-bedroom units for very low-income elderly persons and a two-bedroom unit for a resident manager.

* Walker Methodist in Minneapolis was awarded a capital advance of $4.3 million and a five-year rental subsidy of $820,500 for the rehabilitation and new construction of a 50-unit elderly apartment building consisting of 49 one-bedroom units for very low-income elderly persons and a two-bedroom unit for a resident manager. The existing masonry building will be renovated to comprise 38 units and common areas, while a new addition will result in 12 additional units.

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