Minnesota announces $348 million in funds for affordable housing projects

(St. Paul, MN) -- Minnesota will fund dozens of projects to increase the amount of affordable housing in the state.  

Governor Walz and Lieutenant Governor Flanagan announced $348 million dollars in funding for the projects on Friday. The money will help build or preserve nearly 1,500 rental units, while building or rehabilitating just over 1,300 homes. Some money will also go toward improvements to manufactured home communities and increasing home ownership opportunities statewide.

“We’re taking important steps to expand and preserve affordable housing, make home ownership a reality for more Minnesotans, and ensure Minnesota housing meets the needs of families across the state,” said Lieutenant Governor Peggy Flanagan. “The project selections announced today will soon become safe, stable homes thousands of children will grow up in. Their futures will be brighter because of what we accomplished together.”

The state estimates the new projects will create 7,000 jobs.