Rochester legislators celebrate record housing investments, highlight over $21 million in local projects
St. Paul, MN – The Minnesota Housing Board of Directors recently approved $348 million in funding for housing developments, the largest amount in state history. The investments were made possible by the 2023 Housing Budget bill, which put a record $1 billion towards building more housing, preserving existing homes, and increasing support for first-time homeowners, renters, and families.
Rochester State Representatives Tina Liebling, Kim Hicks, Andy Smith (all DFL-Rochester), and Senator Liz Boldon (DFL-Rochester), celebrated the announcement and highlighted investments in the Rochester area. Minnesota Housing’s 2023 selections included $3.868 million to Zumbro Ridge Estates for manufactured homes, $5.57 million to Restoration Glen for apartments, and $5.636 million to Mayowood II Senior Apartments. It also included over $6.315 million in investments to First Home Properties for rehabilitation, acquisition, and new construction of single-family homes.
The Rochester delegation released the following statement:
“Last session the legislature passed a budget with record investments in housing because we listened to Minnesotans struggling to find affordable housing. Housing is essential to making sure communities like Rochester can continue to thrive and grow, and it is important to take a holistic approach that supports manufactured homes and apartments as well as single-family homes.
“From new families to first-time homebuyers to seniors, these selections will help make homeownership possible for more Minnesotans. With over $21 million of local housing investments, this historic level of funding will create jobs, bring down housing costs, and ensure Rochester can continue to grow in the years to come.”
More information on the 2023 Housing Board selections, including complete project financing details, can be found on the Minnesota Housing website at www.mnhousing.gov.
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