The lowest rental vacancy rate in Minneapolis in 10 years isn't good news for those seeking affordable housing. What that 2.4 percent figure means is that demand outweighs supply -- and most of us know that means the supplier (landlords and property owners) can raise prices. As the Minneapolis Housing Partnership second quarter report indicates, the average rent has increased in the past year from $902 to $921. Twenty bucks a month is a big deal to many families living on budgets with no margin for error.
We're building housing for people in that situation because we believe all people deserve housing where they and their families can not just survive but thrive. We build homes where children have a spot to do their homework, everyone has a bed and there's room for a dinner table. Building safe, affordable housing builds strong, connected families.
Our Emerson North development would create 28 families such homes in North Minneapolis, near public transportation, the Broadway business corridor , the Minneapolis Public Schools headquarters, numerous houses of worship and more -- creating a community cornerstone that will become another asset to the neighborhood.
Like Emerson North on Facebook to follow our progress and learn when you can help us make this dream real for families.