During the past 40 years, since GMHC’s founding, high risk seed loans and development assistance have been provided to developers and organizations throughout the metropolitan area. Through its Predevelopment Loan Program, GMHC has enabled the creation of more than 23,000 affordable housing units serving low-income, disabled and elderly residents.

In light of the challenging financial and economic environment, current development under this program has significantly slowed. However, GMHC’s strong track record of supporting the development of affordable housing remains intact. Since 1971, a total investment of nearly $2 billion has been supported by the Predevelopment Loan Program.

Following are the types of affordable housing development supported by this GMHC program since 1971:

Family Housing
The need for affordable housing is critical for families in the Twin Cities metropolitan area.
45 units of housing have been funded or built for families.

Senior Housing
There is a continuing need for affordable housing to support this fastest growing population segment. Sixteen units of housing have been funded or built for seniors assisted living & independent living.

SRO/Supportive Housing
Supportive housing helps people facing the challenge of homelessness, and help them with issues such as substance abuse, mental illness, HIV/AIDS.
Eight units of housing have been funded or built to help people live more stable, productive lives.

Preservation of Subsidies
Twenty-seven units of affordable housing have been funded or built to ensure the preservation of existing affordable housing stock.

Special Needs
Four housing units have been funded for people with special needs.