Predevelopment Loan Fund Program
Types Of Projects funded
Program Highlights, 1971-2007
Single-family Homeownership Program & Predevelopment Revolving Fund Program.
Family Housing – 11,535 units of housing, at a development cost of $1,646,432,193 have been funded or built for families. The need for affordable housing opportunities is a critical one for families in the Twin Cities metropolitan area.
Senior Housing – 4,049 units of housing, at a development cost of $271,524,179 have been funded or built for seniors assisted living & independent living. As seniors continues to be among the fastest growing populations, there is a continuing need for affordable senior housing.
SRO/Supportive Housing – 2,002 units of housing, at a development cost of $138,646,086 have been funded or built to help people live more stable, productive lives. Supportive housing helps people facing challenges of being homeless, and help them with issues such as substance abuse, mental illness, HIV/AIDS.
Preservation of Subsidies – 5,509 units of affordable housing at a development cost of $327,926,089 have been funded or built to ensure the preservation of existing affordable housing stock.
Special Needs - 1,040 units at a development cost of $75,068,037 have been funded for people with special needs.
HOUSING UNITS FUNDED BY GMHC LOANS IN 2007:
70% (346 units) Family Housing.
17% (84 units) SRO/Supportive Housing.
13% (64 units) Preservation Of Subsidies.