The purpose statement of the Residential and Real Estate Development (RRED) work unit is to create healthy, mixed income housing markets in the City of Minneapolis by developing opportunities for homeownership and responsibly managing land banked property. RRED is part of the City of Minneapolis Community Planning and Economic Development (CPED) department.
Your Feedback is Needed
Take this survey before January 31!
The City of Minneapolis is seeking feedback about recommended strategies for future housing investments. The strategies were developed during an analysis of the Residential and Real Estate Development work unit’s housing investments in single family and low-density rental housing from 2008-2014.The draft report is linked here, the final report will incorporate comments about recommended strategies received during a series of open houses in November and responses to the survey.
Recommended strategies are:
- Direct a majority of resources to clearly defined target areas of 15 blocks or less.
- Designate Neighborhood Revitalization Strategy Areas (NRSA) in target neighborhoods.
- Deploy a more comprehensive strategy for rental development that provides more choices for a range of income levels and promotes deconcentration of affordable housing.
- Allocate a portion of affordability gap financing dollars to city-owned properties in stronger market areas, where development subsidies are not required, to provide low-to-moderate income families the option to live in high opportunity neighborhoods.
The City of Minneapolis is considering recommendations from the report to guide future housing investments. There will be additional opportunities for community feedback if the City of Minneapolis moves toward implementation of the strategies recommended in the report.