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PRESERVING HOUSING AFFORDABILITY IN MINNESOTA <br />ALBRIGHT TOWNHOMES <br />Albright Townhomes, a 100% project-based <br />Section 8 project, is a 89-unit property <br />located in South Minneapolis. In April 2018, <br />Albright began renovation activities with a <br />construction budget of nearly $75,000/unit. <br />In addition to necessary upgrades to finishes <br />and systems, CHDC is adding amenities that <br />will improve residents’ lives and the Albright <br />community. <br />Albright Townhomes holds the first HAP <br />contract issued in Minnesota. In the early <br />1990s, Albright was at risk of converting <br />to market rate and the City of Minneapolis <br />requested CHDC's help. Since, CHDC has <br />worked to preserve Albright. <br />Rehab is expected to be complete by the <br />end of 2018. <br />RIVERSIDE HOMES <br />CHDC and West Bank Community <br />Development Corporation are <br />partnering to rehabilitate 191 units <br />throughout Minneapolis’ Cedar-Riverside <br />neighborhood. <br />WBCDC's mission is to improve the quality of <br />life in Cedar Riverside through community- <br />based planning processes. CHDC provides <br />insight into the preservation of affordable <br />housing to further WBCDC's mission, while <br />WBCDC gives insight into the community. <br />Riverside Homes consists of 103 project- <br />based Section 8 units. The remaining 88 <br />units are affordable to households earning <br />60% AMI. <br />Rehab began in November 2018. <br />CHDC is dedicated to preserving its properties for the long term, through rehabilitation and strategic refinancing. <br />Its self-sustaining business model allows CHDC to recapitalize its existing portfolio without the use of scarce gap <br />resources.19THAVESCEDAR AVE S20TH AVE S21ST AVE S19TH AVSHI <br />G <br />H <br />WA <br />Y <br /> 5 <br />5 <br />25TH AVE S2NDSTS15TH AVE S27TH AVE S23RD AVE S26TH AVE S2 <br />2 <br />N <br />D <br /> <br />A <br />V <br />E <br /> S <br />MINNEH16TH AVE S13TH AVE S24TH AVE SSTAVES24TH AVE SHI <br />GHWAY <br />5 <br />522ND AVE S19TH AVE S23RD AVE S28TH AVE S29TH AVE SE SE SE SE SVE S20TH AVE SE S26T19TH AVE S2700 <br />925 <br />133 <br />255 <br />731 <br />1627 <br />2200 <br />4 <br />1500 <br />507 <br />2414 <br />709801 <br />5 <br />1300 <br />2116 <br />623 <br />630 <br />2015 <br />1 <br />501 <br />1811 <br />1417 <br />616 <br />628 <br />1600 <br />2200 <br />1900 <br />1525 <br />818 <br />717 <br />1601 <br />514 <br />400 <br />1309 <br />2512 <br />2020 <br />101 <br />1807 <br />504 <br />524 <br />1800 <br />606 <br />2406 <br />1406 <br />300 <br />2323 <br />2424 <br />1901 <br />19 <br />16 <br />429 <br />1901 <br />1920 <br />1500 <br />419 <br />1819 <br />1921 <br />1530 <br />147 <br />11 <br />1615 <br />2021 <br />1500 <br />711 <br />6 <br />1 <br />1 <br />2405 <br />1816 <br />701 <br />511 <br />1412 <br />2500 <br />620 <br />815 <br />1507 1825 <br />7031342115 <br />22001813 <br />2601 <br />1819 <br />413 <br />1816 <br />21 <br />1514 <br />599 <br />2024 <br />416 <br />1812 425404 <br />15 <br />707 <br />245 <br />1505608708 <br />29 <br />605181315042517 <br />1905 <br />405 <br />1808 <br />1809 <br />1814 <br />7021927 <br />722 <br />80815071918 <br />427 <br />1920 <br />501 <br />70621281 <br />4 <br />1 <br />3 <br />716 <br />723 <br />309 <br />428 <br />716 <br />50118241506 <br />607 <br />528 <br />811 <br />800 <br />523 <br />5 <br />25 <br />712 <br />3 <br />2 <br />2 <br />6171417151721 <br />1808629715 <br />810 <br />509 <br />625701150721 <br />1 <br />2 <br />519 <br />711 <br />2605 <br />518 <br />5241825 <br />7131811305 <br />71261718101917 <br />721 <br />814 <br />717 <br />1907 211961 9 <br />28132001 <br />2002 <br />2216 <br />19042016211371019222020192 <br />6 <br />614 <br />52515092006 <br />2011408 <br />21065131814427 121141812212820082117142018262012612 <br />602 <br />252619151907271124520181829608 <br />606 <br />2627616 <br />27012719709 <br />7251821 191960221500 <br />1813609 <br />604 <br />521 516 <br />1900 <br />1808191226111916212028071822212319011500 <br />2916720 <br />62418211826 <br />2823191128192602601282970818251813 <br />19162623260118162920180526177241920 <br />26192428260926051924400 <br />247 <br />181818222 <br />50015 <br />1 <br />6 <br />329 <br />23241808261320162315191418142530270718192514181527252831191026182729261426222608260426002717251625181916252221312731251025062112191219111906507 <br />5202619190326302604260826162618180720192617262926152612261320221916242519142603181415271429Cedar-Riverside <br />Riverside Homes buildings <br />are highlighted in red.