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Affordable Housing and TOD Investment

Corridors of Opportunity provides loans and grants to support new equitable transit-oriented development (TOD) projects and the preservation and/or creation of affordable housing units near transitways.

In addition to providing funding resources, the Affordable Housing/TOD Implementation Team works to:

  • Develop a pipeline of housing projects along the Central, Hiawatha and Southwest LRT corridors
  • Host pre-development meetings with funders and developers to identify opportunities for joint investment
  • Explore new financing opportunities for TOD
     


CORRIDORS OF OPPORTUNITY LOAN PROGRAM

Twin Cities LISC, Twin Cities Community Land Bank, and the Family Housing Fund administer the program, which has a loan pool of $14.3 million available for:

  • Preservation: acquisition, rehabilitation, construction and preservation of single-family and multi-family affordable housing
  • TOD Projects: new multi-family housing or mixed-use transit-oriented developments.
  • Projects must be located within ½ mile of Hiawatha LRT, Central Corridor LRT, or Southwest LRT stops and ¼ mile from certain bus connections.

Corridors of Opportunity Loan Program RFP (9 pages, PDF)

Contacts:

Elizabeth Ryan, Family Housing Fund, Email, 612.375.9644
Kate Speed, Twin Cities LISC, Email, 651.649.1109
Judy Jandro, Twin Cities Community Land Bank, Email, 612.238.8210
 



LOCAL IMPLEMENTATION CAPACITY GRANT PROGRAM

In May 2012, the Corridors of Opportunity Policy Board awarded $953,000 of Local Implementation Capacity (LIC) grants to provide early support for the development of high-density residential and commercial centers designed to maximize access to these uses by transit, walking and biking.

Read more about the Local Implementation Capacity (LIC) grants.