Minneapolis Homes Financing

We’re asking developers to send proposals for funding to build 1 to 20 affordable homes for sale.

Important dates

This Notice of Funding Availability has multiple deadlines.

Overview

We want to increase the number of affordable homes with 1 to 20 units in neighborhoods across Minneapolis. We also aim to reduce racial gaps in homeownership.

We’re now accepting applications from developers who want to build affordable homes in the city. You can apply to:

  • Buy a City-owned lot.
  • Propose a project on privately owned land.
  • Rehab a city or privately owned unoccupied home.

These homes must be affordable for households earning up to 80% of the area’s median income.

Multi family building in Minneapolis at 628 E Franklin

Notice of funding availability

Related programs

Learn more about the included programs:

Available properties

See interactive property map

Dates to know

Requirements

To qualify, you must:

  • Have a development team that includes a developer or general contractor with experience building similar projects in the last 2 years.
  • Show that you have enough funding to cover all project costs, including early steps like hiring an architect, surveyor, or energy rater.
  • Be ready to close on the property and start construction within 6 months of approval. You must finish construction within 12 months of closing.
  • If you’re new to Minneapolis Homes: Financing programs, we strongly encourage you to join the City’s Developer Technical Assistance Program or a similar support program. We also recommend working with an architect.

Request accessible format

If you need help with this information, please email 311, or call 311 or 612-673-3000.

Please tell us what format you need. It will help us if you say what assistive technology you use.

Minneapolis Homes Financing property map

Steps to apply

We explain the steps you must follow to apply for funding.

Contact us

Minneapolis Homes: Build or Rehab

Community Planning & Economic Development

Address

Public Service Building
505 Fourth Ave. S., Room 320
Minneapolis, MN 55415