Greater Minnesota Housing Fund

Creating and preserving affordable housing since 1996 GMHF was launched as a joint effort of The McKnight Foundation and Blandin Foundation to address the urgent need for quality affordable housing in Greater Minnesota. Today we work in all 87 counties. We’re committed to addressing the housing needs of Minnesotans in under-served areas including cities, towns, rural areas, and Tribal nations. We are certified by the Department of Treasury as a Community Development Financial Institution (CDFI) and a 501(c)(3) nonprofit organization. GMHF is rated Four-Star, AA Policy Plus by Aeris and is a member of the Federal Home Loan Bank of Des Moines. We provide affordable housing financing (short-, mid-, and long-term lending products) and offer technical assistance to local communities and developers. As a statewide housing intermediary we provide policy leadership and advocacy for creation and implementation of new housing strategies. We provide grants to emerging developers and affordable housing organizations in our shared ecosystem of impact. Our subsidiaries Minnesota Equity Fund (MEF) and NOAH Impact Fund offer more dynamic housing solutions for developers and communities. MEF is a tax credit syndicator and joint venture with Cinnaire. This social enterprise is designed to raise equity capital and invest it in well-designed, high quality, sustainable developments throughout Minnesota and neighboring states. MEF has invested nearly $300M in 50+ developments with 2,700+ affordable units since it's inception. NOAH Impact Fund preserves naturally occurring affordable housing (NOAH) properties. NOAH Impact Fund creates opportunity for socially motivated investors and owner-operators to create and sustain long-term affordability options. Since 2017, this fund has mobilized $23.5M and preserved 701 units of market rate, unsubsidized housing investment.