The affordable housing crisis can impact those living in rural areas the hardest. Properties located outside of urban centers can often be neglected due to a lack of financial investment, as many developers are attracted to larger areas where the potential for return on investment is higher, and state and federal resources allocated to rural areas lack the level of investment needed to keep up with the growing needs. Yet, at the same time, these areas are home to some of our lowest income seniors and families.
We acquired two properties owned by a private party, with both locations housing a number of lower-income and seniors. Located in Belle Plaine and Jordan, these properties being sold could easily run a risk of increased rents during the transition, potentially displacing the communities of people that resided in these homes.
The CDA purchased the property and developed a Capital Improvement Plan to address the aging condition of the property in order to preserve these affordable homes within Scott County.
We CDA worked with the property owners and our funding partners, Rural Development and Minnesota Housing, to purchase the properties (Belle Haven in 2003, Britland in 2010) and provide the capital needed to improve the property to ensure the long-term affordability for years to come.