Minneapolis Homes purpose is to reduce property vacancy, create new housing units, and sustain homeownership in the City of Minneapolis.
We provide educational, financing, and property opportunities to homebuyers, homeowners, and developers to create and sustain housing in the City of Minneapolis.
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City-owned land that can be used towards housing development.
- City-owned vacant land: available to purchase any time to develop a 1-4 unit home
- City-owned vacant structures: open houses are posted as they are available and communicated through the Minneapolis Homes e-mail listserv.
- CPED Request for Proposals: Request for Proposals are issued for business development, multifamily housing (4+ units), and funding opportunities through the CPED RFP website.
- Homegrown Minneapolis: Lease City-owned vacant lots for community gardening. Non-profit or neighborhood organization sponsorship is required.
Additional Resources for Homebuyers Purchasing City-owned Property
- Purchase a move-in ready home that has been developed through City programs. Affordability restrictions apply, contact the developer for more information.
- Residents with no experience can hire a licensed general contractor and purchase a city-owned vacant lot or a city-owned vacant structure. Financing resources and guidance is posted below.
Financial tools and assistance to create and sustain housing in Minneapolis
- City of Minneapolis down payment assistance is available for purchasing a home in the City of Minneapolis. See program details for income and/or geographic restrictions.
- Non-City resources for homebuyer assistance
- Minnesota Homeownership Center Down Payment Assistance Search Tool
- Neighborhood Revitalization Program: some neighborhood organizations offer down payment assistance, contact the neighborhood your potential home will be located in to learn more
- Non-City resources for homebuyers acting as their own developer
- Financial assistance for rehabilitation or new construction of 1-4 unit homes and selling them to qualified buyers.
- CPED Request for Proposals : Request for Proposals are issued for business development, multifamily housing (4+ units), and funding opportunities through the CPED RFP website.
- Non-City resources for financing development projects
- City of Minneapolis Home Improvement Programs: Loans available to address health and safety repairs and code violations with little to no interest rates.
- Non-City resources for rehabilitation: Additional programs available to assist homeowners with home improvement and rehabilitation financing, several utilize volunteers to complete repairs at no cost for eligible homeowners.
- Minneapolis Department of Health Lead Renovation Grants: available to landlords with income qualified tenants to reduce lead hazards in rental properties
- Center for Energy and Environment: offers financing to improve the energy efficiency of rental units
Trainings and educational resources that build capacity to access homeownership and development opportunities. Available move-in ready homes created through City programs are posted here.
- Financial Wellness/Homebuyer Readiness: Free financial counseling agencies and homeownership advisors are available to help with credit repair, financial coaching, homeownership counseling, mortgage options, and down payment resources.
- African Development Center
- African Families Development Network
- Bii Gii Wiin Community Development
- BuildWealth Minnesota, Inc.
- Comunidades Latinas Unidas en Servicio (CLUES)
- Hmong American Partnership
- Lao Assistance Center on Minnesota
- Minnesota Home Ownership Center
- Minneapolis Urban League
- Neighborhood Development Alliance
- PRG, Inc.
- Twin Cities Habitat for Humanity
- Homebuyer Education: Minneapolis Homes financial assistance programs require homebuyers to attend homebuyer and/or financial wellness education. Low-cost workshops are available in multiple languages, at which counselors are available to help determine affordability, credit concerns, and make lender referrals.
- Minneapolis Employment and Training: A variety of employment and training programs are available to help increase income and overcome barriers to housing goals.
- D-TAP: The Small Developers Technical Assistance Program (D-TAP) is focused on building the capacity of small, women, and/or people of color-owned developers by providing education on the real estate development process, and connecting developers to opportunities to work with the City of Minneapolis.
- Target Market Program: Through the Target Market Program, qualified small businesses will have the ability to respond for City contracts up to $100,000 instead of competing against larger, more established companies.
- Minneapolis Employment and Training: A variety of tools and resources are available to help businesses and individuals with employment, training, and talent recruitment.
- Urban Land Institute’s Real Estate Diversity Initiative (REDi): learn what it takes to put together a successful development, eligible to people of color and women.
- Secretary of State Homebuilding and Remodeling Guide information about homebuyer warranties and hiring a contractor.
Glossary: Definitions of key terms used throughout this website and for housing programming
Affordability Gap – The difference between the appraised value of a home and the amount that a homebuyer can afford to pay for a first mortgage.
Area Median Income (AMI) – If everyone’s incomes in the Twin Cities Metro area were lined up lowest to highest, the area median income would lie directly in the middle. AMI varies by household size.
Developer – individual or entity that is responsible for putting a deal together and contracts with the City of Minneapolis
Development Assistance – Money that can be used by developers to purchase, rehabilitate, or build, and ultimately sell a home. Development Assistance can be used to fill a project/value or affordability gap
Down Payment Assistance/Homebuyer Assistance – Money that can be used by homebuyers to assist in making a down payment or paying for closing costs.
HUD – U.S. Department of Housing and Urban Development (federal funding source)
Long-Term Affordability (LTA) – Properties that are restricted to be affordable to owners earning 80% AMI or below for 30 years
MN Housing – State agency that provides funding previously referred to as MHFA
Offer to Purchase – A written contract that defines the terms under which a buyer agrees to purchase property
Project Gap/Value Gap – The difference between the total development cost of a property and its fair market sale price once completed
Request for Proposals (RFP) – A bidding process through which individuals or organizations interested in providing development services to the City submit proposals to participate in a program
Request for Qualifications (RFQ) – A process through which individuals or organizations interested in participating in a City program prove their qualification criteria and/or eligibility
Terms – The conditions under which an agreement is made.
Zoning Code – A set of city regulations and law that defines how property in specific geographic areas can be used
For more information contact Minneapolis Homes.
Last updated Feb 15, 2019