Minneapolis – Aeon, a member of the NeighborWorks network, is receiving $550,000 in flexible grants from the Neighborhood Reinvestment Corporation, dba NeighborWorks America. This generous support will bolster Aeon’s work to create and sustain quality affordable homes for thousands of our neighbors.
“It is undeniable that we have a crisis in affordable housing in this country, and that is why I am so glad Aeon is receiving this grant,” said Congressman Keith Ellison. “It will serve as an important step toward reducing the hardship that too many families face and supporting Aeon’s work to generate new stability and opportunity for our neighbors.”
Aeon joined the NeighborWorks network in 2010 and has used NeighborWorks funds to power its mission and provide staff development. With NeighborWorks’ latest grants, Aeon will continue to preserve existing and build new affordable homes.
“Since 2010, NeighborWorks’ steady support has helped Aeon add more than 2,000 affordable apartment homes to the Twin Cities region,” said Alan Arthur, President and CEO of Aeon. “We thank NeighborWorks for the funding to make our work possible so that our residents can find the stability of home.”
NeighborWorks America has announced $65 million in grants to its network of more than 240 nonprofit organizations located around the country. NeighborWorks organizations will use the grants to develop and manage high-quality affordable homes, help consumers set and reach their goals through financial coaching, offer homeownership education and counseling, and revitalize and strengthen communities.
“NeighborWorks America is committed to ensuring our investments are working in ways that improve people’s lives,” said Jeffrey Bryson, NeighborWorks America interim president and chief executive officer.
In fiscal year 2017, the NeighborWorks network counseled 181,400 families and individuals on financial capacity, pre-purchase, post-purchase, or foreclosure issues; owned and managed 165,500 rental homes; and created more than 43,000 jobs.
For more information about Aeon visit Aeon.org. For more information about NeighborWorks America go to NeighborWorks.org.
About Aeon
Aeon is a nonprofit developer, owner, and manager of high-quality affordable apartments and townhomes which serve nearly 8,000 people annually in the Twin Cities area. Since 1986, Aeon has been committed to helping people create homes where they feel safe and connected to the community around them. We believe that home changes everything.
Aeon’s board of directors welcomed five new members: Suado Abdi, Jackie Foster, Tanessa Greene, Tom Hoffman and Martha Nevanen. “Our dedicated board serves with the passion and heart needed to have an impact on our community,” says Aeon CEO & President Alan Arthur. “We are excited to have individuals with new perspectives and diverse experiences join us to support Aeon’s mission.”
Suado Abdi
Suado Abdi is a City Planner for the City of Minneapolis and has extensive knowledge of zoning, city process and policy, and the project review process for real estate development. Before becoming a city planner, Suado was a Graduate Fellow at Metropolitan Consortium of Community Developers (MCCD) and at Hope Community, an organization Aeon partnered with to develop The Rose, an award-winning sustainable property in Minneapolis. She holds a master’s degree in Urban and Regional Planning, Housing, Community and Economic Development from University of Minnesota’s Humphrey School of Public Affairs. Suado is also a current board member of the Minneapolis Food Council.
Jackie Foster
Jackie Foster is a Senior Patient Education Specialist at Be The Match® where she develops educational programs and resources for patients and families. She is also a registered nurse and holds a certification in oncology nursing. Jackie has served on the board of the Cancer Patient Education Network and currently volunteers as a tutor for nursing students through the International Institute of Minnesota. She received a Master of Public Health degree from the University of Minnesota and a Bachelor of Arts degree in nursing and Hispanic studies from St. Olaf College.
Tanessa Greene
Tanessa Greene is the Manager of Small Business Procurement for Hennepin County, where she is responsible for driving the economic inclusion of small businesses in Hennepin County contracting opportunities. Prior to joining Hennepin County, Tanessa founded Signature Solutions Consulting, where for over 14 years she led nonprofit leaders in the development of high-impact programming that improved the health, education and economic stability of underserved communities of color. She has also led the revitalization of Minneapolis Way to Grow, a city-wide school readiness program, and the reorganization of North Point Inc., a community-based agency providing economic stability services in North Minneapolis. Tanessa has served on numerous boards and committees including, The Citizens League, Network for the Development of Children of African Descent (NdCad) and Ascension Academy High School.
Tom Hoffman
Tom Hoffman is a Senior Vice President with Colliers International, where he identifies optimal tenant-focused, occupier solutions for a wide range of Colliers International clients and prospects. He has nearly 20 years of real estate experience, both on the commercial and residential side of brokerage. Tom began his real estate career specializing in multi-family and residential investment property re-development and sales. He holds a B.A. from Augsburg College. Tom is currently the president of the board of governors at Temple Israel in Minneapolis. He is also a past board member of the Minneapolis Area Association of Realtors and is active in the Minnesota Commercial Association of Realtors.
Martha Nevanen
Martha Nevanen is the Senior Vice President of Marketing Communications for NorthMarq Capital, a commercial real estate mortgage banking firm with offices across the U.S. She is an award-winning strategic communications professional with more than 25 years of experience in commercial real estate, commercial insurance and public-private partnerships. Martha has been an active volunteer for 20 years for CornerHouse, the Commercial Real Estate Diversity Collaborative, IABC (the International Association of Business Communicators) and St. Thomas Becket Church. Martha holds a B.A. in journalism from the University of Missouri.
About Aeon
Aeon is a nonprofit developer, owner and manager of high-quality affordable apartments and townhomes which serve nearly 8,000 people annually in the Twin Cities area. Since 1986, Aeon has been committed to helping people create homes where they feel safe and connected to the community around them. We believe that home changes everything. For more information, visit aeon.org or follow us on Twitter and Facebook.
Minneapolis – Mayor Jacob Frey rallied a crowd of 650 attendees to support affordable housing nonprofit Aeon at its Beyond Bricks & Mortar breakfast yesterday. Aeon is a nonprofit developer, owner and manager of affordable homes serving nearly 8,000 residents annually in the Twin Cities area.
“When public, private, and nonprofit partners come together to expand access to affordable housing, we can deliver real results and help more people find housing security,” said Mayor Frey.
Aeon is committed to slowing this loss of affordable homes through partnerships with the government, business and nonprofit sectors, and hundreds of generous donors and investors. With community support, Aeon preserved and built 1,190 homes in 2017.
From the community of Richfield, City Councilmember Maria Regan Gonzalez emceed the program, highlighting the issues their community has faced. Councilmember Gonzalez reminded the audience of the real-life impact on former residents of the Crossroads redevelopment, and celebrated the contrast with Aeon’s acquisition of Seasons Park Apartments. Aeon’s purchase of the property preserved the homes of 800 Richfield residents.
Minnesota Housing Commissioner Mary Tingerthal was on-hand to show the state’s support for Aeon’s work. A host of other government, county and city officials and policy leaders also attended.
Dominium, a private affordable housing development and management company, was the presenting sponsor of the event. Dominium and 30 other corporate sponsors helped ensure this was a free event for attendees to learn more about work Aeon is doing to respond to the crisis and how they can help.
Sunrise Banks, whose mission is to empower people to achieve financial wellness, is also committed to facing the housing crisis head-on.
“Sunrise Banks is a social engine for good,” said President Nichol Beckstrand. “That’s why we’ve invested in Aeon’s mission. We can build stronger communities and promote financial wellness only if we can make home affordable.”
Sunrise Banks announced a $20,000 giving challenge to the audience and in just a few minutes 100 attendees raised their keys to become a monthly donor, responding to Aeon’s call to create and preserve affordable homes.
Affordable homes are disappearing faster than organizations like Aeon can preserve or replace them. The bulk of these losses is among naturally occurring affordable housing, or “NOAH” properties, which are modest, aging apartments that are affordable to renters earning low incomes. These properties are being purchased by investors and upscaled, raising rents and displacing most residents in the process.
“We are losing NOAH homes at a rate of 50-100 units per week,” said Aeon President and CEO Alan Arthur. “The community is taking notice of this crisis and making their voices heard by challenging their elected officials to find policy solutions, through their support of Aeon to lead boldly on these issues.”
About Aeon
Aeon is a nonprofit developer, owner and manager of high-quality affordable apartments and townhomes which serve nearly 8,000 people annually in the Twin Cities area. For more than 30 years, Aeon has been committed to helping people create homes where they feel safe and connected to the community around them. We believe that Home changes everything. For more information, visit aeonmn.org or follow us on Twitter and Facebook.
Minneapolis — Today Aeon, a nonprofit developer, owner, and manager of affordable homes, celebrated the grand re-opening of 116 renovated homes across three affordable properties serving formerly homeless and extremely low-income residents: the Lamoreaux, the Continental and the Coyle.
Aeon’s mission is to create and sustain quality affordable homes that strengthen lives and communities. Thanks to support from numerous funding partners, Aeon was able to improve the quality of these historic homes for residents while maintaining the affordability of each property.
“I’d like to thank all of the partners who made this renovation possible,” said Aeon President & CEO Alan Arthur at the event. “It’s evidence that Aeon can’t do this alone. It’s the community that makes quality, affordable homes a reality. Aeon is simply a tool for the community. We’re grateful to have so many partners who share in our belief that home changes everything.”
Minneapolis Mayor Jacob Frey also attended the event and shared a few words: “Minneapolis should aspire to be a city where everyone has access to affordable housing. Today marks an important step toward that vision with Aeon’s renovation of 116 apartment homes affordable for those at 30% and 50% of the area median income. This collaboration between the City and our community partners is a model for creating deeply affordable housing in neighborhoods across our city.”
Among the three properties, the most extensive renovations were made at the Lamoreaux and the Continental Hotel, where each apartment now has a private kitchen and bathroom. At the Coyle, kitchens were remodeled in the apartments. More than 150 residents across the three properties will get to enjoy upgraded community rooms with fresh paint, flooring, furniture and light fixtures.
Funding for these improvements was provided by the City of Minneapolis Community Planning & Economic Development, Enterprise, Enterprise Community Fund, Family Housing Fund, Federal Home Loan Bank – Des Moines, Hennepin County, Minnesota Housing Finance Agency, Preservation Alliance Minnesota (PAM) and Two Harbors Investment. The grand re-opening event was sponsored by Enterprise.
The Continental Hotel, built in 1910 and renovated by Aeon in 1992 has a storied history, documented by the Star Tribune. The Continental and the Lamoreaux—another historic rehabilitation Aeon completed in 1992—have been recognized with the Neighborhood Environment Award from the Minneapolis Committee on Urban Environment and the Adaptive Re-Use Award from the Minneapolis Heritage Preservation Commission.
About Aeon
Aeon is a responsive nonprofit developer, owner and manager of high-quality affordable apartments and townhomes which serve almost 8,000 people annually in the Twin Cities area. Since 1986, Aeon has been committed to helping people create homes where they feel safe and connected to the community around them. We believe that home changes everything. For more information, visit aeon.org or follow us on Twitter and Facebook.