GREATER METROPOLITAN HOUSING CORPORATION
Programs and results
What we aim to solve
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Single Family Homeownership Program
The Minneapolis business community founded GMHC in 1970 in the wake of social unrest about the declining quality of life in North Minneapolis. The founders' purpose was to increase the availability and quality of affordable housing for low- to moderate-income families and individuals. GMHC still operates the two original programs created by the founders, Single Family Homeownership Program and Predevelopment Revolving Loan Fund. The Single Family Program builds and renovates single family homes for sale, the majority to first-time homebuyers, minorities and people with incomes below 80% of the area median. The Predevelopment Revolving Loan Fund provides funding for the early and often high risk expenses of affordable multifamily housing developments for very low-income people, supportive housing, and homeless shelters. Over the years, GMHC's service area expanded from North Minneapolis to include Saint Paul and surrounding suburbs in the Twin Cities area as the need for affordable housing continues to grow.
As the largest nonprofit single family housing developer in the Twin Cities, GMHC helps create over 30 homeowners every year. Affordable housing is the foundation of productive lives, school success, asset building, and stable communities and this program helps builds wealth for first-time buyers, oftentimes first-generation buyers, including immigrants. Individuals, families and communities benefit from GMHC’s home construction by including: people who have often been excluded from homeownership have a pathway to a better life by participating in an energized, revitalized community; families have stable housing in which to nurture their children; property values increase in neighborhoods, generating tax revenues for cities/counties; and jobs are created during construction. For decades, GMHC has focused on constructing quality, energy-efficient homes and improving the energy efficiency of existing homes; new homes built by GMHC meet or exceed ENERGY STAR ratings and other green standards. Reducing energy costs for homebuyers helps make the home more affordable in the long run.
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Financials
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Operations
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GREATER METROPOLITAN HOUSING CORPORATION
Board of directorsas of 08/17/2023
Maureen O'Brien Wieser
United Prairie Bank
Term: 2010 - 2023
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