(Image credit: Family Housing Fund)
Land Bank Twin Cities has been partnering with Hope Community, Inc., Build Wealth MN, Model Cities of Saint Paul, Inc., CLUES, Rondo Community Land Trust, Family Housing Fund, Minnesota Homeownership Center and the Greater Minnesota Housing Fund to help The Building Equity in Small Multifamily Ownership initiative reach its goals.
Two Years Down, One to Go
The three-year project recently completed year two in its quest to help Black, Indigenous, and people of color (BIPOC) households build wealth as owner-occupants of small multifamily (two-to-four-unit) buildings.
Through April 2023, the program has helped 74 participants buy homes or become owner-occupants of duplexes or triplexes – almost all identified as BIPOC, and about three-quarters were low-income.