- 100-unit permanent supportive
housing community to provide onsite support services to help ensure
veterans have greater access to health, education and job-training
programs
- Funding received from many
public-private partners, including $5.2 million in equity from
UnitedHealth Group and $7.7 million in deferred loan funds from
Minnesota Housing
Struggling military veterans will have access to new housing and
resources to help end the cycle of homelessness, as construction is
now underway for a new, affordable-housing community in
Minneapolis.
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Veterans, project partners and community
leaders herald the start of construction for Veterans East during a
groundbreaking ceremony at the construction site. L to R: Andrew
Johnson, Minneapolis City Council Member; Peter McLaughlin,
Hennepin County Commissioner; Elizabeth Niemyer, Rear Admiral US
Navy (Retired), Chief Program Officer, UnitedHealthcare Military
& Veterans; Mary Tingerthal, Commissioner, Minnesota Housing;
Elizabeth Flannery, CEO, Community Housing Development Corporation;
Patrick Kelly, Capt. US Navy (Retired); Director, Minneapolis VA
Health System; Warren Hanson, President and CEO of Minnesota Equity
Fund; Chris Laurent, Senior Vice President, Cinnaire; Tim Moore,
veteran and resident of Veterans Housing Community; Dale Forsberg,
president, Watson-Forsberg General Contractors (Photo: Matt
Page).
During a ceremonial groundbreaking for Veterans East, veterans
groups, project partners and community leaders heralded the new
development as vital in helping end homelessness among military
veterans in Minnesota. According to Heading Home Minnesota, a
public-private partnership to end homelessness, more than 10,000
Minnesotans are homeless on any given night, including more than
279 veterans.
Funding for the $14.3 million veterans’ community, developed by
the Community Housing Development Corporation (CHDC), was secured
through a collaboration of public- and private-sector partners.
“We are pleased to begin construction on this important new
community that will serve veterans who have struggled with
homelessness,” said Elizabeth Flannery, president of CHDC. “So many
partners have come together to help Veterans East become a place
for veterans to call home.”
Minnetonka-based UnitedHealth Group (NYSE: UNH) is the largest
private investor, providing $5.2 million in equity through a
partnership with Minnesota Equity Fund, using Low Income Housing
Tax Credits approved by the state. Minnesota Housing, the other
major investor, is providing $7.7 million in deferred loan funds
for the new development. Additional funding includes $500,000 from
Federal Home Loan Bank (FHLB) of Des Moines; $350,000 from Hennepin
County; $260,000 from CHDC affiliates; and $290,000 in energy and
sales tax rebates.
“This new community will be a model for providing permanent
housing and services for military veterans,” said Minnesota Housing
Commissioner Mary Tingerthal, who co-chairs the Minnesota
Interagency Council on Homelessness. “We are honored to join with
so many partners to help end veteran and chronic homelessness.”
“We are grateful for the opportunity to play an integral part in
helping make a difference in the lives of military veterans who
have given so much for our country,” said retired Rear Adm.
Elizabeth S. Niemyer, Chief Program Officer, UnitedHealthcare
Military & Veterans, a UnitedHealth Group company that provides
health care services for nearly 2.9 million service members,
military retirees and their families. “This is an important new
housing community that will have a tremendous impact in serving
military veterans in our state for years to come.”
When completed in Summer 2017, the new 100-unit efficiency
apartment community will provide permanent supportive housing for
veterans struggling with homelessness. Through partnerships with
the Veterans Administration, CHDC, BDC Management Company and
Hennepin County, Veterans East will include onsite services to
assist residents with health care, case management, life skills,
financial management, benefits assistance, education and employment
resources.
“This is a proud moment for our community,” said Hennepin County
Commissioner Peter McLaughlin. “The men and women who will be
living at Veterans East have endured many sacrifices while serving
our nation, and Veterans East will provide housing and support
services to help lift them up and out of poverty.”
The five-story property will feature a lobby with security,
community room with gas fireplace and kitchenette, laundry facility
and resident parking. Watson-Forsberg is the general contractor,
and LHB is the architect.
The $5.2 million investment by UnitedHealth Group is part of
more than $240 million the company has provided since 2011 to
finance affordable-housing communities with supportive services
throughout the United States. These investments have included $29
million for affordable housing in Minnesota, including $7.2 million
for the recently completed CommonBond Veterans Community at Fort
Snelling.
“MEF provides a vehicle for socially motivated corporations like
UnitedHealth Group and financial institutions to make economic
investments in well-designed, high-quality affordable-housing
developments in growing communities throughout Minnesota,” said
Warren Hanson, MEF president and CEO. “Our partnership in this new
veterans development will help meet the critical need to provide
military families with quality, permanent housing with supportive
services.”
About Community Housing Development Corporation (CHDC):
CHDC has provided stability to Minnesota residents and communities
for more than 25 years as a nonprofit developer and owner of 44
properties with more than 4,300 affordable units. CHDC’s properties
provide housing for more than 5,000 residents. CHDC was founded on
the belief that long term, nonprofit ownership is the best way to
sustain high quality affordable housing. Its mission is to develop
quality housing for people earning low incomes.
About the Minnesota Equity Fund (MEF): MEF is a
subsidiary of the Greater Minnesota Housing Fund (GMHF), a
non-profit Community Development Financial Institution. GMHF
provides loans, equity investments, grants and technical assistance
to create affordable housing in Minnesota. MEF is a strategic
partnership between GMHF and Cinnaire, a nationally recognized
syndicator of low-income housing tax credits with over $3 billion
under management.
About Minnesota Housing Finance Agency: Minnesota Housing
finances affordable housing opportunities for low- and
moderate-income Minnesotans while fostering strong communities.
Find out more at www.mnhousing.gov, Twitter @mnhousing and at
www.facebook.com/minnesotahousing.
About UnitedHealth Group: UnitedHealth Group (NYSE: UNH)
is a diversified health and well-being company dedicated to helping
people live healthier lives and helping to make the health system
work better for everyone. UnitedHealth Group offers a broad
spectrum of products and services through two distinct platforms:
UnitedHealthcare, which provides health care coverage and benefits
services; and Optum, which provides information and
technology-enabled health services. For more information, visit
UnitedHealth Group at www.unitedhealthgroup.com or follow
@UnitedHealthGrp on Twitter.
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Group.
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CHDCElizabeth Flannery, 612-332-6264orMinnesota
HousingMegan Ryan, 651-297-3566orUnitedHealth GroupLynne
High, 952-979-5861orMEFWarren Hanson, 651-221-1997 x107
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