901 27th Avenue South, Minneapolis MN 55406

Newport Midwest: Our Development Approach

• Create high-quality affordable housing

• Innovate on existing ideas that generate additional value

• Community-first focus

Hook & Ladder ApartmentsHolland Neighborhood, Minneapolis

Development Proposal

• 174 total units, 100% income restricted

• Workforce and family housing• 56% of units at 50% AMI• 10% of units at 30% AMI• 10% units reserved Hennepin County

Human Services and Public Health Department (HSPHD) Clients with project-based Section 8 from Minneapolis Public Housing Authority

• 24% (the balance) of the units at 60% AMI

Unit Mix1 Bedroom 582 Bedroom 723 Bedroom 44

Area Median Incomes Defined• 2020 Metro Area AMI for a 4-person

household is $103,400• 60% AMI

• 1 Person Household Income of $43,440• Roughly equal to a $21/hr full-time wage

• 4 Person Household Income of $62,040

• 50% AMI• 1 Person Household Income of $36,200

• Roughly equal to a $17/hr full-time wage• 4 Person Household Income of $51,700

• 30% AMI• 1 Person Household Income of $21,720

• Roughly equal to a $10/hr full-time wage• 4 Person Household Income of $31,020

• Project-Based Section 8 – tenants pay 30% of their household income in rent, the balance is paid by local Housing Authority

Agra Proposed Set Aside Mix 1 Bedroom 2 Bedroom 3 Bedroom60% Area Median Income 11 25 6

Rents $1,120 $1,339 $1,54350% Area Median Income 31 37 29

Rents $926 $1,157 $1,65230% Area Median Income 7 9 2

Rents $538 $641 $736Project-Based Section 8 9 1 7

Rents $944 $1,186 $1,543Total Units 58 72 44

Urban Agriculture

• Combining food production with multi-family housing

• Inspiration: Arbor House in New York City• Built in 2012• 124 units• 100% income restricted• 9,000 square feet of rooftop

hydroponic greenhouses, managed by Sky Vegetables

Arbor House, The Bronx NYC, Image c/o Blue Sea Development