Funding sought for housing project in Olmsted County
Rochester, MN (KROC-AM News) – Olmsted County has continued its efforts to bring more affordable housing to the area.
The county submitted a funding application Thursday to Minnesota Housing for Mayowood II Senior Apartments. The three-story building is expected to cost $11.3 million and would be built at 1001 Mayowood Road SW in Rochester.
The complex would be adjacent to the Mayowood Apartments and would provide 36 housing units for low-income seniors: 18 units for households at or below 50% of the region’s median income, and 18 units at or below 30% of the region’s median income.
In June, the Olmsted County Board of Commissioners cleared a purchase agreement allowing the Olmsted County Housing and Redevelopment Authority to purchase the county-owned land on Mayowood Road for $1.
The city of Rochester also agreed to waive nearly $235,000 in municipal fees.
“Affordable housing for seniors living on Social Security is an important need in our community. The Mayowood II project will help fill that need,” said Olmsted County Housing Manager Dave Dunn.
“This is truly a community project,” said Olmsted County Board of Commissioners Chairman Mark Thein. “We have received financial support from the Coalition for Rochester Area Housing, Olmsted County HRA and the City of Rochester. We hope the project will receive funding from Minnesota Housing so that we can continue to move this project forward.
Final funding decisions for Minnesota Housing will be made in December. If funding is secured, construction of Mayowood II could begin in the fall of 2023.
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