University Alliance Home Buyer Assistance Program

The University District Partnership Alliance has announced a new homebuyer assistance program aimed at encouraging owner-occupied homeownership in five University of Minnesota neighborhoods. The University Alliance Home Buyer Assistance program offers loans of $10,000 (forgivable over five years) for people who want to buy and live in homes in the neighborhoods of Cedar-Riverside, Marcy Homes, Prospect Park, SE Como, and University..

All area realtors are invited to a meeting about this on held January 16, 1-3 pm at Van Cleve Park. The program offers loans to new buyers in the Cedar Riverside, Southeast Como and Prospect neighborhoods. For more information contact the Greater Metropolitan Housing Corporation Housing Resource Center, at 612-378-7985 or visit here.

The University Alliance was formed in 2007, and it received $750,000 in funding support by the Minnesota Legislature to facilitate and manage projects with the University, City of Minneapolis and other public and private entities that are working to maintain the University neighborhoods as viable places to study, research and live. More information on the University District Partnership Alliance is available at www.community.umn.edu/alliance.

If you have additional questions or to apply for a loan please contact the Greater Metropolitan Housing Corporation, NE Housing Resource Center,(612) 378-7985, or the City of Minneapolis Community Planning and Economic Development staff Earl Pettiford, 612-673-5231 E-Mail: Earl.Pettiford@ci.minneapolis.mn.us