The Family Housing Fund (the Fund) was created in 1980 by the cities of Minneapolis and Saint Paul and The McKnight Foundation to provide private financial support for affordable rental housing and homeownership opportunities for families in the two cities. Since that time, the Fund has gradually expanded its work to address the community's continually changing and growing housing needs. For example, in 1997, the Fund expanded its service area to include the entire seven-county metropolitan area in order to meet the growing need for suburban affordable housing.
The Fund acts as an intermediary organization that provides support for affordable housing in the Twin Cities metropolitan area. As such, the Fund partners with nonprofit housing providers, federal, state, and local government agencies, foundations and corporations, housing and mortgage industry partners, community leaders, academic and public policy institutions, and others to bring collaborative approaches to complex housing problems. The Fund plays three primary roles in the provision of affordable housing.
As a funder, it raises money from philanthropic organizations and uses the funds to make grants and loans toward the creation and preservation of affordable housing. As a funder, convener, educator, the Fund brings together individuals and organizations from across private, public and nonprofit sectors to develop ways to meet the region's affordable housing needs. As an educator, the Fund researches affordable housing issues and provides information to community leaders and the public about affordable housing needs.
The Family Housing Fund divides its work into four main program areas: Home Ownership, Rental Housing, Supportive Housing, and Research and Public Education. Since 1980, Family Housing Fund's investments of $125 million have helped finance 26,400 units of affordable housing and leveraged $1.8 billion for affordable housing from government, private lenders, and contributors.