Case Study: Chasewood Townhomes
Development of affordable housing doesn’t stop once the last brick has been set in place. The ability to keep units affordable for the long term can be a struggle even the largest government agencies can’t successfully win.
Dakota County Community Development Agency has found an innovative way of consistently keeping its rents lower than the all others across the state. By using cross subsidies from the state, Family Housing Fund, Metropolitan Council, and other local resources the CDA is able to apply that funding against the rents of its lower income residents.
Where most affordable housing developments are targeted around the 40-50 percent of the area median income (AMI), Dakota County, with the use of cross-subsidies, is able to offer rents at 35 percent to 36 percent of the AMI.