Aeon's developments are award-winning, multi-million dollar investments in our community. As one of Minnesota's largest developers of affordable housing, Aeon typically has eight to 12 projects in its development pipeline. Learn more about Aeon's current developments.
To create high-quality community assets, Aeon:
- manages development from feasibility through post-construction
- builds partnerships to understand the community's needs and goals
- gains public and political support from city councils and state agencies
- secures appropriate financing from a wide variety of public and private sources
- guides architects, engineers, contractors and others to ensure that the finished product will offer quality affordable homes
Aeon has several areas of focus and expertise:
Develops new rental homes
Aeon constructs new buildings in both suburban (Clover Field Marketplace) and urban areas (East Village). Aeon also completes total rehabilitations of existing buildings, such as the transformation of the former St. Barnabas Hospital to create St. Barnabas Apartments.
Preserves and stabilizes existing housing
The Twin Cities have many dysfunctional, outdated, poorly managed affordable apartment properties. These "problem properties" drain community resources. Aeon offers an alternative to demolition. Aeon renovates existing buildings, and fixes design flaws, to transform the property into a long-term community asset. Pine Cliff Apartments and the upcoming Sienna Green development are examples of Aeon fixing struggling properties to preserve existing affordable housing.
Creates homes for individuals who have been homeless
More than 13,000 Minnesotans are homeless, creating an urgent need for affordable homes with structured support. Aeon plays an active role in the State of Minnesota's efforts to end long-term homelessness. All of Aeon's newer developments have several units designated for formerly homeless individuals.
Though supportive housing remains a critical need, it is challenging to finance due to higher operating costs. Aeon creates partnerships that make supportive housing possible, including apartments for homeless youth (with YouthLink) and for formerly homeless adults with chemical dependency issues (with RS Eden). These partnerships – which offer support to increase self-sufficiency – have helped countless residents rebuild their lives.
Preserves historic buildings
Aeon has become a leader in historic preservation by restoring 12 historic buildings in accordance with the National Park Service and local historic preservation standards. Aeon transforms dilapidated historic buildings – many of which were slated for demolition – into quality affordable apartment homes that save our community's irreplaceable heritage. The historic Crane Ordway building sat vacant for decades before Aeon renovated it.
Incorporates green/sustainable design
Aeon uses materials with high energy efficiency and low environmental impact, and designs buildings with their life-cycles in mind. Aeon cleans up polluted areas and develops blighted and vacant lots, turning unstable urban sites into healthy places to live.
Ripley Gardens was a pilot project of Minnesota Green Communities, helping to create a green standard that all affordable housing developers in Minnesota must use. Ripley Gardens was recently honored as a national model for sustainable affordable housing. Aeon also is partnering with the University of Minnesota's Center for Sustainable Building Research and the Center for Energy and Environment to create a model for sustainably renovating aged housing stock.