Affordable Housing

Aeon affordable housing is meeting a critical need

Since 1986, Aeon has built high-quality affordable housing in the Minneapolis and St. Paul area. Today we manage 40 properties serving more than 4,500 individuals. Many households are cost-burdened, paying 30% or more of their income for housing. When housing costs exceed this threshold, it often forces families to cut back on other necessities such as food, heat, or health care.

Minnesota housing statistics:

  • Minnesota is currently the least affordable state for renters in the Midwest.
  • In 2011, rental rates in the Metro area increased as much as 4% over the previous year.
  • Between 2001 and 2011, the number of renters earning $15,000 or less grew by 2.2 million in the U.S. Meanwhile, the number of quality homes affordable for these incomes decreased by nearly 500,000 over the same period.

In a healthy market, a diverse supply of housing is available to meet the needs of families and individuals at all income levels. But without access to affordable homes, they are often just one unexpected financial emergency away from homelessness.

As Aeon creates affordable and low-income housing, it also invests millions of dollars in under-capitalized neighborhoods and transforms blighted areas into vibrant places to live and work. Our efforts reinforce our mission and vision of creating and sustaining quality affordable housing where lives connect while meeting critical need of strengthening lives and communities.

Set and achieve high quality goals and standards

“Doing it better” has always been part of our culture, even though the road from “good” to “excellent” is often the toughest. Financial strength and visionary design continue to distinguish our work. Architects know we’ll meet their initial designs with a hundred ideas for improvements and they’ve come to expect nothing less.

Excellence in affordable housing also means going beyond the bricks and mortar to support residents and promote successful residency. Learn more about these efforts by visiting Aeon’s blog.