Friday, January 15, 2016

Good News for the Day

About six months ago, I wrote about a St. Paul high rise called Como by the Lake, home to a hundred low-income seniors who have Section 8 vouchers. The Section 8 contract was running out and the absentee owner planned to sell the building. Everyone assumed it would go to someone who wouldn't take vouchers and would renovate and jack up the rents, as is happening in another local case.

Well, for at least once, that's not going to happen, according to a story in today's Pioneer Press. Como by the Lake is being bought by Aeon, one of our larger nonprofit community development corporations. They're paying $8.5 million for the building. Aeon is highly regarded for both its affordable housing development work and its building management.

Almost better is the news that the St. Paul City Council member from the area, Amy Brendmoen, chairs the city's Housing Redevelopment Authority and she promises to "track down other affordable housing Section 8 properties that are close to renewal and approach owners in an effort to get them to stay with the program."

1 comment:

Gina said...

Wow, that's rare indeed. Considering what Linden Hills has been going through the last few years, we could use some low income housing in this area rather than another upscale condo building.