Aeon's Blog

MP3 Upgrade Marks 30 Years of Housing Preservation

When Aeon hosted a grand reopening on June 8th of the 10 affordable housing properties known as the Minneapolis Portfolio Project (MP3), it marked a 30 year milestone of providing quality affordable housing to the Twin Cities community.
These buildings, several of which have national historic architectural significance, were some of the very first buildings Aeon managed when the nonprofit launched three decades ago.
For resident Robin Hassell, of the Paige Hall Apartments, the $56 million, 7-month preservation effort means a healthy, sustainable home that provides safety, comfort and community.
“Aeon gives people a fresh start; a second chance at life,” said Hassell. “We found Aeon with the help of a social worker. Getting our own place is the best decision we had made in years. I am much happier being a resident of Paige Hall. I love the area and the people I live around. We have met some really good people, staff and residents.”
Improvements to the buildings and the 580 units reserved for low-income residents included new windows, community rooms, heating systems, plumbing, roof repairs, flooring, bathroom updates and new mechanical systems.
The MP3 preservation was made possible by support from the Minnesota Housing Finance
Agency, the City of Minneapolis, Hennepin County, the Family Housing Fund, the U.S. Dept. of
Housing and Urban Development, Local Initiatives Support Corp., Westminster Presbyterian
Church, the MacArthur Foundation, Enterprise Community Partners, Dougherty Funding and
Dougherty Mortgage.

See related media coverage of the MP3 preservation project here:
• Finance & Commerce
 The Downtown Journal