Minnesota Housing approves $41.75M NOAH slate; two Duluth buildings receive roughly $15.6M

Minnesota Housing Board of Directors has approved a slate of NOAH selections that will allocate $41,750,000 in state appropriations to preserve existing rental housing that is affordable without ongoing government subsidies. The board’s action, approved on January 22, 2026 and announced in a January 30 release, targets 11 developments across the state and is expected to help stabilize 1,013 homes for Minnesotans.

Locally, Duluth figures prominently. Faith Haven will receive $10,454,000 and S-Elect Apartments will receive $5,173,000, a combined allocation of $15,627,000. Bluffview Townhomes in Red Wing received $2,396,000 as part of the Greater Minnesota share. Minnesota Housing stated that funding supports developments in Greater Minnesota ($18.1 million) and in the Twin Cities metro ($23.7 million).

The NOAH program focuses on preserving older rental properties whose affordability stems from market conditions rather than government rent restrictions. Minnesota Housing explained that preserving those units “helps keep homes affordable, address aging building needs, and reduce the risk of displacement for residents when properties change hands or require major repairs.” The agency also detailed the selection process: Minnesota Housing issued the 2025 NOAH request for proposals on May 8, 2025, received 29 applications requesting more than $92 million, and after eligibility review, scoring, and feasibility review staff recommended 11 developments for further processing.

Finance & Commerce reported that Bloomington’s Blooming Meadows South received the largest single award in the slate at $16.7 million, and that five Minneapolis properties along with projects in Oakdale and St. Paul were among the Twin Cities selections. The money is intended to support “acquisition, rehabilitation and related costs” that will keep a property affordable while still improving conditions.

Minnesota Housing Commissioner Jennifer Leimaile Ho framed the board action in a stability context. “Preserving naturally occurring affordable housing is one of the most direct ways to protect affordability and strengthen community stability,” Ho said. “This investment helps ensure more Minnesotans can live and thrive in safe, stable homes—both in Greater Minnesota and in the Twin Cities metro.”

The selections are recommended awards pending the next administrative steps. Minnesota Housing cautioned that final awards are subject to underwriting, due diligence, and the NOAH Program Guide terms and conditions. That means local timelines for acquisition and rehabilitation, the length of affordability commitments, and tenant protections remain to be finalized as projects move through underwriting.

For St. Louis County renters and community leaders, the announced funding signals a concerted effort to keep existing rental units affordable and to fund necessary repairs. Faith Haven and S-Elect Apartments together represent a major infusion for Duluth rental housing, but residents should expect concrete timelines and tenant safeguards to be clarified as owners and Minnesota Housing complete due diligence and finalize awards.