Minneapolis grapples with affordable housing shortage

By Kim Hart - July 24, 2019 - Axios

Anne Mavity, Executive Director of Minnesota Housing Partnership (center), speaks at an Axios Expert Voices event in Minneapolis. Photo: Lucas Botz

Background: Eliminating single-family zoning was in part intended to erase a practice perpetuating racial segregation. Due to the zoning restrictions and a history of discriminatory lending practices, homeowners in the city are largely white.

Now, the share of affordable housing units continues to dwindle and homeownership — a primary way to build wealth — stays out of reach for many people of color.

By the numbers: In 1995, 31% of African Americans were homeowners in Minneapolis. By 2005, that had slipped to 29%, and in 2015 only 23% were homeowners, said Jeff Washburne, Executive Director of the City of Lakes Community Land Trust.

“What’s happening now is we can’t develop anywhere close to the affordability levels to serve, specifically, households of color,” Washburne said. "We've lost a ton of ground."

Link to full article here.