The development process

Aeon works with staff members from the neighborhood, city, state, federal, and foundations and hires realtors, appraisers, surveyors, environmental firms, marketing firms, market consultants, planners, architects, engineers, attorneys, contractors, sub-contractors, and more. Proposals are presented to neighborhoods, city councils, state agencies, and foundations. Each proposal is reviewed, amended, and reshaped many times. 

The special challenges of producing housing that aims to serve people earning low and moderate incomes include gaining public and political support, securing appropriate financing, and coordinating a myriad of legal and technical details.

Areas of focus

Aeon's housing development services focus in two main areas.

Developing new housing

Aeon constructs new buildings in both suburban and urban areas. East Village is an example of new construction in an urban environment. Aeon also performs total rehabilitations of existing buildings, such as the recent rehabilitation of the former St. Barnabas Hospital building to create St. Barnabas Apartments. Clover Field Marketplace is an example of new construction in a suburban setting.

Preserving and stabilizing existing housing

Twin Cities suburbs are home to a number of poorly functioning affordable apartment buildings. They may be suffering socially (possibly because of poor original design) or economically. These "problem properties" can drain a community's resources. Often, a community attempts several remedies without success. 

Aeon offers an alternative to demolishing problem properties, helping to preserve housing options for people with low or moderate incomes. Aeon fixes design flaws, stabilizes the property financially, and brings in quality property management services to make the property into a community asset. Pine Cliff in Minneapolis is an example of fixing a problem property to preserve existing affordable housing.

The Supportive Housing Initiative 

Aeon's Supportive Housing Initiative recognizes the continued, urgent need for housing with supportive services. Aeon's success with supportive housing includes apartments for homeless youth (a partnership with YouthLink), apartments for formerly homeless people with chemical dependency issues (a partnership with RS Eden), and more. Aeon's supportive housing has helped countless residents rebuild their lives.

Though supportive housing remains a critical need, it is challenging to develop for two reasons. First, it is difficult to site. Second, because of low resident incomes and higher operating costs, it is challenging to finance. Aeon has obtained funding from as many as 40 different sources for a single supportive housing development. 

Aeon's new Supportive Housing Initiative focuses energy on creating the partnerships that make supportive housing possible.