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Twin Cities awarded $16 million to support transit-oriented affordable housing and small business

Late last month, Minneapolis and St. Paul received a $16 million grant from the Living Cities Integration Initiative, a New York-based philanthropic organization, to boost affordable housing and small business, particular around transit areas, the Minneapolis/St. Paul Business Journal reports.  

The mayors from both cities traveled to Detroit on Oct. 27 to accept the grant. According to the Business Journal, the money will flow especially to areas along the planned Central Corridor Light Rail Transit Line.

The grant will help create or preserve between 400 and 600 affordable housing units while an estimated 100 businesses will receive support for everything from marketing to fašade improvements, including loans to offset hardships imposed by transit construction, the article states. 
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