Maximizing Assets to Help People Thrive

PPL recently renovated and remodeled 37 units in three rental buildings, located in St. Paul’s Summit-University neighborhood.

Capital improvements raise curb appeal and quality of life in a St. Paul neighborhood

Changes to one, 13-unit building were designed in conjunction with Guild Incorporated, a health and human services organization. This building, Delancey Apartments, was made to be suitable for families and individuals who have experienced long-term homelessness and who have a health diagnosis that requires support services. PPL is the owner and property manager; mental health services are provided by Guild.

All three buildings have long been part of PPL’s portfolio of affordable rental housing, which numbers nearly 900 units across the metro area. Residents of neighboring buildings, called Selbystone Court, qualify for PPL services that include free after-school and summer youth programming, and lifestyle workshops and services for adults.

The capital improvements for each building included a new roof, windows, landscaping, flooring, kitchen, bath and energy efficiency improvements, and mechanical, electrical, and plumbing upgrades. Funding was provided by the City of St. Paul, Minnesota Housing, and the House of Hope Presbyterian Church.

Moving forward with Foreclosure Recovery Plan

The City of Minneapolis has projected 3,000 homes or apartments will be foreclosed in 2009, matching the number in 2008. The foreclosure crisis has had a detrimental impact on neighborhoods where PPL has invested in people and real estate over the years, but help is on the way.

Many foreclosed structures are multi-family rental, currently condemned and boarded, or registered as vacant. PPL is playing a role in the City’s Foreclosure Recovery Plan, an effort to turn these properties around quickly, from being a drag on property values and quality of life to becoming assets for families in need of affordable housing.

Initially, PPL is working to acquire up to six, two-or-four-unit, foreclosed buildings in north and south Minneapolis. Properties acquired will be renovated and then managed by PPL as quality affordable housing.

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