Rochester housing summit addresses 18,000 unit housing demand
ROCHESTER, Minn. (KTTC) – Community leaders and local developers are coming together to address Rochester’s housing needs.
In partnership with Olmsted County and the City of Rochester, Destination Medical Center (DMC) organized the summit to help developers and investment community lenders understand our city’s housing needs.
Currently, Rochester has an 18,000 unit housing demand. That’s a demand for market houses, affordable housing and senior living facilities.
There are several financial resources available for housing developers to establish housing to meet the city’s demands.
“The DMC can provide public infrastructure funds for projects downtown. The city has a number of financial tools available like tax-increment financing among others. The county talked about some of the ways that they develop and participate in housing. The housing coalition really shared the desire to be the front door for any housing project discussion,” DMC Housing & Sustainability Director Kevin Bright said.
All of the departments and organizations at the summit meet on a monthly basis to pool their resources together for interested developers.
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