Brooklyn Park to Explore Affordable Housing
Brooklyn Park is discussing how to keep affordable housing options in the city. The Economic Development Authority unanimously recommended approval this week to develop a new program that would try to preserve affordable housing. Brooklyn Park, like the rest of the metro area, has seen housing prices grow.
The Naturally Occurring Affordable Housing program would work with developers and individuals on acquiring and rehabilitating rental properties. The housing would then rent for no more than 60 percent of the area’s median income. That means a tenant would pay around $1,400 a month, including utilities, for a one bedroom unit.