2025 Annual Report
“I am grateful for the team and Board who make this work possible.”
Letter from the President
2025 was a demanding year for development across the region. Capital tightened, timelines stretched, and the work required greater coordination, patience, and precision. The environment in which we worked throughout the year required sound judgement, sequencing, and the ability to stay the course. That is where Land Bank Twin Cities operates best.This is what it looks like in practice. We Buy Time. We Land Bank. We Build Solutions.
In my first full year as President and CEO, my focus was execution, continuity, and accountability. That focus was tested and reinforced throughout 2025. Time, flexible capital, and the ability to operate through complexity without losing the outcome defined the work. That is the role Land Bank Twin Cities continues to hold across the region, and the standard we are maintaining. In 2026, conditions remain complex. Our foundation is strong, our team is steady, and our commitment to economic mobility and community stewardship is clear. We are operating within the current environment, positioning work, aligning capital, and moving with intention where others cannot. This is how we deliver.
Impact at a Glance.
Land Bank Twin Cities operates at the intersection of land and capital, creating the conditions for development to move forward. In 2025, that work translated into measurable economic impact. From the total value of property land banked to the capital deployed and returned, each dollar reflects how our model reduces risk, aligns partners, and unlocks projects that would not otherwise happen. These numbers show more than activity. They demonstrate how strategic acquisition, land stewardship, and lending work together to generate real value across the system.
STRATEGIC ACQUISITIONS
COMMUNITY LENDING
From Empty Space to Lasting Stability
A long-vacant office building in downtown Minneapolis is now home to 59 deeply affordable housing units for people exiting homelessness. With support from Land Bank Twin Cities, the project shows how strategic acquisition can turn vacancy into long-term housing stability.
From Hedge Fund to Homeownership
In North Minneapolis, homes once owned by hedge funds are being reclaimed and returned to community ownership. Through a city partnership and targeted investment, Land Bank Twin Cities is helping rebuild pathways to affordable homeownership.
How Time Made Room for 30,000 Feet
A $1.1 million investment by Land Bank Twin Cities transformed a vacant Arcade Street property into a permanent home for 30,000 Feet. Opened in 2025, the space now serves as a youth-centered hub on St. Paul’s East Side.
Breaking Down Silos. Building What’s Next.
A former industrial site in Northeast Minneapolis is now home to more than 160 affordable housing units after years of strategic intervention by Land Bank Twin Cities. By acquiring, holding, and ultimately passing value to the right developer, Land Bank helped turn a complex site into a long-term community asset.
We Bought Time. They Built Ownership.
In South Minneapolis, 49 families went from tenants to owners through one of the city’s first large-scale cooperative housing conversions. With support from Land Bank Twin Cities, the Corcoran Five shows how acquisition and patient capital can create a pathway to lasting community ownership.
A New Stage on Raymond Avenue
A former industrial site on Raymond Avenue is now a permanent home for creativity in St. Paul, thanks to a strategic partnership led by Land Bank Twin Cities. By acquiring and holding the property, Land Bank created the time needed for the Playwrights’ Center to deliver an $18 million redevelopment that will serve artists and community for years to come.
Our Operating Framework
Land Bank Twin Cities operates through three integrated pillars:
Strategic Acquisition
We acquire land and property at moments when speed matters, buying time to prevent loss of community control and preserve future development options for mission-aligned developers.Community Lending
We provide flexible, mission-aligned financing to developers and partners facing structural barriers to conventional capital, unlocking projects that would otherwise stall and building the capacity of emerging developers historically excluded from real estate markets.Land Banking and Stewardship
We hold land with intention. By managing and stewarding properties over time, we absorb the timing pressure and market risk that forces premature decisions giving communities, partners, and projects the space to move towards the right outcomes. The result is land that stays in the mission aligned hands, disposition strategies grounded in community priorities, and durable assets that build lasting value for people and places we serve.Our Role
We are a social impact real estate and finance intermediary that aligns land, capital, and community priorities to prevent displacement, expand equitable ownership, and accelerate wealth building across the Twin Cities seven county metropolitan region. Our role is to strengthen systems where timing, risk, or rigidity creates gaps that cost communities their land or project. At the core of our work is a simple approach: We Buy Time. We Land Bank. We Build Solutions.Financial Overview.
In 2025, we generated and deployed capital across acquisition, lending, and land stewardship while maintaining strong operational infrastructure. The financials provide a transparent view of our revenue, investments, expenses, and audited performance.| REVENUE | 2024 | 2025 |
| Contributions & Grants | $382,815 | $986,800 |
| Program Income | $3,236,563 | $3,525,891 |
| Interest & Fees | $1,611,409 | $765,431 |
| Total Revenue | $5,230,787 | $4,291,322 |
| EXPENSES | 2024 | 2025 |
| Program Services | $5,452,347 | $4,287,651 |
| Management / General | $1,107,953 | $797,055 |
| Fundraising | $69,041 | $148,386 |
| Total Expenses | $6,629,341 | $5,233,092 |
“We step in at critical moments to stabilize properties and create time for partners to build the right solution."
Aarica L. Coleman President and CEO Land Bank Twin CitiesAcknowledgement and Gratitude.
Our work is made possible through strong partnerships and shared commitment. We are grateful to our public, private, and community partners who trust us to move projects forward and help shape lasting outcomes across the region. We thank our Board of Directors for their leadership, guidance, and stewardship, ensuring Land Bank Twin Cities operates with clarity, discipline, and accountability. We also recognize our staff, whose expertise, dedication, and persistence drive this work every day. Together, these contributions make our impact possible.2025 BOARD OF DIRECTORS
Libby Starling, Chair Federal Reserve Bank of Minneapolis
Karla Henderson, Vice Chair Project for Pride in Living
Robyn Bipes-Timm, Treasurer Twin Cities Habitat for Humanity
Kizzy Downie, Secretary Model Cities, Inc.
Barbara McCormick, Executive Committee
Allison Streich Carver County CDA
Amy McCulloch Twin Cities Local Initiatives Support Corporation
Council Member Cheniqua Johnson City of Saint Paul
Chris LaTondresse Beacon Interfaith Housing Collaborative
Elfric Porte II City of Minneapolis
Ellen Sahli Family Housing Fund
Gregory Frahm-Gilles Anoka County Regional Economic Development
Council Member Jason Chavez City of Minneapolis
Josh McFall Minnesota Realtors
Julie Siegert Scott County Community Development Agency
Commissioner Kevin Anderson Hennepin County
Commissioner Mai Chong Xiong Ramsey County
Melissa Taphorn Washington County Community Development Agency
Michael Krantz Metro Transit
