Minnetonka Homes Project
Minnetonka Homes Project
Property Address: 5432 Rowland Rd, Minnetonka
Partners Names: Amani Construction & Development LLC (Jeniffer Kuria, developer)
Project Overview
The property was publicly owned by the City of Minnetonka since 1984 and was sold to Amani for $1.00 as part of the City’s affordable housing strategy, similar to a land trust model but without shared equity; instead, a 99-year covenant ensures the home remains perpetually affordable to households at or below 80% AMI. The project will receive $200,000 in funding from Hennepin County’s Affordable Housing RFP, $228,634 from the Metropolitan Council’s LHIA program, and $360,746 of which the City will provide through a land value write-down and Minnetonka Affordable Housing Trust Fund. This project not only delivers deeply affordable homeownership but also aligns with the Land Bank’s goal to expand access to permanently affordable housing across the broader 7-county metro area, beyond Minneapolis and St. Paul.
Land Bank Twin Cities Role
Construction financing, technical assistance
Partner Role
Amani was selected by the City of Minnetonka to develop new construction twin homes on a lot formerly owned by the City.
Outcome
Two new units of affordable single-family homes are completed and under contract with buyers with household incomes below 80% AMI, with both closings scheduled for September.
