MINNEAPOLIS, Minn. - For more than 10 years, Gwen walked up the same steps, unlocked the same front door and treated the house on Penn Avenue North as her own. She rented it. She cared for it.
And long before she ever imagined becoming a homeowner, she used to walk past the house and quietly tell herself, “One day, I am going to buy that home.”
“I used to just sit here and stare at this house,” Gwen said. “I thought it was a beautiful house. I’m gonna own it one day.”
She didn’t know how. She didn’t know when. But she felt it. She held onto that vision.
Before moving to the 600 block of Penn Avenue North, Gwen was living just a few blocks away when her rental property was sold.
“I needed to find a place in a hurry for my family and for my mom, who was living with me at the time,” she said. “I just hopped on Zillow and saw this place was open. It felt like it was a blessing and meant to be.”
Today, at 62 years old, Gwen is officially a first-time homeowner.
“It feels like a miracle,” she said. “I always believed this home was meant for me.”
Once Gwen was given the opportunity to buy the home, her journey began. It wasn’t easy. She was denied by a lender on her first attempt and needed time to rebuild, save, and get mortgage ready. Land Bank Twin Cities made that time possible.
Most sellers cannot wait while a renter works through the homebuying process. The traditional market moves quickly and favors buyers who can close immediately. Because Land Bank held the property and was committed to a community-aligned outcome, staff stepped in to support her.
Land Bank connected Gwen with Lea Awoudi at Build Wealth Minnesota. Awoudi worked with Gwen to strengthen her application, access down payment assistance funds, and create a clear path to ownership. Gwen stayed focused, saved what she needed, and followed every step. “If there is a will, there is a way,” Awoudi said with a huge smile on her face.
With time, support, and a trusted partner guiding her, Gwen ultimately qualified to purchase the home. As part of Land Bank’s standard process, the property received a fair, independent appraisal. Consistent with our mission, Gwen was given the opportunity to purchase the home at a price that made ownership truly attainable.
On closing day, she summed it up simply: “It’s a blessing. What else can I say?” Then she added, “I never thought I’d be able to buy a home. I got my chance and look at me now.”
Her real estate agent, Seanne Thomas of ABC Realty Twin Cities, called the moment extraordinary. “I’ve been doing this for 24 years and I’ve never seen this before,” Thomas said. “Land Bank is a socially conscious organization. This allowed Gwen to go from renting that home to owning it.”
Aarica Coleman, Land Bank’s President and CEO, said Gwen’s journey illustrates the core purpose of the organization’s work. “When we talk about buying time, this is exactly what we mean,” Coleman said. “The market would not have waited for Gwen. But we could. And because of that, she now owns a home that will support her family for generations.”
For Gwen, owning a home is more than a milestone. It creates stability she has never had before and provides an asset she can pass on to her family. “This is something I can leave behind,” she said. “That means everything to me.”
Land Bank originally acquired properties in the area due to planning around the proposed Metro Transit’s Blue Line Extension. As the project evolved, some holdings no longer served their original strategic purpose. When the time came for disposition, Gwen was given the first opportunity to purchase. Because Land Bank was able to wait, she had the time she needed to qualify.
Gwen’s story reflects what is possible when properties are held long enough to create real options for residents. Because this home remained in community-aligned hands, it avoided speculative turnover and stayed stable for years. That stability protected Gwen from experiencing another rushed move and opened the door to long-term homeownership.
We Buy Time. We Land Bank. We Build Solutions.
In the News
From Renter to First-Time Homebuyer (KARE 11)
A recent KARE 11 story highlighted how mission-driven organizations across the Twin Cities are helping longtime renters become homeowners, underscoring the role of community lenders and partners who help residents navigate a housing market that often moves faster than families can keep up.
