Aeon (formerly Central Community Housing Trust) is an award-winning nonprofit developer of quality housing for the Twin Cities Metro Area, providing homes for more than 3,000 people annually. Its mission is to create and sustain quality affordable homes that strengthen lives and communities. Since its inception in1986, Aeon has built and renovated 1,705 units of housing.
- Aeon provides the following services:
- Housing Development: Renovating and constructing apartment buildings and town homes with a strong emphasis on quality, community participation, and people-centered design.
- Asset Management: Provide long-term sustainability planning, and work with professional property management companies for day-to-day management.
- Resident Connections: Helps residents create home by connecting them to each other and community resources.
- Property Management: Makes certain that Aeon’s values and high standards are reflected in the daily operations of each property, ensuring that properties are assets to residents and the greater community.
The 3,000 plus individuals who call Aeon's properties home include: childless, homeless adults; homeless youth (ages 16-20); very low-income working persons; very low and fixed-income persons; and very low-income families. In 2008 Aeon residents earned an average of $16,507 were 35% African-American, 30% African immigrants, 26% Caucasian, 2% Asian/Pacific Islanders, 2% Latino/Hispanic, 1% Native American, and 3% unknown/other.
Aeon provides homes for more than 3,000 people annually and has created 1,705 units of housing. Aeon's property portfolio consists of 28 sites throughout the Twin Cities Metro region. In 2007, Aeon completed Ripley Gardens in north Minneapolis, which includes 52 units of mixed income housing; approximately half are affordable to households earning 30% to 50% AMI and half are market rate. In 2008, Ripley Gardens won an award for "Top Project" from Finance and Commerce. In partnership with Habitat for Humanity, 8 homeownership townhomes were built on the site and affordable to households earning 60% or less AMI. Property is currently at 100% occupancy and includes 4 units for formerly homeless adults.
The housing market crash left many families in dire situations. Tonya, a single mother with multiple sclerosis, was looking forward to a successful future until she had to use 90% of her income to pay for her mortgage. She was forced to foreclose on her house and she and her 13-year old daughter MaryKate were without a home. Then Tonya’s fate turned around when she discovered Ripley Gardens, an Aeon property, in a magazine. Now she and her daughter live in an affordable apartment with good conditions. “It’s beautiful,” she says, “It’s clean, the buildings are in excellent shape, it’s in a good location and we feel safe here.” Full Story