Minot’s City Council voted to advance Blu on Broadway. It’s a low-to-moderate-income housing project that will add more than 40 apartment units to South Broadway.
The city is using less than $5 million of federal grant money to guarantee affordable housing for the next 20 years.
The developer, Epic Companies, is investing another $5 million to the project for a total project cost of $10 million.
According to the Minot Housing Authority, right now there are 220 people on a waiting list for low-to-moderate-income housing.
“If you’ve been in this community for the last decade, you’ve noticed that there’s been a need for low-to-moderate-income housing. In fact, we’ve got this NDR federal grant because the federal government noticed that we needed more low-to-moderate income housing. There’s a clear need out there, it’s just a matter of finding the right partners to make sure that we utilize those funds in the most responsible manner and effective manner,” said Derek Hackett, public information officer.
The next step is an environmental review of the property to make sure it’s safe to build on