Opening of Noble Apartments and Oxboro Heights in Bloomington expands affordable homeownership opportunities
On May 14, Bloomington Mayor Tim Busse and Councilmember Lona Dallessandro along with City of Bloomington Community Development staff were given a grand opening tour of the recently completed Noble Apartments, located at 8200 Humboldt Ave. S. With financial subsidy from the City made available through Bloomington ’s Opportunity Housing Ordinance, Noble Apartments provides 9% of its 149 units at rents affordable to households earning 50% of the area median income. A household of one with an annual income of $43,500 or less would be eligible to rent a studio apartment for $1,087 per month, including utilities.
“This is part of our effort to create housing in Bloomington that people can afford,” said Mayor Tim Busse. “Those living in Noble Apartments might be teachers, first-year firefighters, people working in the hospitality industry, to name a few. I believe in the notion that if you work in Bloomington, you should be able to live in Bloomington.
Noble Apartments was constructed by Enclave Companies. All 14 of the affordable units at Noble Apartments were quickly leased once the building started accepting applications.
“The speed at which the affordable units in Noble Apartments found tenants shows the importance of the need to create these housing opportunities,” said Housing Development Specialist Kenny Niemeyer. “The City continues to work in partnership with private and nonprofit housing developers and providers to create these opportunities in Bloomington.”
Another residential development, Oxboro Heights, opened recently and is 100% affordable with support from multiple sources, including the City of Bloomington.
Oxboro Heights, constructed by MWF Properties, is a five-story, 125-unit independent senior apartment building, located at 600 West 93rd Street. All of its units are affordable at income levels ranging from 30% to 70% AMI.
To help with this project, Bloomington’s Housing and Redevelopment Authority provided a $2.125 million loan from the City’s affordable housing trust fund. The funds generated in this tax increment district, will go toward paying that loan back which will ultimately help replenish Bloomington’s affordable housing trust fund.
“I want to thank the developer, MWF, for working closely with City staff and with its lending partner to bring this project from idea to reality,” Mayor Tim Busse said. “And I want to thank City staff for the great work they did on this .
The City of Bloomington celebrates the expansion of availability of housing opportunities across the income spectrum, toward its mission of cultivating an enduring and remarkable community where people want to be.”
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