In Duluth, many businesses have struggled to attract and keep employees due to a severe housing shortage. To address this issue, local businesses joined forces to form the Northland Housing Partners (NHP). This group is dedicated to creating more housing options in the region, helping both current and future residents find affordable and suitable places to live.
First Housing Development Launches in West Duluth
The Northland Housing Partners recently celebrated their first major project in the RiverWest Development located in West Duluth. This development includes 20 newly built single-family homes for sale, adding to the existing vacation homes in the community. The houses are open to anyone interested in buying, with prices set by RiverWest developers and their partnered real estate agents.
This project marks a significant step forward in addressing the local housing shortage. By creating more permanent housing options, the initiative provides stability for the growing workforce and their families.
NHP’s Role in Funding Housing Projects
The Northland Housing Partners played a critical role in making the RiverWest project possible by offering a financial “gap loan.” This type of loan helps cover any funding shortfall that developers face, ensuring projects can move forward. Businesses and charitable foundations that invest in NHP’s efforts will see returns on their contributions, making it a mutually beneficial arrangement.
One major employer in Duluth has already invested heavily in NHP, contributing $3 million to the initiative so far. This Duluth-based employer has committed to a total of $10 million to fund future projects aimed at providing a variety of housing options. Their leadership has inspired other businesses in Duluth to consider similar contributions.
Housing to Match a Diverse Workforce
The housing being developed through NHP in Duluth is intentionally diverse to meet the needs of the community’s varied workforce. Some projects will include single-family homes like those in RiverWest, while others will focus on multi-family housing such as apartments. The goal is to ensure there are options in Duluth for individuals and families at different stages of life and income levels.
NHP understands that the workforce is made up of people with different needs. From young professionals looking for apartments to families seeking spacious homes, the organization aims to create housing solutions that fit everyone.
Impact on the Local Housing Market
The RiverWest Development is already making a noticeable impact. Of the 20 new homes built, seven have been sold, and interest continues to grow. This development is also helping to free up existing housing in the area. For example, when someone moves into a new home or apartment, their previous residence often becomes available, creating more opportunities for others.
This chain reaction is critical for a healthy housing market. As housing availability increases, more people will be able to find places to live, whether they are moving to Duluth for work or upgrading to a new home within the city.
Building a Sustainable Future for Duluth
NHP’s ultimate goal is to create a balanced housing system that supports both economic growth and community well-being. By filling the gaps in housing development, they aim to ensure Duluth remains an attractive place for businesses and employees alike. Leaders involved with NHP emphasize the importance of housing as part of a thriving, sustainable community.
While the RiverWest Development is a strong start, the work of NHP is far from over. More projects are planned, including additional single-family homes and apartments, to address the ongoing demand for housing. With continued investment and collaboration, Duluth is taking big steps toward solving its housing crisis and securing a prosperous future for all.
