The Currie Commons housing development under construction in the Harrison neighborhood of Minneapolis, Minnesota, US, on Thursday, July 20, 2023.
Ben Brewer | Bloomberg | Getty Images
It’s hard to find an affordable home in the United States these days. Even though the average 30-year fixed mortgage is down about a full percentage point over the last year, the median sale price for an existing home is up 3.1%, according to the National Association of Realtors.
But a program in Minnesota might hold one of the keys to fixing the problem, even though it has faced a fair share of controversy.
In 2019, Minneapolis became the first major U.S. city to end single-family exclusive zoning, opening the door for developers to build multifamily buildings on lots where a single-family home used to be. Through a plan known as Minneapolis 2040, the city invited developers to mix up the types of projects across different neighborhoods, including units specifically for affordable housing.
The plan included …