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Ahmed Elbatrawy's Blog

By Ahmed Elbatrawy | Agent in Edina, MN

New Minnesota Home Development Projects Get the Green Light! by Ahmed ELBATRAWY

Great news coming from Washington DC direct to Minnesota:  the Federal Government has just announced a list of states that will be receiving federal funding to jumpstart new construction projects.  Minnesota is one of the 26 lucky states that was chosen to receive part of the initial funding.

With the slowing of the US economy taking a heavy tolll on construction starts and developments, particularly in the residential market, the American Recovery and Reinvestment Act of 2009 has just allotted funding to 26 states to increase availability of "affordable housing options for low-income families at a time when those options are needed more than ever."

Minnesota was one of the first states chosen to receive the funding, and you can expect new housing developments to be started in the very near future.  The Act even gives greater preference to those projects that start in the immediately!  With over $1 billion pledged to support these new housing constructions throughout the country, US HUS Secretary Shaun Donovan provided further explanation by clarifying, "the purpose of the American Recovery and Reinvestment Act of 2009 is to jumpstart the nation's ailing economy, with a primar focus on creaing and saving jobs in the near term."  So, the news for Minnesota is two-fold:
  1. Additional Minnesota homes will be built and become available to the public who needs them most.
  2. The new home developments will create new jobs for residents of Minnesota who have been hit by the troubled economy.
If you have questions regarding this great news for Minnesota residents, or any real estate questions in general, please do not hesitate to contact me.  One of the first steps to succesfully weathering this economy is to stay informed and up-to-date on all of the programs available in Minnesota!

Make it a great day!

Ahmed Elbatrawy, REALTOR
Re/Max Associates Plus
7300 France Avenue
Minneapolis, MN 55435
Tel (952) 915-2220
Web-site www.RemaxSearch.com

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