Home Ownership Program For Equity (HOPE)

Golden Valley's Home Ownership Program for Equity (HOPE) makes city-owned vacant property available for the development of housing for affordable and equitable homeownership. The goal is to help reduce racial disparity in homeownership, build wealth, provide long-term affordability, and support Disadvantaged Business Enterprises (owned, operated, employed, contracted, subcontracted). 

Through its Public Land Disposition Policy, the City provides a land write-down as an incentive for development of homes affordable at less than 115 percent of Area Median Income (AMI), with a priority for affordability at 80 percent or 60 percent of AMI. Priority is given to proposals from organizations with demonstrated success in building relationships of trust with Black, Indigenous, and people of color and in serving first generation homebuyers.

Income Limits For Buyers

(for owner-occupied housing)

Percentage of 
Area Medium Income (AMI)
Income Limit
50% $59,100
60% $71,000
80% $94,600
100% $118,200
115% $136,000


HOPE Properties For Development 2023-2024

  1. 2415 Douglas Drive
  • Square feet: 22,6562415 Douglas Dr N Opens in new window
  • Zoned R-2, Moderate Density Residential
  • Supports single-family, duplex, rowhouse, residential facility
  • Subdividable for two single family homes
  • May be suitable for two to four town homes or row homes (24-foot width requirement for row homes)
  • City sidewalk may require ROW dedication/easement
  1. 1605 Douglas Drive
  1. 208 Meander Road
  1. 4707 Circle Down

Funding Priorities & Project Requirements

Funded projects must result in homes that:

  • are residential in nature and address the housing needs of underserved populations 
  • are occupied by eligible homebuyers or homeowners and provide long-term housing affordability
  • are affordable to the local workforce and proximate to jobs, transportation, schools, and services 
  • reduce racial disparities in homeownership and build wealth and equity
  • leverage for other financial and in-kind investments

Project Selection Standards

To be considered for funding, applicants must also:

  • demonstrate project feasibility regarding economic viability
  • demonstrate organizational capacity to successfully complete housing projects
  • address Golden Valley's defined community need for affordable home ownership opportunity
  • feature high-quality construction and universal design
  • meet code compliance and visitability and/or accessibility criteria
  • demonstrate energy efficiency (Minnesota Overlay of Green Communities Criteria and Department of Energy Zero Energy Ready Homes Program)
  • incorporate fair housing and affirmative marketing
  • meet reporting and compliance requirements