June 26, 2025 Bloomington Planning Commission Meeting

Thursday, June 26, 2025

Annual Housing Report and HOA Study

Review of Bloomington demographics and housing affordability

Analysis of 2024 housing accomplishments

Impact of interest rates and construction costs on development

Discussion of housing disparities and cost burdens

Areas of Interest (5)

Bloomington's median rent is now rivaling subsidized 60% AMI units, challenging the feasibility of new affordable developments.
Data indicates a widening housing affordability gap: 49% of Bloomington renters are cost-burdened.
City officials grapple with long-term housing strategy as market-rate development costs remain elevated post-pandemic.
Persistent homeownership disparities for BIPOC residents remain despite long-standing local assistance programs.
Construction cost increases and high interest rates are stalling new residential projects in Bloomington.

Notable Quotes (2)

A two-bed that's affordable to a household earning 100% AMI for the 13 county metro that unit is no longer affordable to the Bloomington median income household.
— Kenny Niemeyer

Housing AffordabilityDescribing the economic inversion point in local housing.

If you don't have a home or any asset you're going to lack due to inflation. So I guess my question is long term, how does a city plan to address that issue?
— Commissioner Issa

Wealth BuildingQuestioning the long-term sustainability of current housing policy.

People (4)

Natalie NavarroPlanner

Presented the 2024 Housing Report and demographic data.

Kenny NiemeyerHousing Development Specialist

Explained Area Median Income (AMI) calculations and development costs.

1 quote

“Bloomington's median rent is now lower than a 60% AMI two-bed for the metropolitan area.”

Discussing the inversion point where market rate rent is near affordable housing thresholds.

Commissioner IssaCommissioner

Inquired about housing disparities and the macro-economic impact on affordability.

1 quote

“Will we just continue to have these programs where we fund like down payment things... basically putting a band-aid on the broader issue?”

Questioning if current housing programs address the root causes of rising costs.

Commissioner CunninghamCommissioner

Requested clarification on fee-in-lieu policies for market-rate housing developments.

Places Mentioned

Bloomington, MinnesotaHennepin CountyMinneapolis-St. Paul-Bloomington Metro AreaSouth LoopAmerican Square

Events & Meetings (1)

2024 City Council/Planning Commission Study Session

Ordinances & Resolutions (1)

Common Interest Community Ombudsman

State legislation establishing an ombudsman within the Department of Commerce to resolve disputes between unit owners and HOAs.

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