Aeon Property Management
Aeon Property Management – Since 1986, Aeon has worked to serve the growing number of people in the Twin Cities who struggle to afford housing. Today, Aeon owns and manages 4,369 affordable apartments in the seven-county metro area of the Twin Cities. Aeon is home to approximately 9,000 residents each year.
Driven to do more every year, Aeon is leading the fight to preserve affordability in our strong real estate market. In the past few years alone, Aeon has created and preserved nearly 1,800 affordable homes in the Twin Cities region. Aeon is a leader in the preservation of “naturally occurring affordable housing” or NOAH, an effort focused on preventing the displacement of low-income residents and securing affordable housing for the future. This work is not supported by traditional affordable housing funding, so Aeon has worked to evolve our development strategies. We are leveraging non-traditional and out-of-state funding, attracting deeper commitment from a greater number of partners, and significantly increasing our organizational capabilities. In the coming years, we will continue to act boldly to meet the call of our community and we are already preparing to serve thousands of additional residents through acquisitions and new developments in the coming years.
Aeon Property Management
Aeon believes that the stability of a safe and secure home strengthens lives, communities and the region. We are committed to growing our impact each year through bold housing development, targeted resident supports, and strong property management.
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For CJ, finding a home was a constant struggle. In a span of just four years, she and her two children lost their home twice. The buildings they lived in were sold. Each time, CJ only had a month or two to find a new place to live. Later, slumlords and an abusive relationship wreaked havoc on her family again.
Although these setbacks felt immense, CJ did not have time to talk about her situation. She had to be healthy and find a new home. CJ found a home at Aeon’s Maryland Apartments. Ultimately, that meant you helped her find sanctuary and peace. Today, CJ says she is really happy.
“When I was shown my apartment at The Maryland, I cried. I thought, ‘I have a home now. No one will take it from me.'”
The provision of affordable housing can be a special development project because of the community support it entails and the needs of the neighbors it serves. Without communities that embrace affordable housing, many of Aeon’s neighbors struggle to find a stable place to live. Community support can come from individuals, local governments, banks and business partners that go beyond their traditional scope of work — such as Frerichs Construction. Frerichs has partnered with Aeon to create safe, stable and affordable homes in the Twin Cities area for nearly 15 years. Together, they celebrated the successful completion of the Minneapolis Preservation Portfolio Project (MP3) in 2016. The MP3 project consisted of 10 different buildings, most of which are located in Elliot Park in Minneapolis.
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More than 590 residents live around the 10 different MP3 buildings, their total average income is only $13,819 per year. 75 of the individuals living in the MP3 buildings have experienced homelessness. Some have spent years trying to find safe and stable housing; others dealt with disreputable slumlords and barely livable apartments in the past. But Frerichs helped Aeon to provide a home for these people. In addition, Frerichs sponsors Aeon’s annual fundraising breakfast, Beyond Bricks & Mortar, and consistently fills the tables at the event with new donors. The company has contributed more than half a million dollars to Aeon’s mission. Aeon and Frerichs have collaborated to make affordable housing and a sense of community possible for those in need. KUALA LUMPUR (May 23): Hong Leong Investment Bank (HLIB) research said that the inflationary environment combined with the a price-locking campaign will result in a reduction. in the margin of AEON Co (M) Bhd moving forward.
The research house said it cut its call on the retailer to “hold” with a lower target price of RM1.40 (from RM1.78) as it cut its FY22 forecast b ‘6.5% to account for margin challenges.
“AEON management shared that the group will carry out another anti-inflation campaign for key staples in order to capture customer retention.
“Despite the intention to preserve value for customers, we think this will put pressure on margins going forward,” she said.
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On property management services, HLIB added that with the group’s adoption of the commission rental structure as opposed to the traditional fixed rental structure, AEON had collected higher sales commissions as that tenants have improved their sales.
With this flexibility, AEON managed to retain more tenants and have a stable occupancy rate for its malls amid the challenging environment, said the research house.
Last week, AEON reported that its net profit grew to RM28.07 million for the first quarter ended March 31, 2022 (1QFY22) from RM22.03 million a year earlier.
At the time of writing on Monday (May 23), shares in AEON traded one sen or 0.66% lower at RM1.51, valuing the retailer at RM2.12 billion . Alan Arthur, president and CEO of — a nonprofit developer, owner and manager of affordable housing in the Twin Cities — announced today that he is stepping down from his role after more than three decades as a leader of the organization. Arthur will work closely with the Board and leadership team to guide through a thoughtful transition.
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“Leading the amazing team has been the privilege of my life. As the organization finalizes its strategic plan to guide its work for the next decade, this is an opportune moment for me to hand over the reins to a new leader,” said Arthur. “I am confident in the team and I look forward to seeing the work continue with their efforts. will continue to be a bold voice in the fight for affordable housing in Minnesota.”
Arthur has served as president and chief executive officer since 1988, assuming the leadership position justtwo years after the founders. In recent years, and guided by the 2017-2022 strategic plan, it has successfully brought in $100 million in new and innovative funds to create and save more than 3,000 affordable homes. Today the organization serves 15,000 people every year in more than 5,600 apartments.
“We are very grateful to Alan for his leadership and unwavering commitment to and mission,” said Tami Diehm, president of Winthrop&Weinstine, who served as board chair through fiscal 2021. “He made a tremendous difference to our community, above all to the tens of thousands of people who called his home during his tenure.”
Martha Swanson, who became board president on May 26, 2021, said, “she has a strong vision and a Leadership Team that will allow us to continue to boldly create and preserve affordable housing.” Swanson is Director, Enrollment Management, for the Minneapolis Public Schools.
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Swanson and Diehm added that beyond his knowledge and vision, Arthur’s natural warmth and genuine care for residents and staff defined him as a leader. Under his direction, he ensured that those affected by the lack of affordable housing help drive the direction of the organization. The board reserves seats for residents and other low-income community members.
“I’m going to miss Alan. I think most of us will.” said Rick Purcell, resident and board member. “For someone with so many years of experience and with such great influence, I always noticed how he treated people. Whether someone was in a suit and looking after or cleaning the bathrooms, Alan treated them with respect and was always himself. That says a lot about his character.”
Arthur led them to innovate in the face of an ever-increasing need for more affordable housing. Under his leadership, he opened the nation’s first affordable housing for youth experiencing homelessness, developed the first LEED Platinum certified affordable multifamily property in the upper Midwest, and historic preservation projects with ‘extra weight that was sent. the National Register of Historic Places. In recent years, he has been a leader in saving naturally occurring affordable housing (NOAH) properties. This work has kept thousands of low-wage families in their homes.
In addition to Arthur’s leadership in, major tensions nationally on affordable housing development, financing and organizational governance. He also served on numerous local and national housing boards.
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Alan has received the MICAH Community Hero Award, The (Real) Power 50 Award from Minnesota Business, the AIAMinnesota Collaborative Achievement Award, the Finance and Commerce Innovator of the Year Award , the national MikeSviridoff Award for community development leadership from a Local Initiatives Support Corporation, he was named one of the Twin Cities. Business’ 100People to Know, and was inducted into the Minnesota Real Estate Hall of Fame by the University of St. ThomasOpus College of Business in 2019.
To conduct the search for its next leader, the Board of Directors engaged the highly regarded Minneapolis search firm Cincinnatus, which specializes in the non-profit sector. Eric Anthony Johnson joined as President and CEO in February 2022. He brings extensive academic and professional experience to . He holds a PhD in Urban Affairs and Public Policy from the University of Delaware. He is an alumnus of the Advanced Management Development Program at Harvard University’s Graduate School of Real Estate. He also holds an MBA from the University of Tennessee. Most recently, he served as Chief of Economic Development, Housing and Neighborhood Services for the City of Dallas, where he led efforts to create a $100 million fund to support affordable housing, and the adoption of the comprehensive economic development policy of the City.
Johnson was born and raised in New Orleans and has worked in urban development in cities across the country. He is not new to Minnesota. Johnson earned a
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