DEDA Approves Option to Purchase Agreement for West Duluth Affordable Housing Development

DULUTH, Minn. – On Wednesday night the Duluth Economic Development Authority approved a resolution to provide the Minneapolis-based nonprofit Aeon Inc. an option to purchase agreement for vacant land near the Menards in West Duluth.

Aeon Inc. hopes to build 120 affordable housing apartment units on the plot of land which is located on the corner of Wadena Street and West 52nd Avenue.

The purchase agreement gives Aeon Inc. the option to buy the land from DEDA for $500,000 for the development.

The development would potentially include two buildings of 60 units each with an average rent catered to those making 60 percent or less of the median income.