Aeon receives NeighborWorks grant.

Byline: William Morris

Affordable housing nonprofit Aeon is among more than 200 organizations receiving funding from the Neighborhood Reinvestment Corp., better known as NeighborWorks America.

The $581,500 grant will allow Minneapolis-based Aeon to further its efforts to build new affordable units and purchase existing properties at risk of losing their affordability. Aeon has added or preserved more than 3,800 affordable units in the Twin Cities since 2010.

"We thank NeighborWorks for the funding to make our work possible," Aeon President and CEO Alan Arthur said in a press release. "Their support means that our residents can find and maintain the stability of home."

NeighborWorks is a network of nearly 250 nonprofits around the country, including Aeon, and supports affordable housing as well as financial literacy, homeowner education and other forms of community development.

"NeighborWorks America is dedicated to securing that these grants create opportunities for people to improve their lives and strengthen their communities," NeighborWorks America President and CEO...