Minnesota Housing – Real Estate Matters
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Minnesota Housing

UST Student Profile

Student Profile: Crystal Sheppeck, Senior Housing Paraprofessional

CrystalPicWith a solid background in housing through working at the Met Council and selling residential real estate, Crystal was able to use her experience so far in the MSRE program to secure a new position with Minnesota Housing Finance Agency.

What is your professional experience and education?

“For eight years I worked at the Metropolitan Council as a housing coordinator for low-income housing.  In this challenging position, I administered the section 8 program to 390 families.  I also spent two years at Target working with their financial analysis and planning team.  Working as a real estate agent on the side, I have been learning about all aspects of housing.  My undergraduate degree is in organizational management and communication from Concordia University in St. Paul.

Recently I began a new position with Minnesota Housing Finance Agency, as a Senior Housing Paraprofessional.  This is a new role for the organization in which I’ll be spending half of my time on underwriting and half on asset management.  I’ll be working with both teams, both hands-on as well as working on financial monitoring, special projects, and some process documentation like I did at the Council.  In my new position, I get to manage my own time and work flow so I enjoy the pace.”

Crystal began her career with Minnesota Housing at an interesting time- right during the state government shutdown.  But the agency is up and running now and busy with their annual RFP process for multifamily properties.  Currently Crystal is assisting in analyzing properties that have requested financing for new construction and redevelopment to determine who can be awarded tax credits and subsidized mortgages and loans.  “We look at how they score on many different criteria.  For example, points can be earned if the development is smoke-free, green, or if they are partnering with the city to utilize public financing.”
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Commercial Real Estate, Industry News, Real Estate Trends, Uncategorized

MN State Shutdown Day 13: Impact on the Local Economy


While many Minnesota businesses and most of us in the real estate industry are not seriously impacted by the shutdown yet, there is still cause for concern.  Now in Day 13 of the shutdown, it is already one of the longest in our country’s history.  In the meantime while 22,000 state workers are out of work, the shutdown affects everyone from citizens who depend on social services to vacationers traveling to state parks to professionals who rely on state permits or licenses to do business.  In the press lately are many accounts of individuals who have been affected.  The question we are posing at St. Thomas, is how are local businesses and real estate being affected?  If the shutdown is having an impact on your business or real estate sector, we encourage you to submit your comments at the end of this post.

Several Minnesota agencies that provide support to businesses and real estate are experiencing adverse effects or are shutdown completely.  Minnesota Housing Finance, the state’s affordable housing bank, is under a partial shutdown.  Loan servicing is still available but new applications may be delayed due to reduced staffing.  Forgivable loans available through the state to homeowners affected by the North Minneapolis tornado are also on hold.

Commercial barge traffic on the Mississippi River may be restricted as early as this week, according to the St. Paul Port Authority, which is obligated to “keep its waterways open for commerce.”   BargeOn Friday, SPPA’s counsel Eric Larson appealed the state’s move to suspend its dredging permits during the shutdown, citing that closure of just one of its four river terminals will result in 6,000 tons of commodities per week being unable to reach its destination.  That’s the equivalent of 200 semi-trucks of product and includes staples such as livestock feed, water treatment chemicals, and recyclable metals, some of which are shipped from international locations.

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