A newly announced grant for a tiny homes community in Branson is anything but tiny.
Elevate Branson is receiving $1 million through the Federal Home Loan Bank of Des Moines, according to a news release. Branson Bank partnered with the nonprofit to secure the funding through the Federal Deposit Insurance Corp.'s Affordable Housing Competitive Funding Program.
"This is a critical step in making Elevate Community possible," said Bryan Stallings, co-founder of Elevate Branson, in the release. "Not only is this funding essential for the project, but the award of this grant provides our project with credibility, stature and security.
"No one needs to wonder any longer if this kind of affordable housing project can happen in Branson."
Elevate Community is a 48-unit tiny homes development in progress just north of Elevate Branson's campus. Springfield Business Journal previously reported Elevate Community's 24-home Phase I is slated to open this fall. The second phase, also 24 homes, is targeted for completion in 2022.
Elevate Branson also has been working to recruit donors for individuals’ homes, a $35,000 ask per 400-square-foot residence. The nonprofit had $245,000 in pledges at the end of October.
Elevate Community’s target audience is those with a fixed income living at or below the poverty line, according to past reporting.
"Affordable housing is a critical element in the pursuit to provide safe, secure and reasonably priced housing for those in need," Branson Bank President and CEO Bill Jones said in the release.
417 Cocktails LLC moved; 7 Brew Coffee added its first shop in Lebanon; and Branson outlet store for Baltimore, Maryland-based sports apparel retailer Under Armour relocated.