YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The commission approved 39 projects out of 114 proposals for 2007 funding. Those projects, which also include developments in Joplin, Carthage, Lebanon and Neosho, are expected to provide a total of 1,335 affordable housing units.
MHDC-approved funding for 2007 totaled $43.8 million; about $144 million was requested.
Springfield developer Affordable Homes Development Inc. will receive $4.9 million for Heatherwood Apartments, a multifamily complex on 2.63 acres at Scenic Avenue and Bennett Street.
Developer Ingram Investments Inc. will use MHDC funds to create Ozark Trails at the corner of North 25th Street and West Spring Drive in Ozark. To build the complex’s 60 two- and three-bedroom units, Ingram will receive $8.1 million in construction financing and $1.5 million in a HOME loan. Construction is slated to begin in June and end in September 2008.
Developers Red-Wood Development Inc. and Schroeder Ash Grove LLC will receive $189,304 in MHDC tax credits to purchase and renovate a 48-unit elderly complex in Ash Grove, called Ash Grove Seniors LP.
HCW LLC plans to develop the second phase of Country Ridge Residences in Branson with MHDC funding. The proposed complex will have 40 affordable and market-rate apartments, adjacent to 60 units now under construction.
Phase II construction is slated to begin in the spring and be complete by spring 2008.
See SBJ’s Dec. 25 issue for more on approved housing projects in southwest Missouri.[[In-content Ad]]
The first southwest Missouri location of EarthWise Pet, a national chain of pet supply stores, opened; Grey Oak Investments LLC relocated; and Hot Bowl by Everyday Thai LLC got its start.