KANSAS HOUSING RESOURCES CORPORATION AWARDS $5.2 MILLION TO DEVELOP AFFORDABLE HOUSING

KANSAS HOUSING RESOURCES CORPORATION AWARDS $5.2 MILLION TO DEVELOP AFFORDABLE HOUSING

TOPEKA – (RealEstateRama) — Eleven housing initiatives across the state will get a boost thanks to Kansas Housing Resources Corporation (KHRC) financing. The awards, offered as deferred-payment loans, are funded through HUD’s Home Investment Partnerships (HOME) Program and the National Housing Trust Fund (HTF), which provide federal funds to expand access to affordable rental housing.

Award recipients were selected through a competitive application process that spanned the past year. More than 20 applications were received for projects totaling approximately $9.5 million. Awardees were selected based on a range of factors, including previous development experience, community need, affordability, development costs, leveraging of resources, and location.

Of the 11 developments selected, six are funded through HOME funds and five from HTF funds, which serve extremely low-income individuals and families. HOME and HTF applications were reviewed in conjunction with 2018 Low Income Housing Tax Credit (LIHTC) applications. HOME and HTF funds are often used as gap funding for a larger LIHTC development. All but three of the applications received also included a request for housing tax credits.

KHRC is a public corporation that finances and develops affordable housing opportunities for low and moderate-income Kansans. We serve as the state’s primary administrator of federal housing programs. For more information about KHRC’S HOME Rental Development and National Housing Trust Fund Awards, please contact Christine Reimler at 785-217-2023 or visit our website.

Development Name
Developer
City
Type /       Total units
LIHTC
HOME*
HTF*
Southwest Kansas Family Housing
Builders Development Corporation
Garden City, Lakin, Syracuse, Ulysses
NC Family / 40
Yes
$500,000
$0
Lee Hardware Lofts
Overland Property Grp./ Comm. Hsg Dev Corp of Central KS
Salina
Historic Conversion / Family / 53
Yes
$500,000
$0
Eastridge Villas
Housing Opportunities / Mesner Dev.
Scott City
NC Seniors / 20
Yes
$500.000
$0
Heritage Place of Hoyt
Homestead Affordable Housing
Hoyt
A/R
Seniors / 10
No
$545,000
$0
OTLR 2018 Single Family
Original Town of Liberal Revitalization
Liberal
NC Family / 4
No
$500,000
$0
Building Stability on Maple Lane
Tenants to Homeowners
Lawrence
NC Family / 3
No
$500,000
$0
Boulevard Lofts
Comm. Hsg. Of Wyandotte Co. (CHWC) / Prairie Fire Dev.
Kansas City
NC Family / 50
Yes
$0
$400,000
Prairie View Ottawa
East Central KS Econ. Opp. (ECKAN) / Prairie Fire Dev.
Ottawa
NC Family / 36
Yes
$0
$350,000
Eileen’s Place
Viceno Grp / Metropolitan Lutheran Ministries
Kansas City
NC Family / 60
Yes
$0
$500,000
Great Bend High Rise
Housing Solutions Alliance / Great Bend Hsg Auth.
Great Bend
Public Housing Conversion / 81
Yes
$0
$500,000
Parkview Plaza Apts
Clay Center Hsg Authority
Clay Center
Public Housing Conversion / 50
Yes
$0
$500,000
 
Totals
 
$3,045,000
 
$2,250,000

* Amounts may be adjusted as final underwriting is completed.

Contact:
Emily Sharp
785-217-2012, esharp (at) kshousingcorp (dot) org

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The Kansas Housing Resources Corporation (KHRC) was formed pursuant to K.S.A. 74-8904(v) per the Governor's Executive Reorganization Order (ERO) # 30.  KHRC is a subsidiary corporation of the Kansas Development Finance Authority. 

The Kansas Housing Resources Corporation mission is to enhance Kansas communities with housing opportunities. This goal is achieved through using a variety of strategies and approaches, including increasing homeownership opportunities, leveraging the construction of more affordable rental housing, preserving existing housing through rehabilitation, promoting energy efficiency improvements for owner-occupied and rental housing, providing affordable housing through rent assistance to low-income families and senior citizens, and creating housing opportunities for previously underserved persons and communities.

Contact:

Kansas Housing Resources Corporation
611 South Kansas Avenue, Suite 300
Topeka, Kansas 66603-3803
Phone: (785) 296-5865
Fax: (785) 296-8985

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