Boston Capital has provided the low-income housing tax credit equity for the rehabilitation of Willow Creek Apartments, a 64-unit multifamily development for seniors in Eldon, Mo.
Summit Housing Development, LLC, is the partner in the project.
Located on a six-acre site, Willow Creek Apartments will include the rehabilitation of 16 one-story buildings featuring 64 one-bedroom units. Community amenities will include on-site management, a newly expanded community room with kitchen, central laundry, and an outdoor lounge and social area. Unit renovations will include new kitchens and appliances, bath fixtures, energy-efficient windows, central air conditioning, patios, ceiling fans, and porches.
The proposed rehabilitation will total nearly $51,000 per unit in construction costs. Willow Creek Apartments will be available to residents ages 62 or older at 60 percent or less of the area median income. The development is located within close proximity of senior-oriented services and facilities, including the Eldon Senior Center and convenient retail, social, and recreational outlets.