Six projects have received funding commitments from the North Dakota Housing Finance Agency (NDHFA) to support the construction or rehabilitation of more than 200 affordable housing units.

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During its recent funding round, NDHFA reserved $3.25 million through the low-income housing tax credit (LIHTC) program. When syndicated, the credits will generate approximately $29 million in project equity. NDHFA also awarded $2.76 million through the National Housing Trust Fund (HTF).

Here is a summary of the awards:

GLS Development was awarded $208,753 through the LIHTC program to support the redevelopment of Holiday Village in Devils Lake, preserving 40 housing units.

Commonwealth Development Corp. was awarded $804,375 through the LIHTC program and $500,000 from the HTF to support the construction of City Flats, a 42-unit project in Fargo.

Beyond Shelter, Inc. (BSI) was awarded $720,274 in LIHTC authority to support the construction of HomeField III. The Fargo project will create 39 new housing units for households 55 and older.

BSI was also awarded $804,375 through the LIHTC program and $1,310,000 through the HTF to support the construction of The Milton Earl. The Fargo project will provide housing for 42 households 55 and older.

Grand Forks Homes was awarded $796,000 in credit authority and $950,000 from the HTF to support the construction of the Jackson Flats Community. The Grand Forks project will create 40 new units for households 55 and older.

Sierra Townhomes, a West Fargo project targeted to households 55 and older, was awarded $47,790 through the LIHTC program to address increased material costs. BSI is the developer of the 36-unit project.

“The applications NDHFA received this year were primarily for housing for older adults, an area of significant demand,” said executive director Dave Flohr. “The statewide vacancy rate for housing designated for older adults is currently less than 2%.”

NDHFA’s programs have allocation plans that are reviewed annually to ensure that its financial awards address the state’s greatest housing needs. Of the eight applications received by the agency in this funding round, five were for projects for households 55 and older.