The North Dakota Housing Finance Agency (NDHFA) has awarded development assistance to four affordable housing projects that will offer supportive services to help their senior residents age in place.
NDHFA awarded $3.39 million in federal low-income housing tax credit (LIHTC) authority to the projects, which will generate more than $30 million in equity. The agency also awarded $2.8 million from the National Housing Trust Fund (HTF) and $1.6 million from the state’s Housing Incentive Fund (HIF).
“North Dakota’s seniors are one of the most housing insecure and cost-burdened sectors of our population,” said Jolene Kline, NDHFA’s executive director. “Focusing our development resources on supportive housing for these households allows seniors of limited means to live safely and comfortably, and reduces the burden placed on the state if the other alternative is a costly long-term care facility.”
Century Cottages, a CommunityWorks North Dakota project in Bismarck, received $788,000 in LIHTCs. NDHFA also made a commitment of $300,000 from the HTF and $408,047 through HIF. The project will create 35 new one- and two-bedroom apartments. Twenty percent of the units will be reserved for households that require assistance to live independently. The cost of construction is estimated to be $8.5 million.
The Schuett Cos. was awarded $899,000 in LIHTCs to support the acquisition and renovation of Patterson Place Apartments in downtown Bismarck. The project will also receive $2.5 million from the HTF. The 117-unit property will continue to be operated as housing for seniors and individuals with disabilities. In addition to supportive services, 24/7 staffing will be added. The total project cost is more than $17.2 million.
The Housing Authority of Cass County was awarded $850,000 in LIHTCs to develop The Monterey, the first phase of a planned replacement of its ND1-1 and ND1-2 properties, commonly known as the West Fargo low-rise. The project was also awarded $600,000 through HIF. The Monterey will consist of 42 one- and three two-bedroom apartments. Twenty percent of the units will be reserved for households that require assistance to live independently. Separate financing will support the development of office space in the property for the housing authority. The total cost of construction is estimated to be $11 million.
Phase two of the Housing Authority of Cass County’s planned replacement of the ND1-1 and ND1-2 properties, known as The Bridges, was also awarded $850,000 in LIHTCs and $600,000 through HIF. The Bridges will consist of 36 one- and three two-bedroom units. Twenty percent of its units will also be reserved for households that require assistance to live independently. The estimated cost of construction is $9.6 million.
Beyond Shelter, a Fargo, N.D.-based nonprofit, is the housing authority's development partner on the two projects.
