Minot completes affordable housing rehabilitation project
MINOT, N.D. (AP) — Minot’s first affordable housing rehabilitation project through the city’s National Disaster Resilience Program is complete.
The newly-opened Park South Apartments building is one of the first projects in the U.S. to be completed by recipients of more than a dozen National Disaster Resilience Program grants, according to Minot officials. The U.S. Department of Housing and Urban Development provided the grants, the Minot Daily News reported.
Minot received a $74 million grant through the program. About $21 million of that funding is designated for affordable multifamily housing.
The city awarded $1.97 million to Essential Living, the nonprofit owner of Park South, to renovate the building’s 35 existing apartments and add five new units. Essential Living updated the units’ kitchens, bathrooms, plumbing, electrical, hardware and flooring. The building’s common areas were also renovated.
Seventy-five percent of Park South apartments are reserved for income-qualified households.
“Park South’s completion is a milestone for the city of Minot in carrying out the goal of fulfilling unmet housing needs in the community,” said Disaster Resilience Program Manager John Zakian.
The North Dakota Housing Finance Agency also awarded Essential Living $2.2 million through the Housing Incentive Fund, a state program that supports the development and preservation of affordable multifamily rental housing. The North Dakota Department of Commerce provided additional support to the project.
“The assistance North Dakota Housing Finance Agency provided through the Housing Incentive Fund extended the affordability of these homes and ensures that the individuals and families that live at Park South have a place to live that is both safe and desirable,” said North Dakota Housing Finance Agency Executive Director Jolene Kline.
Essential Living also plans to build affordable patio homes on 5 acres adjoining Park South.
Information from: Minot Daily News, http://www.minotdailynews.com