Residents, local leaders celebrating opening of Pacific senior apartments

An MHDC representative joined local city leaders, Arapaho Development and Hartle Management Company in ceremonies to celebrate the opening of the Millstone Village Apartments in Pacific Aug. 27. The apartments provide affordable housing for seniors.

“This is what we are proud to witness. To see a community already forming, means we have reached our goal,” said David Bryan, MHDC Public Information Officer, who attended the event. “Smiles, laughter and community are very important to us and are behind our funding of these types of facilities. It is obvious that these apartments were needed and that they are going to be successful in providing housing for Pacific’s seniors”

The ceremonies mark the completion of the $4.3 million construction of the 44-unit senior apartment complex. The complex is located at the corner of Lisa Lane and W. Flier Drive in Pacific, just west of I-44. Missouri Housing Development Commission financing for the development includes a $933,315 federal HOME loan and $286,000 in federal and state Rental Housing Tax Credits.

The Missouri Housing Development Commission has invested almost $4 billion for rental housing developments, preservation of affordable rental housing, home mortgages, home improvement loans, grants to neighborhood housing groups, and other housing programs. MHDC functions as a bank, providing financing directly to borrowers or through a network of private lending institutions.

The Commission makes loans to non-profit and limited-dividend sponsors of residential housing to provide affordable housing for underserved Missourians. The Commission also administers the federal Low Income Housing Tax Credit, Missouri Low Income Housing Tax Credit and the Affordable Housing Assistance Tax Credit; and operates a housing trust fund for very low-income Missourians to help prevent homelessness and provide emergency housing assistance.
 

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