$2.7 Million Rehab Creates 24 Affordable Rental Units in North Eastern Kansas
WELLSVILLE - Officials from Kansas Housing Resources Corporation (KHRC), USDA Rural Development and the City of Wellsville on October 18, 2012 celebrated the grand opening of Garden Walk Apartments in Wellsville. The newly renovated housing development offers 24 quality, two-bedroom units for low and moderate-income families.
“Located on I-35 between Ottawa and Olathe, Wellsville is poised for significant growth due to its strategic location and proximity to BSNF’s new Intermodal Freight Hub in Gardner,” said Fred Bentley, Rental Housing Director for KHRC. “This housing is important to serving the needs of area workers and also preserves a USDA property that offers rental assistance,” said Bentley.
Developers faced a few challenges renovating Garden Walk, but say the end result was worth the effort.
“Many of the apartments were previously uninhabitable and mold infested,” said Ryan Hudspeth, Principal of the Belmont Companies. “However, with new ownership and collaborated efforts between KHRC, USDA Rural Development, Boston Capital, Bank of Oklahoma, Belmont and Blackledge and Associates, we were able to re-develop safe, affordable housing in a much needed market,” said Hudspeth.
Financing for Garden Walk included $1.7 million in federal Housing Tax Credits and a $726,000 loan from USDA’s Section 515 Program. Amenities include energy efficient central heating and air, new appliances, on-site laundry facilities, free water and trash pickup, a playground and picnic area.
For leasing information, please contact the Belmont Management Company at 785-883-2726 or TDD# 800-766-3777.
Kansas Housing Resources Corporation is a self-supporting, public corporation which serves as the primary administrator of federal housing programs for the State of Kansas. Our mission is to increase the availability of affordable, decent and accessible housing for low and moderate-income Kansans.