Overview

This funding will assist in the development of a six-building, 64 unit complex with a mix of one- and two-bedroom units. These funds will specifically help in the development of 10 one-bedroom units designated for households at or below 65% AMI rented at HUD rent rates for an affordability period of 20 years. The remaining 54 units will be marketed as workforce housing with a starting rent of $650/month. The tenants will have access to Smithville Fiber broadband service. Infrastructure is underway, funded by City of Jasper TIF funds, and is expected to be completed in December 2022. Construction on the first phase, which will include the 10 subsidized units, will start immediately following and is expected to be completed by December 2023 with the entire development completed June 2024. The project will increase the supply of long-term affordable housing for households that experienced associated pandemic impacts.