An affordable housing development near the elementary school will move forward after tax credits for the project were approved Friday.
GW Weld and Dustin Baker will receive low-income housing tax credits to help make the new apartment complex possible.
The plan is to build both affordable and market-rate apartment options at a new complex called Paschal’s Landing at 10th and Peach Street.
Weld said this is the first time Eudora has been awarded this kind of tax credit in over 30 years. Weld also said they received four times as many applications than average, meaning it was highly competitive. He said it’s a big deal to get this award for the community.
“We’re really excited to get the tax credit award. It’s a great project for the community, and is going to provide some important housing, both market rate and income restricted for the town, so we’re really excited about it. We know now that we have a project that’s viable,” Weld said.
The first phase of the project would be about 36 income-restricted units and 40 market-rate units.
Next week, Weld will meet with the city to discuss moving forward with the new sewer line for the property.
Weld will also begin gathering building costs and layouts. He will go back to the Planning Commission and City Commission to get the site plan approved. He hopes construction will start next year.
The need for affordable housing has been discussed by many officials, groups and community members, especially those on fixed incomes. Weld plans for the rent of the affordable units to be between $500 and $950 for monthly rent and market rate would be between $1,100 and $1,650.
Caren Rowland, a Realtor with McGrew and a member of the Senior Foundation of Eudora board, hopes this is just the start of different types of housing for seniors in the area.
Rowland said she was excited to hear the news about the credits and previously spoke to the commission during the previous public hearing. She’s seen the need from within her own community of seniors and also a broader need within the housing market.
“I think affordable housing is a problem for not only seniors, but everyone at this point,” she said. “As far as seniors, yes, we have talked to seniors about this, and they are on board with this happening and are hoping that it does happen.”
Assistant City Manager Zack Daniel said the city is looking forward to what Weld and Baker put together for their review
Affordable housing has been something the city has wanted to dedicate more resources to, and an issue that’s facing the whole state, Daniel said.
“We’re excited to have this project, and an opportunity to start moving the needle in that way,” he said.
Reach reporter Sara Maloney at [email protected].
To donate to support our community journalism, please go to this link: tinyurl.com/y4u7stxj
