Nu Elm Apartments

Nu Elm Apartments was originally built in 1972 under the HUD 236 Mortgage Program. It houses both families and elderly residents of Springfield, MO in 72 Apartments comprised of 24 one bedroom and 48 two bedroom units. The property was purchased by the Wishcamper Group, an affiliate of Evergreen Partners, in July 2008. New financing includes the use of equity raised from the sale of 9% low income housing tax credits along with debt provided by the Missouri Housing Development Commission . The Wishcamper Group/Evergreen were able to structure a transaction with HUD that enabled the existing Section 8 contract to remain in place for an additional 20 years, ensuring on-going affordability for the residents of Nu Elm for years to come.

Preservation Transaction Description
First Mortgage Financing: Taxable financing using debt provided by the Missouri Housing Development Commission (MHDC).
Equity Financing: Equity raised through the sale of 9% low income housing tax credits, allocated by MHDC and purchased by SunAmerica.
Section 8 Contract Renewal: Yes

Property Rehabilitation Scope
Over $2.5 million in total rehabilitation expenditures including:

• New kitchen cabinets, countertops, appliances, & flooring
• New bathroom vanity, water closet, lavatory & flooring
• New HVAC systems
• New lighting throughout
• New roofing, windows and blinds
• New playground equipment

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Nu Elm Apartments
440 South New Ave.
Springfield, MO 65806
Phone: (417) 865-6993

Office Hours: M-F 9:00 am-5:00 pm