9% Allocation Awarded in Missouri
Evergreen Partners, along with its affiliate The Wishcamper Group, is pleased to announce that they have been awarded 9% Low Income Housing Tax Credits for the acquisition and rehabilitation of Nu Elm Apartments in Springfield, Missouri. The property provides homes for 72 families, in 24 one-bedroom and 48 two-bedroom apartments. The property was initially built and financed through HUD's Section 236 program in 1972. The closing is slated for the third quarter of 2008, with construction beginning immediately after. The project was co-sponsored by the Ozarks Area Community Action Corporation, and construction will be performed by DCI Construction, with Wallace Architects providing design and architectural services.
"We're very excited about the opportunity to bring these competitive resources to bear on this community," said Angus King, a prinicipal with Evergreen Partners. "Working with our local partners, the City of Springfield and the Missouri Housing Development Commission, we will be able to bring a tired property back to life, delivering new services and an improved quality of life to the community.