BELCOURT, ND – April 28, 2010 – (RealEstateRama) — The North Dakota Housing Finance Agency, USDA Rural Development and the Minot Vocational Adjustment Workshop, Inc. will break ground in Belcourt, ND, at 11 a.m. on Thursday, April 29, for an affordable housing development specially designed to meet the needs of individuals with both physical and developmental disabilities.
The Turtle Creek Apartments will consist of eight one-bedroom units. All of the apartments will be handicapped accessible, and the building will include a commons area for group activities. The complex will be located at 505 Turtle Creek Drive NE. This development was made possible, in part, by a federal Neighborhood Stabilization Program grant worth $695,800 administered by the NDHFA.
“Through the NSP, North Dakota Housing awarded more than $6 million to cities and non-profit organizations statewide last year,” said Jolene Kline NDHFA planning and housing development director.
NSP was funded by the federal Housing and Economic Recovery Act of 2008. The program provided funds to purchase foreclosed or abandoned homes and to rehabilitate, resell, or redevelop the properties in order to stabilize neighborhoods and stem the decline of property values.
“NSP has helped the State of North Dakota address the demand for quality affordable housing for special needs and elderly households, and provide much needed workforce housing in areas impacted by the energy industry,” said Kline.
The total cost of constructing the Turtle Creek Apartments is $1,420,000. The MVAW also received a Section 515 loan from USDA RD valued at $724,000. The apartments are expected to be ready for occupancy by early 2011.
For more information on housing development and rehabilitation resources available from the NDHFA, contact Jolene Kline at (701) 328-8080, (800) 292-8621, (800) 366-6888 (TTY), or info (at) ndhfa (dot) org.
