BELFIELD, ND – July 26, 2012 – (RealEstateRama) — More affordable housing units will be on their way as Lutheran Social Services Housing breaks ground on the 12-unit Greenfield Heights Twin Homes in Belfield, ND.
The non-profit affordable housing developer together with the North Dakota Housing Finance Agency (NDHFA) will kick off the project during a ceremonial ground breaking at 10 a.m. MDT on Thursday, July 26, at the site of the new housing units in the Makaruk Addition on 5th Street NW between Jeanette and Mary Avenues.
The project is a great example of public and private entities working together, said Lutheran Social Services Housing Director Jessica Thomasson.
“MBI Energy Services’ financial support and NDHFA’s development programs have put this project on the right path,” said Thomasson. “We are ready to provide Belfield with the affordable housing the community needs.”
MBI Energy Services contributed $225,000 to the North Dakota Housing Incentive Fund (HIF) in December, targeting the funds to Lutheran Social Services Housing’s Belfield project. The family-owned business is headquartered in Belfield and wanted to help bring affordable housing options to the community.
Capitalized by state taxpayers, HIF provides low-cost financing to developers of affordable multifamily housing. Contributions can be directed to a specific project or community.
Greenfield Heights Twin Homes also received $750,000 from the federal Neighborhood Stabilization Program (NSP). NSP funds are used to purchase foreclosed, abandoned or vacant property and redevelop it into housing that stabilizes neighborhoods.
NDHFA administers both HIF and NSP.
“Because economic growth has put a strain on the state’s housing supply, NDHFA’s priority is to create rental units for essential services employees and fixed-income households,” said Jolene Kline, NDHFA planning and housing development division director. “Belfield has seen a dramatic increase in the need for safe, decent and affordable housing and NDHFA is proud to partner with Lutheran Social Services Housing and the community to make that happen.”
Additional key partners in this project include Stark County Development Corporation and Great Plains National Bank.
The total cost of constructing the twin-home style units is estimated at $1.55 million. Greenfield Heights will consist of eight two-bedroom and four three-bedroom rental units. Lutheran Social Services Housing anticipates that the project will be completed by November 2012.
Lutheran Social Services Housing, a program of Lutheran Social Services of North Dakota, supports the continued vitality of the state’s smaller communities by providing nonprofit affordable housing and housing-related services, with eight rental housing projects currently completed and under management, an additional seven projects in various stages of development and approximately 20 more projects in the pipeline.
Lutheran Social Services of North Dakota is a statewide social services agency serving thousands of North Dakotans in need with affordable housing, food, disaster recovery, counseling and therapy and other programs that strengthen individuals, families and communities without regard to clients’ race, religion, gender or economic status.
The Industrial Commission of North Dakota, consisting of Governor Jack Dalrymple as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees NDHFA.
More information about the Housing Incentive Fund is available online at www.ndhousingincentivefund.org.
