“Our housing is not just affordable, but it’s supportive as well. So, we walk alongside our tenants and help them be successful.”
Flat River Outreach Ministries Executive Director Wendie Preiss says the tax increment financing for its Lowell affordable housing development allows for a $750,000 reimbursement for costs associated with the project addressing the need for additional affordable housing.
“The difference between having this Brownfield TIF and not having this Brownfield TIF is basically we are sustainable or we’re not.”
The $2.8 million, 17-unit development, which began construction over the summer, offers a mix of one-, two-, and three-bedroom rental units, each designed for residents earning 50% to 120% of area median income. Once completed, it will serve roughly 40 residents at a time, benefiting an estimated 400 residents over the next 25 years.
“We’re short somewhere around 40,000 dwelling places for people in the county. There’s all kinds of data out there that shows that people are struggling to find housing.”
The project is expected to be completed by late spring or early summer next year.
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