Important Award Announcement for Riverview Senior Apartments in South Hutchinson, Kansas

News Release
FOR IMMEDIATE RELEASE
May 29th, 2012

CONTACT:
Kelley Hrabe, Net Giver
816-686-2416
Michael Snodgrass, BDC
816-733-2240

Important Award Announcement for
Riverview Senior Apartments in
South Hutchinson, Kansas

The development team of Builders Development Corporation and Net Giver Communities, LLC, is pleased to announce the award of a $5.5 million allocation of affordable housing tax credits from the Kansas Housing Resource Corporation (KHRC) to build a 36 unit senior apartment project in South Hutchinson, Kansas. The project has also been awarded a $200,000 HOME funding grant from KHRC. The quality-affordable senior housing development will incorporate sustainable design and building materials as well as integrate renewable energy systems to help offset ongoing operating costs. The development will be restricted to households 55+ years and consist of both one and two bedroom apartments. Construction is expected to start this fall.

“This is a great project for South Hutchinson and an important part of a larger revitalization plan for the overall community,” commented Matt Stiles, City Administrator. “The added value of an energy-efficient and sustainable development will have an immediate impact on the City.”

Fred Bentley of Kansas Housing Resources Corporation stated, “We’re pleased to support partnerships that provide quality housing for low-income seniors, creates jobs, and generates economic activity for the community. Construction of Riverview Senior Apartments will put people to work, assist local development efforts and enhance the quality of life for aging Kansans.”

Kelley Hrabe of The Net Giver said, “This is an exciting time for The Net Giver and the City of South Hutchinson as we look to incorporate as many sustainable design elements into this senior housing development as possible.”

“We are very grateful to Kansas Housing Resources Corporation and government officials for placing their faith in our partnership to develop this sustainable housing which addresses a critical need in the community”, stated Michael Snodgrass, Executive Director of the Builders Development Corporation. “We are also very pleased to be partnering with such a quality developer as The Net Giver and look forward to getting started on this project which enables us to accomplish our nonprofit mission.”

The Builders Development Corporation is a not-for-profit 501(c)(3) community development corporation working towards rebuilding communities throughout Kansas and Missouri. The BDC recently received a U.S. Housing and Urban Development Best Practice Award for its commitment to energy-efficient and affordable housing.

Net Giver Communities, LLC, is a Kansas City based for-profit senior housing development and property management company focusing on both market rate and affordable senior housing projects throughout the Midwest.

Persons interested in obtaining more information about the program, can contact Kelley Hrabe of The Net Giver at kelley@netgiver.com or Michael Snodgrass, Executive Director of the Builders Development Corporation at mailto:msnodgrass@bdc-kc.org.

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