Kansas Firm Pays $3.22M for Section 8 Housing Development
by November 9, 2015 12:00 am 170 views
A Kansas company has taken ownership of a Section 8 housing development in south Fayetteville, with plans for a significant renovation.
Yaeger Architecture Inc. of Overland Park paid $3.22 million for the Southmont Apartments at 1101 S. Curtis Ave.
Phillip and Pamela Reed of California were the sellers.
A Yaeger representative declined to reveal the cost of the project, but said it would be funded by utilizing federal low-income housing tax credits.
The 11-building complex incudes 16 one-bedroom units, 48 two-bedroom units and 24 three-bedroom units.
Exterior renovations, we are told, will include siding, roof and door replacements, and the interior renovations will include new flooring and paint, new appliances and improvements to the plumbing and HVAC.
Yaeger is handling the design and Ross Group Construction of Tulsa, Oklahoma, is the general contractor.