Ridgeview Heights Rehabilitation
Nearly 200 families will have the opportunity to live in newly rehabilitated apartments in Kansas City, Missouri, thanks to HUD. Ridgeview Heights, formerly known as Boulevard Village, is part of the revitalization effort for the surrounding neighborhood.
Ridgeview Heights was constructed as housing for veterans returning after World War II. In 1986, the property was insured under the 221(d)(4) program with a section 8 mod rehab contract.
The Community Builders of Kansas City, a non-profit organization, expressed interest in Ridgeview Heights in 2000 after the property was placed in foreclosure. The Fort Worth property disposition staff accepted a deed from the ownership and transferred it to the Industrial Development Authority of Kansas City for $10. The property was then transferred to the Community Builders of Kansas City. And the transformation began!
Macie Houston, Regional Director, Herman Ransom, Director of Kansas City Multifamily Housing and other HUD staff attended the ribbon cutting ceremony on October 17, 2002.
In addition to HUD transferring the property, Ridgeview Heights was provided a $4,418,300 property disposition grant for rehabilitation. Total development costs are estimated at $13,293,000.
Residents will benefit from rehabilitation of the property, the neighborhood and the on-site neighborhood networks center. The ownership has agreed to maintain the property as affordable housing for 30 years.
|Content Archived: September 7, 2011|