Leading Age, a trade association for elderly services operating in Missouri and 37 other states, says the need for affordable senior housing in the U.S. is "exploding."
Seniors, according to the organization's website, represent fully two thirds "of the recent increase in worst case housing needs," noting homelessness among the poor is rising among America's oldest adults.
In Cape Girardeau, co-developer Chad Hartle is teaming up with St. Louis' Sansone Group and Cape's Community Partnership on a plan to buy and rehabilitate Lindenwood Apartments, a 67-unit six-story not-for-profit senior housing development originally built in 1983.
The plan will have a construction price tag of $5.2 million.
"Factoring in everything, though, including property purchase, engineering, architectural work and associated soft costs, the projected total project will cost $10.8 million," said Hartle.
The plan was endorsed Monday via a 6-0 vote by Cape Girardeau City Council and now goes to the Missouri Housing Development Corporation (MHDC) for possible tax credit approval.
Hartle said the apartment complex for low income seniors at 1105 Linden Street was "state of the art" when it was built in 1983.
The co-developer said part of the vision is to rework Lindenwood's exterior aesthetics.
"We want to get away from the institutional look (Lindenwood) has," Hartle said.
"It looks too much like a hospital or a nursing home -- and we want it to look like a 'home-home'," he added.
Community Partnership, if MHDC grants the tax credits, will become owner of Lindenwood.
CP's executive director, Melissa Stickel, says her organization will provide services to seniors and will have a full-time case manager on site.
Stickel is keenly aware of Lindenwood's competition, citing the recent plan by MACO Development to expand its current Silver Springs II senior housing apartment complex by 56 units.
MACO also seeks tax credits and Cape City Council gave its endorsement to that project September 21.
"Typically, only one project in a given community gets the credits," said Stickel.
Hartle admits the battle for tax credits is stiff.
"(MHDC) gets 120-130 applications in any given year and only about 30 get the green light," said Hartle, of RCH Development of Jackson.
Hartle said MHDC will decide on which projects will receive tax credits in December.
One of the most notable upgrades planned for Lindenwood is in the area of fire protection.
"Currently, there are only sprinklers in the common areas," said Stickel.
"We'll put sprinklers in every unit -- in bedrooms, kitchens and living areas," said Hartle, adding that parking expansion is also on the docket, with LED lighting is planned throughout the mid-rise structure as well as updated plumbing fixtures and the replacement of 26-year old windows.
"We'll bring the windows to the National Green Standard at the bronze level for energy efficiency," he added.
Lindenwood qualifies for 100% assistance, which means government rent and utility supplements allow low-income residents aged 62 and over to pay down to approximately 30% of their incomes.
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