WEST FARGO, ND – A new affordable senior housing development in West Fargo is filling up quickly.
“Typically, it would take nine months to completely lease up a senior property,” said Jamie Hager, MetroPlains Management LLC regional manager. “We opened the doors in July, and we only have five apartments left.”
Dakota Commons, located just north of the Osgood Golf Course at 3865 4th Street East, consists of 30 two-bedroom apartments, all reserved for households age 55 and older. Five of the units are fully accessible. Southhill Properties LLC, the project developer, and CHI Friendship Inc., a co-general partner, hosted an open house today with MetroPlains, the property manager.
“In areas of high demand, it can be very challenging for fixed-income households to find housing they can afford,” said Jolene Kline, NDHFA executive director. “We are very pleased with the development work Southhill and Friendship have done to address the housing needs of West Fargo’s aging population.”
NDHFA allocated $421,398 in federal Low Income Housing Tax Credits to the project. The credits were syndicated by U.S. Bancorp providing the project with $3.8 million in equity. Through the LIHTC program, property owners receive an annual tax credit from the federal government for up to 10 years in exchange for keeping the housing affordable for low-income households. Alerus Financial provided the project’s permanent financing. The total cost of construction was $4.56 million.
The apartments rent for $462 to $750 per month, depending on household income and size. An individual who earns $15,450 or less would qualify to rent a unit for $462 per month plus utilities.
The project also received support from the City of West Fargo through a Payment in Lieu of Tax.
“The City of West Fargo was very welcoming of the project,” said James Twomey of Southhill. “And, with such strong demand, we are looking to bring more affordable senior apartments to the community.”
MetroPlains manages 336 senior apartments in Cass County and, according to Hager, Dakota Commons is currently the only property with vacancies.
Supportive services for seniors are provided on-site at Dakota Commons. The smoke-free property also offers upscale amenities including: a movie theatre with surround sound, a raised-bed garden space, and a community room with scheduled activities. Residents also enjoy upgraded appliances, in-units washers/dryers, attached garage space, LED lighting, and granite bathroom vanities.
Individuals interested in learning more about the apartments can contact MetroPlains at (701) 356-0891. Information is also available online at www.metroplains.com.
NDHFA is a self-supporting state agency that finances the creation and rehabilitation of affordable housing across North Dakota. The North Dakota Industrial Commission, consisting of Governor Jack Dalrymple as chairman, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem, oversees the agency.