MANDAN, ND – A community landmark, once commonly known as Mandan’s Jr. High School, was celebrated today as Historic Apartments on 4th, an affordable home for individuals and families.
“With the first tenants moving in this week, the Grand Opening celebration offered community members the opportunity to roam the halls of the school one last time,” said Erin Anderson, The Commonwealth Companies vice president of development.
Mandan Public School District sold the property in 2012 to Yegen Development who, after failing in its attempt to redevelop the school, donated it to Spirit of Life Catholic Church. In 2016, the church transferred ownership to Commonwealth with the understanding that it would become affordable rental housing.
The renovation Commonwealth spearheaded preserved the property’s historic features including terrazzo flooring, woodwork and school lockers, while providing the new tenants with 39 one- to three- bedroom apartments with modern amenities including energy-efficient appliances, central air conditioning and secured entrances.
“NDHFA is pleased to be able to provide the support needed to transform the property, restoring a community landmark and bringing affordable housing to the heart of Mandan,” said Jolene Kline, NDHFA executive director. “The development resources the agency provided creates homes and being able to afford a ‘home’ is crucial to every North Dakotans’ wellbeing.”
NDHFA awarded $698,822 in tax credit authority to the project through the federal Low Income Housing Tax Credit program. The credits were syndicated by Redstone providing $6.2 million in project equity. NDHFA also awarded the project more than $1 million from the National Housing Trust Fund.
Historic Apartments on 4th received $1.3 million in Historic Tax Credits from the US Department of the Interior, and the City of Mandan approved a Payment in Lieu of Taxes which reduced the development’s property tax burden. Construction financing was provided by Sterling Bank. The total cost of the redevelopment was more than $8.8 million.
Located at 406 4th Street NW in Mandan, ND, the original building on the site was completed in 1917, it and three adjoining buildings, constructed in 1924, 1954 and 1977, were redeveloped to create the apartments, a community room, fitness center, and a small daycare center with a private playground.
All of the housing units at Historic Apartments on 4th are reserved for income-qualified households and rent for $499 to $775 depending on unit size and household income. In addition to running the on-site daycare, the Mother Teresa Outreach, an affiliate of Spirit of Life Church, will offer supportive services to tenants who have experienced housing instability.
Individuals interested in learning more about the apartments should contact Kaycee Boehm, the property’s on-site manager, (701) 751-1542 or email@example.com.