Our agency was chartered to facilitate public-private partnerships to develop affordable housing, and now -- as throughout the country --there is a desperate need for senior housing in our area.
In the past we had been able to secure some funding through the federal government. But programs that provide this type of funding have been cut quite a bit at the same time that we have a greater need.
The St. Bartholomew is a historical landmark and a school building that is no longer utilized. We're re-purposing it to provide 24 apartments for very low- income senior citizens. The total cost is about $3.6 million, but it was the last 20% of the funding that was the most difficult to get.
The Federation of Appalachian Housing Enterprises, Inc. -- which received Create Jobs for USA funding -- was able to come to the table with a $700,000 loan. It was the last piece of funding we needed to move the project forward.
We estimate that this project will create 15 construction jobs in total, in addition to supporting 23 jobs currently in place at The Housing Partnership.
-- Mike Hynes, president
The Gelato Fiasco got a loan funded by a Starbucks campaign to open up shop down the block.
