$8-million, 80-unit apartment complex still ‘Rockdale bound’
Developers who announced in February they were planning on placing an $8-million, 80-unit senior citizen apartment complex in northeast Rockdale have been granted federal tax credits.
And Megan Childers Development of Kansas City is still actively seeking financing, hoping to begin construction in spring, 2012.
City Manager Kelvin Knauf said the development firm announced Friday it had been granted the federal tax credits but did not receive the Home Financing Funds it had sought for Hunter’s Chase Senior Apartments.
“ They are presently seeking other sources of funding,” he said. “It is still hoped construction can begin on time.”
K nauf said the developers and their contractor will be in Rockdale within the next few weeks to meet with officials and continue pursuing the project.
“ We are ver y interested in coming to Rockdale,” Gary Maddock, Megan Childers Development Manager, said. “The study we commissioned showed that Rockdale is an ideal location for this development and we think Rockdale is an excellent com- munity.”
IMPACT—“Local contractors and services will be utilized,” Knauf said. “ The apartments will be within the city limits and residents will pay property taxes. Developers estimate hiring up to five employees to manage, maintain and provide services at the apartments.”
Plans are to construct an 80- unit apartment complex along with a beauty salon, fitness center, men’s and women’s lounges, a patio and a walking trail as amenities.
To qualify to live in the senior apartments, a resident must be 55 years of age or older; if married, one of the spouses must be 55 years or older, and their income must meet restricted levels.
Megan Childers Development anticipates beginning to take pre-applications for the apartments this Fall, if its efforts to secure the needed gap financing are successful.