Southern Hills Senior Homes Ribbon Cutting
https://www.wibw.com/2024/08/13/southern-hills-senior-homes-opens-new-affordable-senior-housing/
Topeka, KS: Cornerstone of Topeka and Excel Development Group are hosting a Ribbon Cutting Ceremony for the Southern Hills Senior Homes development at 11 AM on August 13th, 2024, in the Southern Hills Senior Homes Community Building located at SE 38th St and SE Adams St, Topeka, Kansas 66605. The Ribbon Cutting will celebrate the completion of the Southern Hills Senior Homes affordable senior (55+) housing development which consisted of the new construction of 12 duplexes (24 units) and a Community Building. The new homes allow our Kansas seniors to age in place and be able to stay in Kansas.
“Cornerstone of Topeka is excited to partner in the largest new construction development in our history! Affordable housing, especially for seniors, is in high demand and we are happy to continue our work to address that challenge.” – Chris Palmer, Executive Director, Cornerstone of Topeka
The Southern Hills Senior Homes Development was Awarded the Following
- $625,000 of Federal Low-Income Housing Tax Credits (LIHTC) for 10 years and $1.5 million of HOME Investment Partnership Funds from the Kansas Housing Resources Corporation (KHRC)
Permanent Financing from Horizon Bank of $341,334 rounded off the total capital stack for the $7,184,550 affordable housing development.
“We are pleased to join with Excel Development Group, Cornerstone of Topeka, and our development partners to expand housing opportunities for Kansas seniors,” said Alissa Ice, Housing Development Director at Kansas Housing Resources Corporation (KHRC). “Southern Hills will provide 24 affordable, quality homes, enabling residents to live with dignity and independence.”
All 24 units in the Southern Hills Senior Homes development are two bedrooms and one bathroom with 1,034 sq. ft. of living space, 292 sq. ft. of garage space, 1,326 total sq. ft. They all have single levels with exterior features such as partial brick and landscaping. Amenities include a community building, single-car garage, washer, dryer, dishwasher, refrigerator, stove, storage area, and a rear patio. All units are maintenance-free with lawn care and snow removal provided. 17 units are target to seniors making at or below 60% of the area median income (AMI) and pay $650 a month in rent, 1 unit is at 40% AMI and $525 a month, and 4 units are at 30% AMI and $400 a month. Water, sewer and trash services are provided by the owner.
“The Southern Hills Senior Homes development is a welcome and needed addition to Topeka.” commented Brad Reiff, Director of Acquisitions at Midwest Housing Equity Group (MHEG). “To bring this project online took many partners working together. My compliments to the Cornerstone of Topeka, Excel Development Group and the Kansas Housing Resources Corporation for facilitating this quality affordable housing development.”
According to the Kansas Housing Statewide Housing Needs Assessment conducted in 2021 Kansans are aging. According to the study the 65- to 74-year-old population grew the fastest since 2010, and more attention is needed for accessible options and housing to age in place across the State. The study also found that 43.49% of Shawnee County renters are cost burdened meaning they pay more than 30% of their income towards rent. Many Kansans mention Opportunities for Seniors with accessible and universal design for an aging population as a major need in the surveys that were conducted for the Kansas Housing Statewide Needs Assessment. The Southern Hills Senior Homes affordable housing project will help solve two of the concerns identified in the study:
- Lack of Senior Housing Options for an aging Kansas Demographic
- Lack of affordable rental housing
“We’re very proud to be a part of the Southern Hills Senior Homes project and our continued partnership with Cornerstone of Topeka in helping provide another high-quality affordable housing option to the Topeka community.” – Brent Williams, President, Excel Development Group
“I am so glad to see our wonderful partners at the Kansas Housing Resources Corporation working with Cornerstone of Topeka, Inc., and Excel Development Group to use HUD’s HOME Investment Partnership funds to bring new senior housing to the state,” said HUD Great Plains Regional Administrator Ulysses Clayborn. “These HOME funds are an example of the Biden-Harris Administration’s commitment to ensuring that our nation’s seniors have access to quality affordable housing.”
Development Team:
Cornerstone of Topeka – General Partner and Property Manager
Excel Development Group – Developer
Kansas Housing Resources Corporation (KHRC) – LIHTC State Allocating Agency & HOME Funds
Midwest Housing Equity Group – Federal Tax Credit Syndicator
Horizon Bank – Construction and Permanent Loan Financer
Shirley Construction – General Contractor
Architectural Design Associates – Architect
REGA Engineering – Engineer
SBB Engineering – Engineer
Cornerstone of Topeka: The organization began with a short-term Transitional Housing Program, providing housing and resources to assist individuals and families experiencing homelessness to get back on their feet. In 1990, Cornerstone expanded services to provide permanent affordable housing. Cornerstone currently has 179 housing units consisting of single-family Homes, Duplexes and a few fourplexes. Twenty-three of these units are dedicated to providing housing to the homeless population at a very low rent with all utilities paid. Approximately 80% of our tenants receive no rent subsidy.
About Excel Development Group: Excel Development Group is a development, property management and consulting firm specializing in affordable housing for over 34 years. Excel Development Group has completed over 2,500 low- to moderate-income, and market-rate units totaling over $300 million in development throughout the Midwest. Excel Development Group creates partnerships with not-for-profit and for-profit housing organizations, community organizations and city, county, and state agencies to produce high-quality affordable housing.
