East Side Housing

East Side Housing Project Description:

64 total units (27 total buildings)
Multiple Address, Broken Bow, Oklahoma 74728
Multifamily 2,3,4 Plexes
Rehabilitation

Unit Make Up

1 three-bedroom unit at 60% AMI at $656 a month
10 three-bedroom units at 50% AMI at $656 a month
4 three-bedroom units at 30% AMI at $656 a month
38 two-bedroom units at 60% AMI at $656 – $950 a month – have vouchers
6 two-bedroom units at 50% AMI at $800 – $950 a month – have vouchers
5 two-bedroom units at 30% AMI at $800 – $950 a month – have vouchers

The total project cost of the East Side Housing project is over $8 million; the funding of the project is comprised of: tax credit equity (Federal) of $5,897,936, National Housing Trust Funds (NHTF) of $1,102,739, HOME Investment Partnership Funds (HOME) of $500,000, and permanent financing of $795,326.

General Partner/Management Company/Co-Developer: Broken Bow Housing Authority
Developer: Excel Development Group
State Allocating Agency: Oklahoma Housing Finance Agency
Syndicator: CREA
Construction/Perm Lender: Horizon Bank
Engineer: Broken Bow Housing Authority
Architect: Blackledge & Associates