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$12 million Awarded for Affordable Housing in South Dakota





For Immediate Release: November 17, 2020
For More Information Contact:  Mark Lauseng, Executive Director, 773.3181


$12 million Awarded for Affordable Housing in South Dakota

 

PIERRE, S.D. – South Dakota Housing Development Authority’s (SDHDA) Board of Commissioners today awarded more than $12 million to assist South Dakotans with newly constructed multifamily housing, single family housing, homebuyer assistance, homeowner rehabilitation, and homelessness prevention. 

 

The developments will receive $3.7 million in Housing Tax Credits, $4.6 million in HOME Investment Partnership Program funds, $1.5 million in Housing Opportunity Funds and $2.4 million in Housing Trust Funds.

 

The 20 projects funded will provide South Dakotans with 273 newly constructed and 16 rehabilitated multifamily housing units and four single-family homes. The approved funding will provide downpayment assistance for 61 households, homeowner rehabilitation for 28 homeowners and provide services and financial support for 14 households who are homeless or at risk of becoming homeless.

 

“Funding is awarded annually to developers through a highly competitive application process,” said Executive Director Mark Lauseng. “This year was no exception, with 31 applications received requesting more than $18 million.”

 

“The developments funded will result in over $51 million in total development costs, preserving and strengthening South Dakota’s affordable housing stock,” said David Pummel, SDHDA board chairman. “The affordable housing units will help low-income families, elderly residents, individuals with disabilities and homeless citizens with a place to call home.”

 

Below is information regarding funded recipients:

 

Development name: Auburn Apartments
Development location: 815 E. Prescott St., Tea
Developer: Grandview, LLC
Housing Tax Credits reserved: $478,485 ($4,114,974 in HTC equity)
HOME Funds reserved: $600,000
Housing Trust Funds reserved: $296,600
Development summary: The new construction of a three-story apartment building containing 30 housing units for families at or below 80 percent of the area median income. There will be six one-bedroom units, 16 two-bedroom units and eight three-bedroom units.

 

Development name: Britton Apartment Renovation
Development location: 908 11th Ave., Britton
Developer: SLH Holdings, LLC
Housing Opportunity Funds committed: $342,000
Community Housing Development Program funds committed: $500,000
Development summary: The acquisition and rehab of an apartment building containing 16 housing units for individuals and families at or below 115 percent of the area median income for Marshall county. There will be 13 two-bedroom units and three three-bedroom units.

 

Development name: Edgebrook Townhomes
Development location: TBD Ace Ave., Brookings
Developer: G.A. Haan Development, LLC
Housing Tax Credits reserved: $678,181 ($5,764,539 in HTC equity)
HOME Funds reserved: $1,000,000
Development summary: The new construction of four apartment buildings containing 40 housing units for individuals and families at or below 80 percent of the area median income. There will be twenty two-bedroom units and twenty three-bedroom units.

 

Development name: Habitat for Humanity Black Hills – E. Van Buren Construction
Development location: 130 E. Van Buren, Rapid City
Developer: Black Hills Area Habitat for Humanity
Housing Opportunity Funds committed: $75,000
Development summary: The new construction of a single-family home on a in-fill lot containing four bedrooms and one bathroom for a homebuyer at or below 70 percent of the area median income for Pennington county.

 

Development name: Habitat for Humanity Brookings Area – Brookings/Aurora Homes
Development location: 311 8th Ave., Brookings; 418 Walnut, Aurora
Developer: Brookings Area Habitat for Humanity
Housing Opportunity Funds committed: $149,900
Development summary: The new construction of two single family homes. The Brookings home will contain two bedrooms and one bathroom for a homebuyer at or below 80 percent of the area median income for Brookings county. The Aurora home will be a multigenerational home with five bedrooms and two bathrooms for a family at or below 80 percent of the area median income for Brookings county.

 

Development name: Habitat for Humanity of Greater Sioux Falls – Building Homes, Building Neighborhoods
Development location: 505 N. Daisy Ave., Sioux Falls
Developer: Habitat for Humanity of Greater Sioux Falls
Housing Opportunity Funds committed: $85,000
Development summary: The new construction of a single-family home containing four bedrooms and two bathrooms for a homebuyer at or below 80 percent of the area median income for Minnehaha county.

 

Development name: Heartland Heights Apartments
Development location: TBD N. DeGeest Dr., Rapid City
Developer: Heartland Heights, LLC
Housing Tax Credits reserved: $587,336 ($4,933,620 in HTC equity)
HOME Funds reserved: $1,000,000
Development summary: The new construction of an apartment building containing 41 housing units for individuals and families at or below 60 percent of the area median income. There will be 18 one-bedroom units, 15 two-bedroom units and eight three-bedroom units. Rapid City Club for Boys will provide memberships and other services at the Club for residents.

 

 

Development name: Jefferson Village Apartments
Development location: 401 W. Innovation St., Sioux Falls
Developer: Y Housing V, LLC
Housing Tax Credits reserved: $413,815 ($3,476,050 in HTC equity)
Development summary: The new construction of a three-story apartment building containing 29 housing units for individuals and families at or below 60 percent of the area median income. There will be nine one-bedroom units, 12 two-bedroom units and eight three-bedroom units. Sioux Falls Family YMCA will make services and programs available to tenants at a free or reduced rate.

 

Development name: LifeScape Dignity Home
Development location: 705 S. Blauvelt Ave., Sioux Falls
Developer: South Dakota Achieve, Inc. dba LifeScape
Housing Trust Funds reserved: $791,200
Development summary: The new construction of a duplex apartment building containing 8 housing units for young adults ages 18-24 with developmental, mental and/or behavioral disabilities at or below 30 percent of the area median income. There will be eight single room occupancy units. 

 

Development name: Pennbrook Apartments
Development location: TBD 34th St., Spearfish
Developer: Costello Investments, LLC
Housing Tax Credits reserved: $750,000 ($6,450,000 in HTC equity)
HOME Funds reserved: $1,000,000
Housing Trust Funds reserved: $514,000
Development summary: The new construction of two, three-story apartment buildings containing 62 housing units for individuals and families at or below 60 percent of the area median income. Seven units will be market rate. There will be 12 one-bedroom units, 34 two-bedroom units and 16 three-bedroom units. 

 

Development name: The Simply Smiles Children’s Village: Foster Home #2
Development location: 27249 Hwy 212, La Plant
Developer: Simply Smiles, Inc.
Housing Opportunity Funds committed: $158,000
Development summary: The new construction of a single-family home to be utilized as a foster home containing four bedrooms and three and a half bathrooms.

 

Development name: Vineyard Heights Apartments
Development location: TBD S. Vineyard Ave., Sioux Falls
Developer: St. Joseph Catholic Housing, Inc.
Housing Tax Credits reserved: $750,000 ($6,450,030 in HTC equity)
HOME Funds reserved: $1,000,000
Housing Trust Funds reserved: $816,000
Development summary: The new construction of two, three-story apartment buildings containing 62 housing units for families at or below 80 percent of the area median income. There will be 12 one-bedroom units, 34 two-bedroom units and 16 three-bedroom units. 

 

Program name: Four Bands Community Fund – Homebuyer Assistance Program
Program location: Cheyenne River Sioux Tribe Reservation
Developer: Four Bands Community Fund
Housing Opportunity Funds committed: $114,000
Program summary: Funding for homebuyer assistance that will assist an estimated 11 persons at or below 115 percent of the area median income for the respective county.

 

Program name: GROW South Dakota – Rural Downpayment and Closing Cost Assistance Program
Program location: Rural South Dakota
Developer: GROW South Dakota
Housing Opportunity Funds committed: $126,075
Program summary: Funding for homebuyer assistance that will assist an estimated 24 persons at or below 115 percent of the area median income for the respective county.

 

Program name: GROW South Dakota – Urban Downpayment and Closing Cost Assistance Program
Program location: Sioux Falls and Rapid City
Developer: GROW South Dakota
Housing Opportunity Funds committed: $125,400
Program summary: Funding for homebuyer assistance that will assist an estimated 25 persons at or below 115 percent of the area median income for the respective county.

 

Program name: Huron Housing Authority – Rehab Program
Program location: Huron
Developer: Huron Housing Authority
Housing Opportunity Funds committed: $88,000
Program summary: Funding for a homeowner rehabilitation program that will assist an estimated 16 persons at or below 80 percent of the area median income for Beadle county.

 

Program name: Inter-Lakes Community Action Partnership – Rural ESG Grant Match Program
Program location: Scattered sites in eastern South Dakota
Developer: Inter-Lakes Community Action Partnership
Housing Opportunity Funds committed: $48,950
Program summary: Funding for homelessness prevention activities that will assist an estimated seven persons at or below 30 percent of the area median income for the respective county.

 

Program name: Inter-Lakes Community Action Partnership – Urban ESG Grant Match Program
Program location: Sioux Falls
Developer: Inter-Lakes Community Action Partnership
Housing Opportunity Funds committed: $48,950
Program summary: Funding for homelessness prevention activities that will assist an estimated seven persons at or below 30 percent of the area median income for the respective county.

 

Program name: Inter-Lakes Community Action Partnership – Owner Occupied Housing Rehab Program
Program location: Scattered sites in eastern South Dakota
Developer: Inter-Lakes Community Action Partnership
Housing Opportunity Funds committed: $114,000
Program summary: Funding for a homeowner rehabilitation program that will assist an estimated nine persons at or below 50 percent of the area median income and four persons at or below 30 percent of the area median income for the respective county.

 

Program name: NeighborWorks® Dakota Home Resources – Urban Homeowner Rehab Program
Program location: Scattered sites in western South Dakota
Developer: NeighborWorks® Dakota Home Resources
Housing Opportunity Funds committed: $40,975
Program summary: Funding for a homeowner rehabilitation program that will assist an estimated three persons at or below 80 percent of the area median income for the respective county.

 

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South Dakota Housing Development Authority (SDHDA) was created by the South Dakota Legislature in 1973 with a stated mission to provide decent, safe, and affordable housing to low and moderate income South Dakotans. SDHDA is a self-supporting, nonprofit entity. SDHDA utilizes housing bonds, tax credits, and other federal and state resources to fund housing programs which provide mortgage and downpayment assistance, housing construction and rehabilitation, homelessness prevention, and rental assistance. SDHDA does not discriminate against any person because of race, color, creed, religion, sex, disability, familial status or national origin. For more information, visit www.sdhda.org.

 

The South Dakota Housing Development Authority…Building a Better Quality of Life.