With Groundbreaking, Beacon Village to Support More Affordable Housing Units
Construction for a new affordable housing complex and latest effort of the Kitchen, Inc. is underway.
Beacon Village II will permanently house 32 additional families, bringing the total number of units at the site to 76. It was the success of the first phase of Beacon Village, which opened last summer, that prompted the project expansion.
“The whole development was completely full,” said Rorie Orgeron, CEO of the Kitchen. “By the time we finished building everything and got the last ribbon cutting done we moved the last person the following day. And I would bet that we are going to have that same success building Beacon Village II as well ”
Before roughly a few dozen supporters, Orgeron and other officials formally broke ground at the site of the new complex. He said focusing on the housing first model has allowed the Kitchen to zero in on permanently ending homelessness for families.
Springfield Mayor Pro Tem Jerry Compton noted that the city is highly interested in the work and success of Beacon Village.
Other partners present at the groundbreaking included Tish Kelly of Alliant Capital, which is helping the Kitchen utilize low-income tax credits for the project.
“Ordinarily Developers don’t have the appetite for the tax credits so they will sell them to an investor who uses these tax credits. That money goes into the development as equity in the project,” said Kelly.
This financial structure includes conventional financing, money from the city and grant programs as well as the investor.
“It is heavily regulated so there is a fifteen year compliance period," she said. "So all of the promises that are made to win these credits thereafter they are heavily monitored to make sure those resources and those services are provided, and that the living conditions meet the level of standard that is required.”
Other collaborators on the project include Housing Plus, L.L.C. and the Missouri Housing Development Commission.
The Kitchen will continue to build permanent housing with this financial structure and even this week submitted a proposal for a similar housing complex for seniors and veterans.
Orgeron added, “They were very, very pleased with Beacon Village I, so that made Beacon Village II a little bit easier to get just because we had a good history and so that’s what we are going to continue to do.”
Support Services at Beacon Village include case management and health screenings from the Kitchen, Inc. and Catholic Charities of Southern Missouri, which are provided at a community center located within the housing development.