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GLADSTONE — The Gladstone Housing Commission held a public input meeting to present and discuss their plans for a new low-income senior living residence. Currently, Gladstone has two buildings, the Fairview and Bayview Manors.
However, both buildings are nearing fifty years old and the cost of necessary improvements is significantly higher than the government capital funds that are provided to HUD housing. In fact, Michael Lindahl, Executive Director of the housing commission, said that he did not anticipate receiving any capital funds from the government next year. They typically receive about $90,000 per year; still too little to cover the maintenance issues at the manors.
Therefore, the Gladstone Housing Commission has partnered with Premier Property Management LLC to create a plan of action to build a new residence for seniors age 55 and older.
Robert Beale, President of Premier Property Management, says, “My goal in this is really to help guide the housing commission through the process and help them get to the end goal that they want to achieve, in terms of re-establishing, rebuilding new quality affordable housing for seniors here in Gladstone. They have an issue, we’re trying to solve it.”
The prospective land is on Railway Avenue between 5th and 6th Avenue. The building would sit on 6 acres of land and have 126 apartments as well as a community room, hair salon, and movie theater.
The cost of the construction is approximately 20 million dollars, with development being another 20-25 million. A large portion of funding for this project will come from low-income tax credits, as a result of the building housing low-income and subsidized residents. However, an extensive and competitive application must be filled out and approved by the government before any construction can begin. Applications are only accepted twice per year, in October and April.
If all goes according to plan, construction will begin in the spring of 2020 and will be completed in phases. That way some residents can move in and live in the building before full construction is complete.
All residents of Bayview and Fairview Manors will be able to move into the new building, if they choose. There will be no rent price increase for the new building. All rent is based on the monthly income of the resident.
For more information on income requirements and senior housing in Gladstone, visit the housing commissions website here.