Hawthorne Place Apartments
The preservation of affordable housing has secured the funding needed to renovate the Hawthorne Place Apartments, Missouri’s largest affordable community. According to The Examiner, who quotes POAH vice president of asset management Kevin Baptista, the company was considering the $ 30 million renovation plans ahead of the coronavirus pandemic. The last major renovations to the 745 unit property were completed in 2003 after POAH purchased the asset.
Hawthorne Place, completed in 1967, encompasses 16995 E. Dover Lane in northeast Independence. The Section 8 ward has one to three bedroom floor plans averaging 906 square feet in a mix of townhouses and apartment buildings. There are 13 playgrounds, a basketball court and laundry facilities in the communal area.
In 2007 POAH built the 22,000 square foot David Stanley Community Center on site. The facility has the Kansas City Boys and Girls Club, pantry, computer room, and Financial Opportunity Center designed to help families grow their incomes through the Family Self-Sufficiency Program.
The parish is 4 miles northeast of downtown Independence and 12 miles east of downtown Kansas City. The property is east of Freeway 291 and less than 1 mile from US Route 24. It can also be reached by public transport.
Real estate improvements in progress
Roanoke Construction is part of the development team implementing the current renovation plan on the property. Upgrades include new HVAC systems and water heaters, some new electrical and plumbing fixtures and appliances, and several fully renovated kitchens and bathrooms. The buildings in the northern part of the site will receive new sidings, sliders and windows. In addition, 13 units will be reconfigured to ensure full ADA compliance. All renovation work will be carried out with the residents on site.
Project funding came from both public and private sources. The Independence Development Authority provided $ 40.4 million in tax-exempt bonds, while the Missouri Housing Development Commission granted low-income residential property tax credits of $ 3.5 million annually. Additional funding came from Boston Financial in the form of approximately $ 33 million in tax credits. In addition, Boston Private and UMB Bank secured construction and permanent loans.
POAH owns and operates more than 12,000 affordable units in 11 states and the District of Columbia. In November, the nonprofit received an affordable $ 36.5 million financing package to develop an affordable, 135-unit, labor-sharing community in Boston.