By COLE REIF
Great Bend Post
Great Bend Economic Development is hopeful a $1.425 million grant will
be awarded to the ownership of Zarah Mall to construct up to 24 apartments in
the upper floors of the downtown building. The Great Bend City Council approved
a resolution to support the submission of the Moderate Income Housing (MIH) grant
application that would develop residential units for the property at 1917 Lakin
Avenue.
Justin Pregont, Developer for Pomeroy Develoment, worked on a historic
preservation project in Atchison, Kansas, and told the council the Zarah Mall
apartments would be aimed at households between 60- and 150-percent of the
Department of Housing and Urban Development (HUD) median income.
"Our tenants will be downsizing retirees, nurses, police officers, social workers, maybe instructors at the community college...those quintessential middle-income jobs," said Pregont. "So many times throughout rural America, the only new housing development that's happened in recent decades has been low-income housing tax credit projects. This is for folks making fifty, sixty, seventy thousand dollars a year."
The construction and management for the renovations would be carried out by
Pomeroy Development, MyTown LP and Kustom Floor Designs. The Zarah Mall falls under the MyTown initiative, with the majority is owned by Sheryl Cheely. MyTown was created several years ago and given a loan by the city to foster more downtown businesses with incentives.
Pregont said there
would be roughly six studio apartments rented for approximately $800 a month;
six, two-bedroom units in the $1,200 range and the rest would be one-bedroom
apartments for $1,000 a month.
"Twenty-two of the 24 units would qualify for the MIH designation," said Pregont. "There are two sort of floating units that would allow...maybe there is a new superintendent that moves to town and wants to rent but exceeds the income guidelines. Having a couple units outside of that designation does help with that flexibility."
The Kansas Housing Resources Corporation provides grants to cities with
populations fewer than 60,000.
If awarded the Moderate Income Housing funds, the grant will be carried out by the City of Great Bend. The city would just pass the funds to the owner, with no financial obligation.