Tag:Stellar Region

LaPaz Commons Apartments Ground Breaking

LaPaz Commons Apartments is part of the Riverside Commons Apartment project. The project is a LIHTC project through IHCDA. Last Fall we held a ground breaking for Plymouth to celebrate their portion of the project. Now we are going to celebrate LaPaz‘s portion.

The Riverside Commons project was part of Marshall County Crossroad‘s Stellar Region application. Marshall County’s successful designation as a Stellar Region allowed us to use an IHCDA Stellar Set-Aside to successfully obtain tax credits for this project. We still had to obtain every possible point allowed for the sites as set out by the IHCDA QAP, but the set-aside gave us a boost. It’s very competitive for rural LIHTC projects (all of Marshall County is Rural per IHCDA), so the set-aside was critical to receiving this award.

We are working on some renderings, but the LaPaz Commons apartments will be all townhomes and look very similar to those we built at The Paddocks in Culver. (See the rendering to the right.) There will be 6 two story townhouses and two accessible flats. There will also be a community room including an administration office and a laundry room. The townhomes will front on Troyer Street, just off Michigan Street. Currently Troyer Street is unimproved, but the Town of LaPaz will be upgrading this street to accommodate LaPaz Commons. The Town has been very supportive and has already brought in some stone to give us an area to get off the road onto Troyer Street.

We are happy to be working with the Town of LaPaz on this project and hope you will come out and help them celebrate this addition to their community.

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