Three Affordable Housing Projects In Fargo Approved For Funding

Fargo ND

18 December, 2020

9:36 AM

Description

Press release from the City of Fargo: December 16, 2020 Three affordable housing projects have been approved for funding by the North Dakota Housing Finance Agency. Two of the projects received property tax exemptions approved by the Fargo City Commission to assist the developers. "The City of Fargo is committed to helping foster a housing market that is affordable and provides high quality-of-life for our residents and workforce. I am proud to see projects focusing on affordable housing. The Fargo community's senior population is growing and these new projects help meet that demand," said Fargo Mayor Dr. Tim Mahoney. Developer Beyond Shelter Incorporated (BSI) is constructing one Downtown neighborhood project, the Milton Earl, and a south Fargo development, HomeField III. Together, the two will provide 81 affordable housing units for the 55-and-older community. The Milton Earl project was a result of efforts by the developer, tax exemptions and land provided by the City of Fargo and a lot sale by Kilbourne Group. "The Milton Earl will be a quality new affordable senior housing project that will serve Fargo's flourishing downtown neighborhood and the Beyond Shelter, Inc. Board of Directors, Team and myself are excited to be working with the City of Fargo and the North Dakota Housing Finance Agency to develop the Project," said Dan Madler, Chief Executive Officer for BSI. Commonwealth Development Corporation is constructing one of the housing projects, known as the City Flats. This development will provide 42 affordable units in the Downtown Fargo neighborhood and is the result of a collaboration between the developer, the City of Fargo, which provided property tax exemptions, and Kilbourne Group, which sold property for the City Flats project. "Kilbourne Group values affordable housing and knows how vital it is to have a diversity of housing options in downtown Fargo. We purchased the land parcels years ago with the intent to hold them for just this purpose, as they are prime sites for affordable housing projects. We thank all the people and organizations who worked together to make these projects possible in 2021 and many more in the future," said Kilbourne Group President Mike Allmendinger. This press release was produced by the City of Fargo. The views expressed here are the author's own.