HomeMy WebLinkAboutUpdate Documents - BOCC (002)HopeSource Moses Lake Project
Address of Property: N Central Dr, Moses Lake, WA 98837 & 116 E Hill Ave, Moses Lake, 98837
Address Parcel No: 102114000 & 100144000
N Ventral Dr, Moses Lake, WA 98837
116 E Hill Ave, Moses Lake, WA 98837
HopeSource, in partnership with Stewardship Development, LLC, is currently pursuing the
development and rehabilitation of a 64-unit senior and family affordable housing project in
Moses Lake, Washington.
Proiect Summary and Design:
HopeSource is currently under contract to acquire six acres of vacant land located at Parcel ID
102114000 in Moses Lake. The project will include the new construction of 44 units combined
with the rehabilitation of an existing 20-unit apartment community located at 116 E. Hill
Avenue. Together, the development will provide 64 affordable housing units serving families and
seniors age 55 and older, with income levels ranging from 30% to 60% AMI.
The new construction component will consist of one four-story building with two elevators and
parking at a ratio of two spaces per unit. The 44 newly constructed units will be dedicated
exclusively to seniors age 55 and older and will include:
0 8 studio units (approximately 524 square feet each)
9 36 one -bedroom units (approximately 624 square feet each)
The rehabilitation component includes an existing 20-unit apartment building, all of which are
two -bedroom units at approximately 700 square feet each. These units will serve families, with
anticipated rehabilitation costs of approximately $80,000 per unit.
Both sites will offer resident services provided by HopeSource's Moses Lake -based team,
ensuring access to supportive programming tailored to the needs of seniors, families, and
households transitioning out of homelessness.
I In;+ Kniv.
The project allocates 100% affordability.
A,M[ Target
DedGaed
30% AM 1
16 units
-40% AMI
32 units
60% AM 1
16
[Total # of Units
64 units
Fun
The project will apply for and anticipates receiving the following sources of funding:
Total Development Cost 1 $29,110,105 1