Affordable Housing Project in Watford City Receives $1.247 Million Commitment
BISMARCK, N.D. – A recent Watford City project award brings the state’s total Housing Incentive Fund (HIF)
commitment in McKenzie County since the program began in 2011 to more than $8.4 million. The program has leveraged $47 million in construction financing in the county to create 280 new affordable housing units.
“North Dakota’s Housing Incentive Fund is one of several tools used to facilitate the development of affordable housing throughout the state,” Gov. Jack Dalrymple said. “Our strategies to expand the development of affordable housing are working and we will continue to support this important development.”
“In the last three years alone, the state has invested nearly $50 million to support the development of more than 1,500 affordable housing units statewide,” said Agriculture Commissioner Doug Goehring. “This project is a great example of our commitment to expanding the development of affordable housing for fixed-income residents and employees who provide essential services in our rapidly growing communities,” said Attorney General Wayne Stenehjem.
McKenzie Park Apartments was selected to receive $1.247 million in development support from HIF following a recent funding round. The $10.26 million complex will include six units for households earning up to 80 percent of Area Media Income (AMI). Forty-one units will be reserved for Essential Service Workers (ESW) earning up to 140 percent of AMI. The remaining 13 units will rent at market rate without income restrictions.
HIF is administered by North Dakota Housing Finance Agency (NDHFA). The program provides developers of affordable housing with low-cost financing.
“NDHFA’s mission is to ensure that everyone in our state has access to affordable housing,” said Executive Director Jolene Kline. “We continue to work with the Industrial Commission members to address North Dakota’s housing needs and we are grateful for the partnership with G.A. Haan Development that will provide Watford City with these housing options.”
Haan, developer of the McKenzie Park Apartments, also received a $3.7 million commitment from McKenzie County to support the installation of infrastructure and assist with construction costs. The county chose to make the commitment because of the project’s focus on housing individuals who provide essential community services including education, medical and law enforcement. McKenzie Park Apartments will begin development this fall.
G.A. Haan Development is based in Harbor Springs, Mich. McKenzie Park Apartments will be the developer’s fifth affordable housing project in North Dakota.
NDHFA is a self-supporting state agency that finances the creation and rehabilitation of affordable housing across North Dakota. The North Dakota Industrial Commission, consisting of Governor Jack Dalrymple as chairman, Attorney General Wayne Stenehjem and Agriculture Commissioner Doug Goehring, oversees the agency.