POAH - Preservation of Affordable Housing

The Preservation Challenge
Webb City is a growing municipality, benefiting from its proximity to Interstate 71 (the road north to Kansas City) and Interstate 44 (the road north to St. Louis). The town of 10,000, a close neighbor to Joplin and the Joplin Airport, also attracts families to its good quality schools. Nevertheless, residents of Webb City face financial challenges: 45% of moderate-income households spend one-third of their incomes on housing. For those earning minimum wage, the burden is even higher. Maplewood Manor is one of only two privately-owned apartment complexes offering rent subsidies to low-income households.

POAH’s Role
POAH purchased Maplewood Manor as part of its initial Missouri portfolio in 2001. The development, which was constructed in 1980, includes 11 garden-style residential buildings and a community center on a ten acre campus. Although the development is largely rented to families, eight of the one-bedroom units on the site have traditionally been set aside for elderly residents.

Financing for POAH's purchase came from the Missouri Housing Development Commission, a preservation-minded ally. All of the rents at Maplewood Manor are guaranteed under a project-based Section 8 contract with HUD; qualified residents pay 30% of their incomes for rent, but when they move on, the rent subsidy remains in place at the property, available for new families facing financial need.

1802 South Oronogo Webb City, MO 64870 Maplewood Manor represents half of the privately-owned subsidized rental housing in Webb City, an attractive town near Joplin and the Joplin Airport. POAH purchased the complex in 2001 to ensure its long-term affordability.	Project Partners • Missouri Housing Development Commission (MHDC) • US Department of Housing and Urban Development (HUD) The Preservation Challenge Webb City is a growing municipality, benefiting from its proximity to Interstate 71 (the road north to Kansas City) and Interstate 44 (the road north to St. Louis). The town of 10,000, a close neighbor to Joplin and the Joplin Airport, also attracts families to its good quality schools. Nevertheless, residents of Webb City face financial challenges: 45% of moderate-income households spend one-third of their incomes on housing. For those earning minimum wage, the burden is even higher. Maplewood Manor is one of only two privately-owned apartment complexes offering rent subsidies to low-income households. POAH’s Role POAH purchased Maplewood Manor as part of its initial Missouri portfolio in 2001. The development, which was constructed in 1980, includes 11 garden-style residential buildings and a community center on a ten acre campus. Although the development is largely rented to families, eight of the one-bedroom units on the site have traditionally been set aside for elderly residents. Financing for POAH's purchase came from the Missouri Housing Development Commission, a preservation-minded ally. All of the rents at Maplewood Manor are guaranteed under a project-based Section 8 contract with HUD; qualified residents pay 30% of their incomes for rent, but when they move on, the rent subsidy remains in place at the property, available for new families facing financial need.
© Preservation of Affordable Housing