POAH - Preservation of Affordable Housing

The Preservation Challenge
Monroe Estates includes seven buildings nestled in a solid residential neighborhood of Lebanon. Its layout is unusual for the POAH portfolio, combining a multi-story building designated as housing for the elderly with six low-rise family structures, all on a site just larger than five acres. Lebanon, located on I-44, the highway connecting St. Louis with Tulsa, Oklahoma over a part of the famed "Route 66", is a growing city with a thriving commercial district. However, one in six Lebanon families experiences a 'severe housing burden', meaning they spend 50% of their household income on housing costs, making affordable housing like Monroe Estates an especially valuable asset.

POAH’s Role
The Monroe Estates property is one of 14 Missouri sites which POAH purchased to preserve their long-term affordability. In Lebanon, this one development represents half of the inventory of privately-owned subsidized rental housing. POAH's purchase was made possible with assistance from the Missouri Housing Development Commission (MHDC); rents at the property, which historically has operated at close to 100% occupancy, are underwritten by HUD, which allows families earning low wages and elders on fixed incomes to pay only 30% of their incomes in rent. Residents of Monroe Estates are in easy walking distance to shopping, restaurants and churches in the community.

601 North Monroe Lebanon, MO 65536 The Monroe Estates site combines a multi-story building for elderly residents with six garden-style buildings for families. the property represents about half of the privately-owned subsidized rental housing in Lebanon, a growing community with easy access to I-44.	Project Partners • Missouri Housing Development Commission (MHDC) • US Department of Housing and Urban Development (HUD) The Preservation Challenge Monroe Estates includes seven buildings nestled in a solid residential neighborhood of Lebanon. Its layout is unusual for the POAH portfolio, combining a multi-story building designated as housing for the elderly with six low-rise family structures, all on a site just larger than five acres. Lebanon, located on I-44, the highway connecting St. Louis with Tulsa, Oklahoma over a part of the famed "Route 66", is a growing city with a thriving commercial district. However, one in six Lebanon families experiences a 'severe housing burden', meaning they spend 50% of their household income on housing costs, making affordable housing like Monroe Estates an especially valuable asset. POAH’s Role The Monroe Estates property is one of 14 Missouri sites which POAH purchased to preserve their long-term affordability. In Lebanon, this one development represents half of the inventory of privately-owned subsidized rental housing. POAH's purchase was made possible with assistance from the Missouri Housing Development Commission (MHDC); rents at the property, which historically has operated at close to 100% occupancy, are underwritten by HUD, which allows families earning low wages and elders on fixed incomes to pay only 30% of their incomes in rent. Residents of Monroe Estates are in easy walking distance to shopping, restaurants and churches in the community.
© Preservation of Affordable Housing