Crestview Village Apartments (MO)
Built in 1980, Crestview Village is one of 14 properties purchased by POAH as its first portfolio acquisition following its founding in 2001. The $22 million purchase saved 915 affordable homes for seniors and low-income families in a dozen Missouri locations including 48 at Crestview Village. At the time of acquisition, Crestview Village represented 25% of Liberty's affordable housing stock.
The portfolio was among the first in the country to participate in the HUD 'Mark-to-Market' program, through which rents at expiring use properties are set consistent with those at comparable nearby developments, with debt restructured to levels supportable by the new rents.
Crestview Village comprises ten buildings nestled in an attractive neighborhood of single family homes within close walking distance to historic downtown Liberty. POAH worked closely with the Missouri Housing Development Commission (MHDC) to preserve Crestview Village and the associated properties.
As part of the financing package, POAH arranged upgrades and improvements to the site, including new siding and windows.
- US Department of Housing and Urban Development (HUD)
- Missouri Housing Development Commission (MHDC)
Awards and Accolades
POAH was honored to receive the 2002 Missouri Governor's Award for Excellence in Affordable Housing.