Deerfield Village Apartments
Located in Carthage, a city in Missouri's southwest corner very near the Kansas and Oklahoma borders, Deerfield Village represents one-third of the affordable family housing available to the approximately 15,000 residents. The property's rents have a long-term contractual subsidy which holds them at no more than 60% of the area's median income. Families are charged 30% of their household income as monthly rent.
Working closely with the Missouri Housing Development Commission (MHDC), the POAH team crafted a financing package which included tax-exempt bonds, equity from the sale of Low Income Housing Tax Credits, and a new mortgage from HUD. The property received a variety of building envelope upgrades to help control operating costs like heating and cooling and apartments were updated with new kitchen cabinets, flooring and paint.
- US Department of Housing and Urban Development (HUD)
- Missouri Housing Development Commission (MHDC)