Houston Plaza Apartments
At the time of acquisition, the 34 homes for low-income seniors at Houston Plaza were the only rent-subsidized housing in Adrian, a small Missouri town of less than 2,000 which benefits from its location near highways connecting it to Kansas City, Springfield and Joplin. Preserving this housing asset when it came up for sale was an important investment in this town and its residents.
With the support of the Missouri Housing Development commission, POAH purchased a portfolio of Missouri properties in 2001, including Houston Plaza, leveraging tax-exempt debt and equity from the sale of Low Income Housing Tax Credits. Because the property has a project-based Section 8 contract, its apartments will remain affordable for current and future residents.
The complex, built in 1980, includes 9 one-story residential buildings as well as a separate community center and management office, all on a spacious, five acre site. The town's central business district is within walking distance, and the property has historically been fully occupied.
- Missouri Housing Development Commission (MHDC)
- US Department of Housing and Urban Development (HUD)