Woodlen Place Apartments
Woodlen Place is located in the southeastern section of Kansas City called Indian Village. The attractive townhouses of Woodlen Place, set on a grassy 11-acre site, are virtually indistinguishable from the several nearby garden-style apartment complexes. This invisibility, however, made Woodlen Place a likely candidate for conversion to market rate housing as its affordability restrictions neared expiration.
POAH preserved the property’s affordability for at least 15 years by purchasing Woodlen Place in 2004. The financing came from Missouri Housing Development Commission and HUD, and included tax exempt bonds, low interest loans and syndication proceeds from the sale of Low Income Housing Tax Credits (LIHTCs). The funding was sufficient to allow attention to capital items which can help control operating costs, including replacement of all windows, new siding for each building, and upgrades to the heating and cooling systems.
- Missouri Housing Development Commission (MHDC)
- US Department of Housing and Urban Development (HUD)
- Fairway Construction Co
- Wallace Architects, LLC