Aldermen support was unanimous for a senior affordable housing rehabilitation project.
The project, led by IRC (Investment Resources Corporation) Manager, LLC is located at the Branson Manor Apartments, 218 South Old County Road, which provides rental assistance housing to individuals aged 62 and older who qualify.
The purpose of receiving the support is so the applicant can use it to go with their funding applications to the Missouri Housing Development Commission (MHDC).
“We’re putting in a tax credit application on a project there in Branson called Branson Manor which is a senior housing project,” said Vice President of IRC, Santo M. Catanese Jr. “We are putting in a tax right application with MHDC for the renovation of the project and we were looking for a letter of support for the rehab of the project to go with our tax credit application.”
According to the staff report provided by the city of Branson, the proposed project is said to include substantial renovations to the existing 80, one bedroom rental units, within the five-story apartment complex.
“We’re focusing mainly on all of the mechanical systems, meaning heating and air which all has not been touched since 1981; all the plumping that’s corroded,” said Catanese, when asked questions by the aldermen. “Throughout the project, we’ve got two elevators that need to be updated, we’re putting in all new Energy Star windows and sliding doors and updating cabinetry throughout the project.
“It’s five stories on one side and three stories on the other. My understanding is, and this would be more of a question for probably my partner, but yeah I believe we will be doing sprinklers. We’re going to be completely coded.”
According to Catanese, Branson Manor Apartments was built in 1981 and all of their facilities have an extensive waiting list, when asked by Alderman Bob Simmons.
“We still have an ongoing waiting list,” said Catanese. “We actually submitted this application a number of times, this will be our third year in a row submitting it to MHDC for the rehab. We’ve been told that we’re pretty much in line to get this but the project, all of our Section 8 senior facilities, they all have waiting lists in the state of Kansas and Missouri.”
According to the report, IRC Manager, LLC is a Wichita, Kansas based Real Estate Development Company that specializes in the development and rehabilitation of existing Section 8, Section 42 and market rate apartments.
For more information visit the “Agenda Center” at bransonmo.gov or view the live streamed video of the meeting at the city’s YouTube page ‘CityofBranson’.