A new housing complex for seniors and homeless veterans will break ground this fall.
The Pickett Place Apartments, at 2501 S. 36th St., will be a senior housing development with a total of 36 units, as well as four separate units set aside for at-risk homeless veterans, said Megan Word, a spokeswoman for the Missouri Housing Development Commission. It will be located just north of Pickett Road, not far from the Belt Highway.
The total cost of the development is estimated at $5.6 million, with about $1.3 million in funding coming from the Federal HOME Program funds.
Construction is set to begin in October and should be completed in 12 months. Pickett Place will consist of eight one-bedroom units and 28 two-bedroom units, besides the four veterans’ units.
The developer is Miller O’Reilly Co., and the general contractor is Build; both companies are located in Springfield, Mo. The current owners of the land are Dale and Kathy Kissel.
According to market studies, Ms. Word said there was clearly a demand. The last comparable apartment complex to be built in St. Joseph was ChapelRidge, in 2006.
She said the demand estimate indicated that there are sufficient income-eligible households in the area.
“Interviews with property managers report strong demand for two-bedroom, unit-type, affordable housing,” the report stated. “If (Pickett Place) is properly marketed and pre-leasing begins approximately three months prior to completion of construction, the 36 affordable units are anticipated to be completely absorbed into the market within six months of completion.”
The MHDC is the state’s housing finance agency and helps to administer state and federal programs designed to increase the availability of affordable housing options.
The new apartment complex was approved in the second round of applications last November and approved for project funding in February.