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Parkview Terrace II

Parkview Terrace II will bring 48 additional affordable housing units next to the Phase I development in Kirksville, Missouri. Phase II will utilize tax credits from MHDC and city support to provide housing for low-income households. The $15 million development will be led by Terravest Development Corp. and include amenities like a community building and fully-equipped units.

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Matt Gunn
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3K views2 pages

Parkview Terrace II

Parkview Terrace II will bring 48 additional affordable housing units next to the Phase I development in Kirksville, Missouri. Phase II will utilize tax credits from MHDC and city support to provide housing for low-income households. The $15 million development will be led by Terravest Development Corp. and include amenities like a community building and fully-equipped units.

Uploaded by

Matt Gunn
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Parkview Terrace II

Kirksville, Missouri

Parkview Terrace II is a planned new construction family apartment community which would bring up to
48 additional affordable housing units right next door to Phase I on E Mill St. Parkview Terrace is currently
under construction and has received a considerable number of inquiries from future residents who are
excited about unit types and price points. Phase I will offer 2, 3, and 4-bedroom unit types with rents
affordable for both 30% AMI and 60% AMI households as well as unrestrict market rate units. Phase II will
generally reflect a similar unit mix depending on how many buildings we can reasonably fit on the subject
site.

Phase II will also utilize tax credit funding from MHDC and city support will help show that city leadership
is aligned with our initiative to provide more affordable housing to the community. Applications are due
on 9/23 and approved development proposals will likely be announced in early to mid-December.

The development team will be led by Jay Burchfield with Terravest Development Corp. Other members of
the development team will include Fairway Construction, Fairway Management, Affordable Equity
Partners, Rosemann & Associates (architect), and Engineering Surveys & Services (civil engineer). This is
the same team that developed Baltimore Meadows and Parkview Terrace.

General Partner: JB Housing, LLC


Developer: TerraVest Development Corp.
Property Management Agent: Fairway Management, Inc.
Construction Company: Fairway Construction Co., Inc.
Approx. Development Cost: $15,000,000
Type of Housing: Family – two-story walkup buildings
Number of Units: 48
Parkview Terrace II
Kirksville, Missouri

Community Amenities: Our community will offer community building, which is designed to accommodate
the on-site property management office, residents’ social gathering room with adjacent, warming kitchen,
public rest rooms, furnished computer room, and a fully equipped fitness room.

Apartment Amenities: All units will include full kitchens, floor and window coverings, individually
controlled heating and cooling, and in-unit washer and dryer connections.

Rents: Approximate rents will range from $300-$900 depending on unit type and varying designated
target household income for each unit.

(Similar Property)

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