Beatrice, Nebraska, Jun 23, 2011 -- USDA Rural Development Nebraska State Director Maxine Moul and staff celebrated with a ribbon cutting today at the grand opening of Bell Street Apartments in Beatrice, Nebraska.
“I am very pleased to be here today to celebrate the official grand opening of Bell Street Apartments. Rural Development is proud to be a part of this project that will allow disabled residents to enjoy affordable, independent housing,” said Moul.
Bell Street Apartments provides independent living that features five duplexes that offer 10 units of 715 sq. ft. one bedroom affordable living. The residents will have a community room and laundry facilities available to them. Eight of the ten units will have rent subsidy to assist those tenants with very-low and low-incomes. Bell Street Apartments LLC is the owner with management provided by Crown Pointe Management. Blue Valley Behavioral Health and Region V Systems will provide direct support services to the tenants through their caseworkers.
Funding partners are USDA Rural Development with $562,223, Nebraska Department of Economic Development (HOME/Nebraska Affordable Housing Trust Funds) of $304,392, Federal Home Loan Bank at $69,000 sponsored by Thayer County Bank and Region V Systems at $105,000. The total project cost is $1,040,615.