WNC & Associates (WNC) and EmberHope, Inc., in a partnership with Riverstone Platform Partners, have begun construction on Hope Estates, a 38-unit affordable housing community in Newton, Kansas.
Located at 900 West Broadway Street on the existing EmberHope Youthville campus, Hope Estates is a $13.58 million development that will deliver affordable housing units across nine two-story buildings. Hope Estates will offer a mix of one-, two-, and three-bedroom apartment homes, serving households earning between 30% and 60% of the Area Median Income (AMI).
Hope Estates will be financed through a combination of public and private funding sources. This project will use $6.87 million for federal low-income housing tax credit equity, $4.62 million of state of Kansas Low-Income Housing credit equity, and $800,000 of HOME. Legacy Bank will provide the construction and permanent loans, the latter amounting to $1.373 million. Construction is expected to be completed in late 2026…