Company breaks ground on new affordable housing project
RAPID CITY, S.D. (KEVN) - Doug Herrmann, Executive Director at Club for Boys, a non-profit organization that fulfills different needs in boy’s lives within the community, says 15 months ago he would never have thought he’d break ground on a new affordable housing project.
“15 months ago we really had no idea that these projects exist other than you’re kind of aware of them once and a while, but you don’t yet have an understanding of the process,” said Herrmann.
That’s when Herrmann said he was approached by Lloyd Companies, a property management group in Rapid City, with plans to start the complex process of developing a new living option for low-income families, Heartland Heights.
“Rapid City is in a strong need for affordable housing and really all types of housing. We got an industry base here that tends to have lower wages and so that, of course, causes more challenges when it comes to affordability and housing,” said Luke Neeley, the Regional Development Director for Lloyd Companies.
Heartland Heights will offer 41 new apartment units, with rent based at the 30-60% area of median income.
“We’ll have rent as low as $427 a month for a one-bedroom and around as low as $790 for a 3-bedroom unit,” said Neeley.
Herrmann believes the best thing that will come out of this project is a new opportunity for families in need.
“10% of our boys are homeless at some point during the year and we know many more are in substandard housing. It’s very disruptive to a child and so we knew we needed to do something in this area,” said Herrmann.
Hermann believes affordable housing is the long-term answer for building our community.
“We’re thrilled to be a part of this project. We know Rapid City community and affordable housing is a tremendous demand and shortage and so we’re hopeful that this can lead to other project of the similar nature in the very near future,” said Herrmann.
A future that’s not too far away, as Neeley says he is already in the process of submitting applications for more projects like this one.
Heartland Heights begins construction next week.
Neeley predicts they will start leasing in March 2022 with occupancy beginning the following June.
Copyright 2021 KEVN. All rights reserved.