The grand opening of Ketchum's first solely affordable-housing complex Thursday represented the addition of a mere 32 units to 10,000 built in Idaho through partnerships with the state housing association. But these 32 units are unusual.
"We're very thrilled to be associated with this development," said John Sager, chief financial officer of the Idaho Housing and Finance Association, which provided the $8.8 million in federal tax credits to cover construction costs.
He said the quality of the project exceeds that of the usual affordable-housing development. The 32 apartments are divided among five buildings, giving the tenants as much privacy as possible. Plus, south-facing roofs are covered by 247 solar panels, providing all the energy needed to run the ground-source heat pumps. The pumps work by sending a solution into pipes extending beneath the ground. The earth's heat is transferred to the solution, which is then used to heat the pavement, meaning no plowing or snow storage. Solar panels also provide the heat and electricity to all the common areas, meaning it's a bill the tenants aren't forced to foot in their rents.
The grand opening on Saddle Road north of the YMCA celebrated the end of construction on time, under budget and with zero accidents for general contractor Okland Construction. Even more, Okland area manager Ben Petzinger said, about 150 subcontractors worked to build the complex, 80 percent of which were from the Wood River Valley.
"We were very pleased with that," he said, which received applause from the approximately 30 people attending.
Construction was finished in about a year, as scheduled, but tenants started moving in this fall as individual buildings were finished. Jon Duval, executive director of the Ketchum Community Development Corp., which organized the project, said about 27 of the 32 rental units are taken. He said more applicants are encouraged.
"Because it's our first one, we have no judgment for rental pace, but we would've liked to have it filled up the day it opened," Duval said. "Of course, that's unrealistic."
Sager, on the other hand, has abundant experience in affordable housing. He said the speed at which renters have filled apartments is "testament" to the need for affordable housing here.
Duval said this reaffirms the CDC's commitment to the next affordable-housing project, planned at either a First Street and Washington Avenue lot or the corner of Leadville Avenue and Sixth Street. The city owns both.
"We're looking hard and long at both, comparing the two," Duval said.
He said much more would be decided by the time the CDC applies for federal tax credits in September. He said tax-credit applications have to be submitted in February or September, but September is when most of the funds are available. Duval said the CDC learned with Northwood Place that it's better to have as much planned as early as possible because 10 percent of the federal tax credits have to be spent in a specified time.
And, he said, the community would be consulted at every turn.
"If the project is going to work for KCDC, it has got to work for the community as a whole," Duval said.
After all, the housing is for the community.
Trevon Milliard: tmilliard@mtexpress.com
Key figures behind affordable-housing complex Northwood Place enjoy their achievement at Thursday’s grand opening. Tom Unger, board president of the Ketchum Community Development Corp., which organized the project, stands to the left of John Sager, chief financial officer of the Idaho Housing and Finance Association, and Teresa Richenback, who processed the corporation’s application with the association. Photo by David N. Seelig
