Columbia Housing Authority awarded federal low-income housing tax credits for Park Avenue affordable housing development

COLUMBIA, Mo. (KMIZ)

The Columbia Housing Authority announced in a Monday press release that it was awarded federal and state low-income housing tax credits from the Missouri Housing Development Commission for CHA’s Park Avenue Affordable Housing Development. 

MHDC -- which will provide more than $15 million in funding to the project -- approved the award at its Friday meeting last week. 

The City of Columbia committed $2 million in local American Rescue Plan Act funds and Boone County committed $5 million in local ARPA funds for the project. 

The development of Park Avenue aligns with CHA’s five-year plan that includes renovating CHA’s remaining public housing and expanding CHA’s affordable housing portfolio through additional development. Park Avenue will consist of 79 new, energy-efficient and affordable housing units of varying sizes.  CHA anticipates the units will directly impact more than 1,300 residents during the next 25 years.