May 25, 2023

Newton City Commission supports grants for Fox Ridge development

Posted May 25, 2023 9:20 AM
Newton Fox Ridge Addition-City of Newton
Newton Fox Ridge Addition-City of Newton

NEWTON, Kan. — At Tuesday night’s meeting, the City Commission approved resolutions of support for Moderate Income Housing Grants (MIH) and Kansas Housing Investor Tax Credits (KHITC) for redevelopment of the former Fox Ridge Golf Course.

The planned development in Fox Ridge will include a five-building, 120-unit apartment complex with two- and three-bedroom layouts. It will also include 50 duplex lots and 27 single-family lots in Phase 1. The single-family homes will range from 1,200-1,500 square feet with a price point beginning at $220,000. The duplexes will range from 1,000-1,300 square feet with a price point of $300,000-$350,000. The use of Moderate Income Housing funds will allow for lower costs to keep these units affordable.

The builders in the project include Bryan Lagaly of Bryan Lagaly Homes, Mike Hampton of Hampton Property Management, and Mike Brand of TOB.

The Kansas Housing Investor Tax Credit is a new tool created by the Kansas Legislature in 2022 to support rural housing by offering a tax credit of $30,000 per unit up to 31 units in counties with a population between 25,000 and 75,000. Of the projects currently under development in Newton that might be eligible, this project is furthest along to be able to meet the deadlines for application requirements.

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