A combination of rising costs and tight mortgage money has combined to delay Kingsbury Redevelopment Corporation’s plan to improve the “triangle area”, between McPherson, Delmar, DeGiverville and DeBaliviere. This report was made at the September 9 meeting of the Skinker-DeBaliviere Community Council, Inc., parent organization of KRC.
At present the cost per unit for the planned low-rise townhouse apartments is 19,000 dollars, necessitating a rent of 230-240 dollars per month for two bedroom units. Sponsors feel that the Department of Housing and Urban Development would not approve these rents. When the cost factor can be overcome, the plan will be submitted to HUD.
Board members also learned that there is a possibility that some revenue sharing funds in the area of housing may become available to help get the redevelopment going. The KRC plan has been approved by the city Plan Commission and the Beautification Committee, with a maximum of 20 per cent subsidized units. KRC hopes to stick to this number in their attempts to obtain funding for the redevelopment plan, which has been three years in the making.
Originally published in The Paper, October 1974.
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Original source: SD_Times1974_10.pdf, printed page(s) 1; PDF page(s) 1.
