DEVELOPER WANTS TO BUILD MORE SENIOR CITIZEN HOUSING IN JACKSON

JACKSON -- Chad Hartle, who owns 76 units of federally subsidized senior-citizen housing in Jackson, says more units are needed.

"A senior citizen just living on Social Security can't afford a conventional apartment," he said. "It really is the only choice for a lot of seniors; either that, or live with family."

Hartle has applied to the Missouri Housing Development Commission for funding of 48, one-bedroom apartments. The apartments would be called Jackson Senior Garden Apartments and would be on Main Street.

The commission doles out low-interest loans and state and federal tax credits for projects that provide affordable housing.

Hartle's project would cost about $1.7 million. He wants a loan of almost $1 million at 1 percent interest to be paid back over 50 years. He also wants tax credits of about $787,000. Hartle would sell the tax credits to help fund the housing project.

Hartle's project wasn't funded in the last round of funding in May. Hartle said the commission had 48 applications but only $5.2 million to spend.

Hartle hopes his project will be considered in the next round of funding by early next year.

Hartle bought Jackson Villa and Jackson Senior Estates. The housing wouldn't have been built without government funding, he said.

The government provides low-interest loans to build apartments for the elderly and then subsidizes rent based on tenants' income.

"There is no other way to really develop senior citizen housing unless you use a government program," he said.

Besides Jackson, Hartle and his family own senior citizen housing in Perryville, Portageville and Callaway County.

The federal government's Rural Economic Community Development office has provided funding for the housing in the past. But Hartle the money is becoming harder to get.

"It is drying up and the state money is going the same route," he said.