On Thursday, November 1, 2012, JES Dev Co, Inc., (JES) of Columbia, Missouri, celebrated a ground breaking for Gentry Estates, a new affordable senior community for individuals age 62 years and older. The community will include 12 one-bedroom, one-bath apartments and 30 two-bedroom, two-bath apartments in the three story building. Rents for the community will range from $520 to $610 per month. Residents must meet age and income guidelines in order to qualify for housing at Gentry Estates.
State Senator Kurt Schaefer (R) was the Keynote Speaker and addressed an audience featuring residents from Bethel Ridge Estates, an existing senior community, as well as prospective residents for Gentry Estates. State Representative Stephen Webber (D), District 46, State Representative Chris Kelly (D), District 24, Bill Ulm, Director of Rental Production of Missouri Housing Development Commission (MHDC), the Columbia Chamber of Commerce, and supporters of affordable housing in Columbia also attended.
“I commend JES for not only bringing more affordable senior housing to the Columbia community, but also stimulating our economy with jobs,” said Senator Schaefer during his address. “When Bethel Ridge Estates was built, it was the only development under construction during the economic downturn in town and brought more than 100 vendors and suppliers work. JES is now doing it again with Gentry Estates. More than 100 construction workers and suppliers are contributing to this development.”
Rosemann and Associates, under the guidance of Don Rosemann, is the architect of record for Gentry Estates. Rosemann has partnered with JES on several developments, including the Bethel Ridge Estates community. Other development partners include the Missouri Housing Development Commission (MHDC), who administers the Federal and State Low Income Housing Tax Credit (LIHTC) programs in Missouri. MHDC approved Gentry Estates because of strong support from the community and city officials of Columbia. Construction financing for Gentry Estates will be provided by Bank of Missouri.
“The Columbia community has worked diligently together to offer safe and affordable housing for our seniors,” said Representative Stephen Webber (D). “Developments like Gentry Estates preserve the economic viability of our community.”
Fairway Construction Co., Inc. (FWC) of Columbia, Missouri, is building Gentry Estates. FWC has built more than 170 affordable and market rate multi-family developments in seven states, including new construction and historic renovation.
It is anticipated that Gentry Estates will be available for occupancy in July 2013. Gentry Estates will be managed by Fairway Management, Inc., (FWM), who manages affordable and market rate communities for seniors and families in seven states.