FAYETTEVILLE — Work is underway on a project that aims to provide affordable housing for veterans.
Crews this month began site preparations for Patriot Park, a 60-unit apartment complex set for construction on a vacant, 3-acre parking lot at the southeast corner of College Avenue and North Street. The Washington County-owned lot is about 500 feet from the entrance to the Veterans Health Care System of the Ozarks.
The $12 million project is funded by federal low-income housing tax credits, along with federal block grant funds and housing trust funds.
The county is leasing the land to Strategic Realty of Van Buren, who will find tenants through the local Veterans Affairs office.
Applicants must meet the federal government’s low-income requirements that specify tenants cannot earn more than 60% of the area’s median income of $92,400, adjusted for family size.
State Sen. Jim Petty, R-Van Buren, is the owner of Strategic Realty and is serving as the project’s developer. Petty earlier this year said rent prices would cost between $275 and $600 monthly, depending on the size of each apartment.
Drawings of the project from Miller Boskus Lack Architecture and Urban Design in Fayetteville show seven three-story buildings, a pari of two-story buidlings, a courtyard, a plaza with access to College Avenue, and associated parking.