Blaine County’s First Affordable Housing Development in 10 Years Breaks Ground Tuesday 
(June 13)

HAILEY - Balmoral Family Community—Hailey’s newest affordable housing development— will have an official groundbreaking Tuesday (June 13) at 11 a.m., the Idaho Housing and Finance Association announced today. Mayor Brad Seimer will join officials and developers to break ground at the development site, at the corner of Shenandoah Drive and Woodside Boulevard in Hailey.

Balmoral Family Community is the first affordable housing development to be built in Blaine County in at least a decade. When completed, the development will represent not only the original plans of its builder, Thomas Development, but also the ideas of nearby residents, the local Planning and Zoning Commission, and the Hailey City Council. All were consulted early in the process; suggestions made at neighborhood and planning and zoning meetings were incorporated into the site design.

Balmoral Phase I will consist of 120 affordable apartment homes near the Hailey airport. The development will border a new four-acre park with soccer fields and play areas, as well as access to the greenbelt. Initial leasing will take place in December 2000.

The Hailey City Council approved the development contingent on IHFA being the resource provider. Financing for the development came through Housing Tax Credits [HOTLINK TO THIS SECTION IN MULTIFAMILY FINANCE]—a federal tax incentive program administered by IHFA that encourages affordable multifamily construction—and IHFA’s Affordable Housing Investment Trust Fund.

The following individuals are scheduled to speak at Tuesday’s ceremony:

• Tom Mannschreck, president, Thomas Development Co.
• Sue Groebe, vice president of community development, US Bank
• Fred Eoff, managing director of public finance, US Bancorp Piper Jaffray
• Dan Kierce, vice president, Key Bank-Key Housing Capital
• John Sager, vice president-treasurer, Idaho Housing and Finance Association
• Brad Siemer, mayor, City of Hailey