(BLACKFOOT) The Housing Company (THC), brought to you by Idaho Housing and Finance Association (IHFA), announces the availability of more affordable senior housing in Blackfoot. To celebrate the completion of Rose Park Place Apartments, THC will hold an open house and ribbon cutting at the development at 10 a.m. Tuesday, Sept. 30. Gerald Hunter, President and Executive Director of IHFA; Mike Virtue, Mayor of Blackfoot; Douglas Peterson, Director of The Housing Company; and Kevin Gardiner, Vice President of Community Development for Wells Fargo, will speak at the open house. The dedication will be held on site at the development at 1385 Meggan St.

Rose Park Place Apartments add 40 new affordable senior units to the area for persons 55 and older who meet income requirements. The development is designed in a fourplex arrangement. Amenities offered include a community center, exercise equipment, and covered patio.

"Rose Park Place adds much-needed affordable housing for seniors to Eastern Idaho," said Douglas Peterson of The Housing Company. "We’re happy to work with IHFA and our other partners to complete this development and meet that need."

IHFA allocated low-income housing tax credits and a HUD HOME loan, and provided construction and permanent loans for this development. Housing Tax Credits provide a dollar-for-dollar federal tax liability reduction to the investor, Wells Fargo Community Development, providing equity to reduce debt and bring rents within reach of more seniors.

Arave Construction was the contractor, and Sundberg & Associates was the architect on this development. The developer of Rose Park Place is The Housing Company, a nonprofit corporation created by IHFA in 1990 to provide rental-housing options for Idaho families.

THC is dedicated to preserving Idaho's existing affordable housing stock, facilitating development of new housing in under-served areas throughout Idaho, and providing quality professional property management for developments in its portfolio. Since its inception, THC has developed 560 housing units statewide, with 25 units currently in progress at the Whitman Hotel in Pocatello; and owns and manages 982 units of rental housing throughout the state.

The Idaho Housing and Finance Association, a financial services and housing organization, provides funding for affordable housing in Idaho communities where they are most needed and when it is economically feasible. IHFA uses no state funds or state employees to support its operations. For more information, visit our Web site at www.ihfa.org.