Excel Development Group

Last Friday, we celebrated the Ribbon Cutting of Wilderness Falls III in Falls City, Nebraska. This new third phase of the Wilderness Falls III development brought 16 new homes (8 duplexes) of affordable senior housing to Falls City. Big thanks to our partners: Midwest Housing Initiatives, City of Falls City, Falls City EDGE, Nebraska Investment Finance Authority, Nebraska Department of Economic Development, Marble Cliff Capital, Advantage Capital, Horizon Bank Nebraska, FORTEN Building Group, Architectural Design Associates, REGA Engineering Group, Inc. The $4.9 million+ project was made possible by a yearly award of $288,860 of both Federal Low-Income Housing Tax Credits and Nebraska State Affordable Housing Tax Credits, $750,000 of HOME Investment Partnerships Program (HOME) Funds, The City of Falls City providing TIF and paying for some of the road infrastructure cost, Falls City Edge providing lots at a discounted rate. "Housing affordability and availability barriers create significant challenges to quality of life for senior members of our communities. The hardships brought about by recent inflation and supply chain challenges have only worsened this crisis. Your efforts to expand affordable housing in Richardson County will serve as a lasting investment in the wellbeing of seniors and the broader community for years to come. Thank you to the City of Falls City, the Nebraska Department of Economic Development, and all project partners for the opportunity to recognize your hard work and contributions driving Nebraska's Third District forward." - Rep. Adrian Smith

Last week we celebrated the Ribbon Cutting of East Side Housing in Broken Bow, Oklahoma. The 64-unit Rehabilitation project was a welcome sight in the community of Broken Bow and residents were thankful their homes have been upgraded and are more energy efficient. Big thanks to our partners: Broken Bow Housing Authority, Oklahoma Housing Finance Agency (OHFA), CREA, LLC, Horizon Bank Nebraska, Blackledge and Associates The $8 million+ project was made possible by a yearly award of $689,893 of Low-Income Housing Tax Credits, $500,000 of HOME Investment Partnerships Program (HOME) Funds, and over $1 million+ of National Housing Trust Funds (NHTF).

Yesterday we celebrated the Ribbon Cutting of the the Southern Hills Senior Homes development in Topeka, Kansas. The new housing development which consisted of the new construction of 12 duplexes (24 units) and a Community Building. Thank you to all our great partners: Cornerstone Of Topeka, Inc., Kansas Housing Resources Corporation, U.S. Department of Housing and Urban Development, Midwest Housing Equity Group, Horizon Bank Nebraska, Shirley Construction, Architectural Design Associates, REGA Engineering Group, Inc. “Cornerstone of Topeka is excited to partner in the largest new construction development in our history!?Affordable housing, especially for seniors, is in high demand and we are happy to continue our work to address that challenge.” -?Chris Palmer, Executive Director, Cornerstone of Topeka The Southern Hills Senior Homes Development was Awarded the Following for the $7 million+ Development: ·???????$625,000 of Federal Low-Income Housing Tax Credits (LIHTC) for 10 years and $1.5 million of HOME Investment Partnership Funds from the Kansas Housing Resources Corporation (KHRC) “We are pleased to join with Excel Development Group, Cornerstone of Topeka, and our development partners to expand housing opportunities for Kansas seniors,” said Alissa Ice, Housing Development Director at Kansas Housing Resources Corporation (KHRC). “Southern Hills will provide 24 affordable, quality homes, enabling residents to live with dignity and independence.” The Southern Hills Senior Homes affordable housing project will help solve two of the concerns identified in the 2021 Kansas Housing Statewide Housing Needs Assessment study: ·???????Lack of Senior Housing Options for an aging Kansas Demographic ·???????Lack of affordable rental housing All 24 units in the Southern Hills Senior Homes development are two bedrooms and one bathroom with 1,034 sq. ft. of living space, 292 sq. ft. of garage space, 1,326 total sq. ft. They all have single levels with exterior features such as partial brick and landscaping. Amenities include a community building, single-car garage, washer, dryer, dishwasher, refrigerator, stove, storage area, and a rear patio. All units are maintenance-free with lawn care and snow removal provided. 17 units are targeted to seniors making at or below 60% of the area median income (AMI) and pay $650 a month in rent, 1 unit is at 40% AMI and $525 a month, and 4 units are at 30% AMI and $400 a month. Water, sewer and trash services are provided by the owner. “We’re very proud to be a part of the Southern Hills Senior Homes project and our continued partnership with Cornerstone of Topeka in helping provide another high-quality affordable housing option to the Topeka community.” – Brent Williams, President, Excel Development Group

We celebrated with partners and residents the Ribbon Cutting of Wildwood II, which provides an additional 12 affordable single-family homes to the Sayre, OK community. This brings the total number of homes provided to 24 affordable single-family homes so far between the two Wildwood phases. These homes are designed to blend seamlessly into the fabric of the community while offering modern amenities and comfort. This initiative underscores the commitment to fostering inclusive neighborhoods where everyone has the opportunity to thrive. These homes stand not just as brick-and-mortar structures but as symbols of hope, stability, and opportunity for the families who can now call them home. Thank you to our partners: Midwest Housing Initiatives, Oklahoma Housing Finance Agency (OHFA), City of Sayre, CREA, LLC, Advantage Capital, Horizon Bank Nebraska, Express Building, Inc., Architectural Design Associates, REGA Engineering Group, Inc.

Yesterday, with our partners, we celebrated the Willow Estates Groundbreaking in Colby, KS. The new affordable housing project will provide 9 high-quality affordable duplexes (18 units) to families in Colby. "I'm thrilled to see more housing come to the City of Colby, and I want to thank Excel Development Group, Kansas Housing Resources Corporation, and all the other partners involved in the Willow Estates housing development. Housing that Kansans can afford is more important now than ever so that our communities can continue to grow and thrive. It's great seeing the new Kansas affordable housing tax credit providing new affordable housing options for Kansas families." – Kansas Senator Rick Billinger The project was made possible by an award of $448,656 of Federal Low-Income Housing Tax Credits (LIHTC) and State Affordable Housing Tax Credits for 10 years from the Kansas Housing Resources Corporation. It was also made possible by the City of Colby providing a Sales Tax Exemption for the project through the issuance of $5 million of Industrial Revenue Bonds, Fee Waivers, and a Thomas County Neighborhood Revitalization Plan (NRP) Tax Abatement. Thank you to our partners and those who were able to celebrate with us yesterday. Midwest Housing Initiatives, Kansas Housing Resources Corporation, City of Colby, Marble Cliff Capital, Advantage Capital, Sunflower Bank, N.A., Woofter Construction and Irrigation, Architectural Design Associates, REGA Engineering Group, Inc., Union Title Company, Mayor Lee Leiker, Senator Rick Billinger, and Representative Adam Smith.

Appliance move in ?? Sprinklers ?? Blue tape walk through ?? Our Wilderness Falls project in Falls City, NE is coming along nicely Excel Development Group ?

Another great development with our amazing partner Express Building, Inc.! These homes are not just structures; they represent hope, stability, and the realization of dreams for many families in Sayre.

Our Affordable Housing team recently closed on Willow Estates, a $6.5 million new construction development in Colby, Kansas consisting of 18 affordable units. The project marks Advantage Capital’s first investment with the new Kansas LIHTC program. #ImpactInvesting

Third closing of the week! Kudos to our partners Excel Development Group, MIDWEST HOUSING INITIATIVES INC, Sunflower Bank, N.A., and Kansas Housing Resources Corporation on the successful 9% LIHTC closing of Willow Estates in Colby, Kansas. This new construction, 18-unit duplex-style project for families will offer attached one-car garages and convenient access to area amenities. We cannot wait to join our partners and tour the completed homes! #lihtc #affordablehousing #housing #taxcredits

What a wonderful job FORTEN Building Group has done, Charles Stewart and company truly take pride in their work! The additional Porter Estates duplex will bring more high-quality affordable housing options to Beatrice, NE! The project is made possible by the Nebraska Affordable Housing Trust Fund (NAHTF) awarded by the Nebraska Department of Economic Development, LB840 funds awarded by City of Beatrice, Nebraska, and other financing provided by Horizon Bank Nebraska.