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Parkway Place could take stab at affordable housing backlog

by JENNIFER PASSARO
Staff Writer | March 2, 2020 1:00 AM

POST FALLS — A little help on the affordable housing front might be on the way.

A 120-unit apartment complex called Parkway Place is on the Idaho Housing and Finance Association’s radar as the agency seeks Housing and Urban Development funds to start work on the project. The apartments would be available to qualified Washington and Idaho residents, according to IHFA.

The waiting list for a low-income Section 8 voucher in North Idaho’s five northern counties has 2,046 applicants, with a wait time of up to three years.

Once a family or individual has a voucher in hand, another long wait usually ensues: the wait for an apartment or rental to become available that accepts the voucher.

On March 11, the IHFA will submit a request to HUD to release funds to begin work on Parkway Place.

The proposed site is 7.7 vacant acres on the northwest corner of North Beck Road and West Expo Parkway. The apartment complex would be developed by Whitewater Creek Inc., a Hayden-based construction and development company that has brought hundreds of affordable housing apartments to North Idaho.

Maryann and Todd Prescott started Whitewater Creek in 1994.

The company has built units in Idaho and eastern Washington, including the 60-unit Kathleen Corners in 2005 in Coeur d’Alene, units in the Riverstone mixed-use community near the Spokane River, and apartments near WinCo Foods in Coeur d’Alene.

The Kathleen Corners apartments fall under HUD Section 42, meaning the rent is capped at a fixed amount and utilities are the resident’s responsibility. Section 42 is for households living below the Area Median Income (AMI) and does not require a voucher.

Unlike Kathleen Corners, Parkway Place will accept Section 8 vouchers.

To be eligible for a Section 8 voucher, applicants must meet HUD income limits, in addition to other criteria.

Program participants pay about 30 percent of adjusted gross monthly income for rent, the remaining expenses are funded by the federal government.

“Idaho gets a set number of vouchers, period,” said Jason Lantz, IHFA director of marketing and communications.

Wait times for Section 8 vouchers throughout the state exceed 18 months, with the average wait hovering around 30 months for counties served by the Idaho Falls branch of the IHFA. In counties served by the Twin Falls branch office average wait times are between 24-30 months, while in counties served by the Lewiston branch office the wait time is about 18-24 months.

“That wait fluctuates depending on the month,” Lantz said.

Housing applicants in Kootenai County are staggered based on extra low income, a family of three making less than $21,330 annually, very low income, the same family making less than $29,100, and low income, making less than $46,550. Individuals and families are not ranked on the wait list by income, however.

“Some developments will have market rate units in them,” Lantz said.

To comment on the Parkway Place project, write to IHFA at PO Box 7899, Boise, ID 83707, Attention Sarah Price, HOME Programs Department, by March 10.