Release Date: 08/29/2017
BOISE, Idaho – The Grand Opening of the Moon Valley Apartments, a new affordable housing development in Star, Idaho, will be held from 12-1:30 p.m. on Wednesday, August 30, 2017. Moon Valley was developed by The Housing Company, an affiliate of Idaho Housing and Finance Association (IHFA), and developer VCD, LLC. It offers 37 new apartments, 32 of which will be rented at affordable rents to income qualified tenants.
Located at 142 South Sunlight Avenue in Star, the Moon Valley Apartments are an attractive garden-style, walk-up development with 1-, 2-, and 3-bedroom floor plans. Residents will enjoy access to a centralized community center, exercise room, computer lab and playground.
“Today’s critical, statewide shortage of affordable housing is well known. We are excited to help 32 families and individuals by providing quality living space in a desirable location with affordable rents,” said Kathryn Almberg, director of The Housing Company. “The Grand Opening of the Moon Valley Apartments is certainly cause for celebration. We hope its addition to the community helps foster increased pride throughout Star.”
The Moon Valley Apartments were built for a total cost of $7.45 million, which includes $570,072 in annual low-income housing tax credits and a $5.3 million construction loan from IHFA. Bonneville Mortgage also contributed $1.27 million for the project with an USDA RD538 (perm) loan.
More information and a photo of the Moon Valley Apartments are available on The Housing Company website at www.thehousingcompany.com.
About The Housing Company
The Housing Company is a full service development and property management company. The primary purpose of the nonprofit organization is to preserve Idaho’s existing affordable housing stock, facilitate development of new housing in under-served areas of the state, and provide quality professional property management for affordable properties located throughout the state. The Housing Company is one of the only 17 organizations in the country to achieve full SPl-HUO Green Organizational Accreditation. It is committed to institutionalizing sustainability and achieving higher levels of performance in the development and management of its housing portfolio.
About Idaho Housing and Finance Association
Idaho Housing and Finance Association is a financial services and housing business organization. IHFA’s mission is to improve lives and strengthen Idaho communities by expanding housing opportunities, building self-sufficiency, and fostering economic development.