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The $21.9 million project, scheduled to open in the spring of 2019, includes 50 one-bedroom apartments offering 560 square feet, and 12 two-bedroom units offering 790 square feet.
Located at 430 16th Street, the Schmale Family Senior Residence will also provide comprehensive support services for its residents, who will be aged 55 and over.
“Serving Seniors first partnered with Chelsea Investment Corp. in 1999 and have since developed over 500 senior housing units together,” said Paul Downey, president and CEO of the nonprofit that helps seniors who are in poverty. “A generous gift from long-time Serving Seniors supporters Marge and Neal Schmale will help provide a safety net of support services for our future residents.”
The new apartments are for seniors earning between 30 and 50 percent of the local area’s median income. Qualified residents will pay 30 percent of their income to live there, with federal housing vouchers available to cover the remainder of the rent.
Rents are anticipated to range from $476 to $818 per month for a one-bedroom unit, and $569 to $978 per month for two bedrooms.
Individual units include central heating and air, window and floor coverings, a patio or balcony, and appliances. Resident amenities include a 2,500-square-foot community room, computer room, picnic and barbecue area, and laundry room.
Since 1984, Chelsea Investment has developed 10,228 units of affordable housing at a cost in excess of $2 billion.
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