Fulton city officials have positively responded to a request to support development of a new housing community within city limits.
Maple Pointe Apartments would be built on a portion of a 7-acre tract near the intersection of U.S. Business 54 and Rice Road, near the southern U.S. 54 interchange. According to a letter to the city from Zimmerman Properties, the 60-unit housing community would include 36 two-bedroom and 24 three-bedroom apartments, plus a clubhouse.
Forty-eight units would be reserved for families with income at or below 60 percent of the area median income, and the remaining 12 units would be at a market rate rent. Proposed rates for two bedrooms would be $365 to $575, and $500 to $675 a month for three bedrooms.
Fulton Mayor LeRoy Benton said Zimmerman Properties already has a property in Fulton - Callaway Village Apartments on Amerihost Drive.That property includes 96 units and has a waiting list, according to James McDonald, vice president of development for Zimmerman.
Like that property, this latest proposal would be built, if approved by the state, with "low-income housing tax credit program" funds from the Missouri Housing Development Commission.
Benton said the city furnished a letter in support of the project for Zimmerman Properties to submit with its application for these funds. Officials expect to learn if the application is successful in December, McDonald said.
McDonald said Zimmerman Properties plans to not only develop the property but also manage it after its construction.
"Amenities within the clubhouse will include a community room with a full kitchen, library, movie room and various multipurpose spaces for social activities," he said, adding outdoor entertainment space is also planned. The project will cost an estimated $7.1 million, he added.