Rolling Heights renovation nears start

James Mayse, Messenger-Inquirer, Owensboro, Ky.
·2 min read

Nov. 20—The Housing Authority of Owensboro is anticipating being ready for contractors to begin bringing equipment and supplies to the the Rolling Heights apartment complexes next month, which will become Churchill Park after the renovation work is complete.

Churchill Park is a $53 million renovation of the apartment complexes. Once work begins, the project is expected to take two years to complete, Housing Authority Executive Director Shauna Boom said.

Earlier this year, Boom said the hope was to begin construction in the apartment complexes in September.

But Boom said last week final agreements between the department of Housing and Urban Development and the Churchill Park LLLP are not yet complete.

"We are hoping to close this week or next week" on the agreements, she said.

HUD will transfer the properties to Churchill Park LLLP, which is made up of Investing in Communities, a nonprofit organization created by the Housing Authority, TCG Development Advisors and R4 Capital LLC. Both TCG and R4 Capital work in developing and financing affordable housing.

The process of reviewing the agreement among the agencies took longer than anticipated, Boom said.

The Housing Authority is applying for a Low-Income Housing Tax Credit program to finance the work. The program allows private investors to buy the tax credits, which fund the work. Those investors then receive a tax credit for 10 years after the work is complete.

The agreement is "releasing the property out of HUD's control," Boom said. Once that is done, the Housing Authority will finalize the agreement for the Low-Income Housing Tax Credit program.

The complexes will be gutted, and the interiors will be completely rebuilt. Boom said the contractor, Clayton Watkins Construction, will be able to start construction once the equipment and supplies are on site.

Getting construction materials should not be an issue, Boom said.

"It looks like we should be on schedule" once work begins, Boom said.

Winter weather won't impact the project.

"There's quite a bit inside and outside" to work on, Boom said. "Weather should not be an issue. There's a lot that can be done" during the cold weather,.

The residents have already been relocated to other apartments in the neighborhood.