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Council backs Aster LLC application for state affordable-housing financing
Summary
Council approved a resolution supporting Aster LLC's application to the South Dakota Housing Development Authority for a phased affordable multifamily project expected to total about 278 units.
City staff presented a resolution supporting a developer pplication to the South Dakota Housing Development Authority (SDHDA) for a phased affordable housing project by Aster LLC near 25th Avenue and North Harrison Street.
"This is a phased project and ultimately, it's anticipated that this project would end up with 278 living units," the city manager said while explaining the developer's SDHDA application and the requirement that a local resolution accompany the submission. Staff added that the project would need to follow SDHDA affordability guidelines.
Council moved, seconded and approved the resolution supporting the developer's application for financial assistance from SDHDA. Council discussion included the developer's likely location (noted as connected to recent adjoining apartment parcels) and confirmation from staff that the application meets the city's housing study objectives.
