Developers present senior housing construction plan at Palmyra City Council meeting

Published: Sep. 15, 2022 at 9:36 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

PALMYRA, Mo. (WGEM) - The effort to build more senior housing in Palmyra, Missouri, has been going on for many years, but will it finally happen?

The lack of housing has been an ongoing problem in the city and Mayor Rusty Adrian said he and past mayors have tried to fix the issue.

“I’m going on my second year and it was a couple years before that when they started and tried, if I’m not mistaken,” Adrian said. “But this will be at least two or three or four years.”

Numerous developers have wanted to bring senior housing units to downtown and Adrian has been hopeful every time.

Thursday night, Turnberry Developers LLC, presented their construction plans to the City Council.

They want to put in a three story building on Main Street with 36 units. Only seniors 55 and older can live there.

“A big help would be if some of the senior citizens decided to move in there, it would open up their homes for younger families to move in,” Adrian said.

Scott Rosemann with the developers said he has traveled the state of Missouri looking for cities that need more housing.

“Palmyra always comes to the top of the list,” Rosemann said. “This location especially, in such a beautiful city, really caught our eye.”

Rosemann said they are applying for low-income tax credits through the Missouri Housing Development Commission to pay for the project, something others have failed to be awarded in the past.

“There have been a lot of changes recently within the scoring structure at MHDC and we have taken the opportunity to tailor this proposal to the new requirements,” Rosemann said. “We think that puts us in a great chance this year.”

Rosemann said the project could cost around $12.5 million.

The deadline to apply for the tax credits is Sept. 23. Rosemann said they should hear in December whether or not they get the award.

Copyright 2022 WGEM. All rights reserved.