JACKSON HOLE, WYO – Teton Habitat received some good news and big money for Phase III of The Grove housing project.
A $200,000 Competitive Affordable Housing Program (AHP) grant from the Bank of Jackson Hole and the Federal Home Loan Bank of Des Moines (FHLB Des Moines) will help fund the $8 Million affordable housing development at The Grove Phase III, a 24-unit condo-home development in the town of Jackson, Wyo.
The grant was awarded to Habitat for Humanity of the Greater Teton Area (Teton Habitat), a local nonprofit organization that is spearheading the project. This grant is the first ever AHP grant awarded in Teton County.
“The homes we’re building at The Grove will positively impact the long-term quality of life for 24 local families,” said Teton Habitat Executive Director Kendra Heimbuck. “Being awarded this grant underscores the great value of affordable housing in our community and the high caliber of Teton Habitat’s project execution in comparison to affordable housing developments across the nation.”
The first eight units at The Grove Phase III, behind the County Library in Jackson were finished last fall. The eight units in the second stage supported by this AHP grant will be completed in early 2020 with the entire 24-unit construction project slated to wrap up in the summer of 2021.
“The Bank of Jackson Hole is proud to facilitate projects that help our community,” said Bank of Jackson Hole’s President Jim Ryan. “Through this partnership with FHLB Des Moines we are able to support a great cooperative project making the dream of affordable living for some working families a reality.”
Funds for this program were provided through the Federal Home Loan Bank of Des Moines Competitive Affordable Housing Program.
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