Gov. Pete Ricketts and Hastings leaders participated in a ribbon cutting for the community’s most recent housing development today, nearly 15 months after the Governor and local officials broke ground on the Pioneer Trail Flats apartment complex. Local and state investments contributed to the project, which included funding from the State of Nebraska’s Rural Workforce Housing Fund (RWHF) program administered by the Nebraska Department of Economic Development (DED). DED Housing Development Consultant Laura Hart attended Tuesday’s event with Hastings Economic Development Corporation (HEDC) Executive Director Michael Krings.
Hastings is one of 14 communities to receive RWFH assistance from the state’s inaugural round of funding in 2018. The program contributed $900,000 in RWFH assistance for the Pioneer Trail Flats project, which was matched by more than $10,000,000 in private investments. The three building, 84-unit apartment complex is managed by Perry Reid Properties. Grand Island-based Chief Construction served as the project’s general contractor. Apartment units are currently available for rent.
“As housing demands continue to grow in Nebraska and in Hastings, HEDC appreciates the opportunity to build our partnership with the State of Nebraska and the Department of Economic Development,” said HECD Exec. Dir. Krings. “As we continue our work at HEDC to recruit and expand businesses, we understand that safe, affordable housing complements our efforts to create and retain jobs.”
In addition to Tuesday morning’s ribbon cutting at Pioneer Trail Flats, Gov. Ricketts visited the construction site of a second RWHF project in Hastings, made possible in part by a Nebraska-based developer. Osborne View Estates is a 30-unit townhome development managed by Mesner Development Company in Central City. DED awarded $900,000 for the project’s development, which will result in nearly $5,000,000 in private investments.
The RWHF was created through the Rural Workforce Housing Investment Act, which was introduced by Sen. Matt Williams in 2017. Passed unanimously by the Nebraska Legislature, Gov. Ricketts singed the act into law on April 27, 2017. The RWHF provides matching grants to non-profit development organizations to reduce the costs of workforce housing in Nebraska’s rural communities. The fund contributed to more than $7 million to projects during the program’s first round of funding in 2018.
“Workforce housing is a critical need in our community,” Hastings Mayor Corey Stutte said. “Through state funding, matched by City of Hastings, we now have two great projects to showcase Nebraska’s RWHF. I’d like to thank Governor Ricketts, the state, as well as our private development partners, for investing in our community. We look forward to continuing to use our Rural Workforce Housing Revolving Loan Fund to bring other projects to fruition.”
HEDC is a nonprofit organization focused on providing direction in making Hastings a community of choice for quality businesses and talented people. To learn more, visit hastingsedc.com or our talent website, inspiredbyhastings.com.
For additional information about Nebraska’s Rural Workforce Housing Fund, contact Sheryl Hiatt at 402-340-6180 or Sheryl.email@example.com.