The Norman Transcript

Government

June 5, 2014

Residents’ concerns about HUD-financed Windsor complex persist

(Continued)

NORMAN —

On Nov. 27, 2012, concerned residents packed Norman city hall to protest the proposed apartment complex.

Protesters had gathered 835 signatures on a petition opposing the adjustment of the 2025 Land Use and Transportation Plan and the accompanying zoning change required for the development to move forward.

During that November debate, Rieger said the complex would target young professionals and will have 65 percent one-bedroom units.

Protester Heath Hans said the funding from Housing and Urban Development is making the project possible. He said with interest costs so low, he questions why HUD financing is needed.

At that time, former council member Hal Ezzell said HUD financing has been mischaracterized.

A local developer explained Wednesday that one-bedroom apartments are more expensive to build. They require kitchen, bathroom and full utilities, and with only one bedroom, rent must be significantly lower.

In fact, single-room occupancy projects are listed as multi-family projects likely to be insured under the cooperative housing program. These programs are not low-income projects.

In Fiscal Year 2013, HUD insured mortgages for 160 projects, with 24,997 units totaling $2.47 billion, according to the website.

Joy Hampton

366-3544

jhampton@

normantranscript.com

 

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