Cherrywood Village Ribbon Cutting Ceremony
The HUD Fargo Field Office participated in the Cherrywood Village open house/ribbon cutting ceremony on June 19th. Cherrywood Village is a low income senior apartment complex located in Grand Forks, North Dakota.
This $4.9 million 32 unit apartment complex is partly funded by a $4.26 million HUD Section 202 grant and a $500.000 grant from the North Dakota Housing and Finance Agency.
The two-story complex has 30 one-bedroom apartments for households age 62 and older. Four of the units are reserved for households that earn no more than 30% of Area Median Income (AMI). The remaining units are for households earning less than 50% of AMI.
The property is managed by Valley Memorial Homes a non-profit organization that has 90 years of experience providing long term care service for residents in the Grand Forks area.
The Grand Forks Housing Authority is also involved in the management of this property. They are responsible for ensuring that tenants are income qualified.
In addition to the project partners and government officials, the tenants that will move in on July 1st were also in attendance.
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