PRESS RELEASE  

 Ribbon Cutting to Mark Completion of North Pointe Housing Development

Fort Smith Housing Authority will host a grand opening and ribbon-cutting ceremony for the final phase of North Pointe II on Tuesday, April 12, at noon.  The ceremony and open house will be held at 3100 Armour Street, just off North 32nd near Trusty Elementary School.

North Pointe II is a $10.3 million, 65-unit rental housing project between North 6th and North 32nd Streets, has both market-rate and rent-assisted units.  Rental rates are based on residents’ income for the rent-assisted units.  Financing for the project included an allocation of Low Income Housing Tax Credits and HOME funds from the Arkansas Development Finance Authority; a tax credit equity investment by First National Bank of Fort Smith; a U.S. Department of Housing and Urban Development (HUD) guaranteed conventional loan from Prudential Huntoon Paige; City of Fort Smith street and drainage sales tax funds and Community Development Block Grant funds.

The first phase of the North Pointe project opened in 2007 with 50 units.  North Pointe II was built on the site of the former Ragon Homes family public-housing project.  Ragon Homes was demolished following approval by HUD in 2008 in order to continue the new North Pointe model for low income housing featuring a total of 115 single-family and duplex residences in a neighborhood environment.

The on-site leasing office at 3408 North 6th Street in Fort Smith is open from 8:00 am to 5:00 pm Monday through Friday and is accepting applications and interviewing prospective tenants.

For further information please contact Ken Pyle, executive director of the Housing Authority, at 782-4991, extension 15.

4/4/11