In early 2018, KBK Enterprises was awarded the opportunity to work with the Wichita Housing Authority (WHA) on the renovation of four WHA RAD (Rental Assistance Demonstration) asset management projects. As the Developer Partner, KBK Enterprises will work with WHA to finance, design, and oversee the renovation work at Greenway and Mclean Manors, Gragg/Hutcherson senior units, as well as hundreds of scattered single family homes across Wichita.
KBK will specifically be responsible for working with WHA and any related entities created, arranging the appropriate financing for all phases of development in conjunction with the development of the RAD Sites, securing tax credits as well as other financing.
KBK Enterprises will assist and advise WHA on financing strategies, RAD rules and regulations, and the application process. This will result in communities of mixed income to include market rate, affordable and tax credit properties.
In total, 578 units of public housing will be updated as a part of this initiative with the first work estimated to begin in early 2019.