There’s some risk involved in converting three elementary schools into housing — but there’s also the possibility of huge rewards in delivering more than 60 new units of housing and saving three historic buildings that have been critical to educating the community for decades.
First, developers will need all three buildings added to the National Register of Historic Places.
Then, they’ll need to wade through a competitive process to secure low-income housing tax credits.
After those things are approved, it will be on to construction. With higher labor costs and supply chain shortages, that’s a gamble, too.
To make it all happen is going to take a commitment not just from the school board and the developers, but the entire community.
“There’s a little risk in it, but it feels like it’s a greater risk not to take that risk,” Dan Willis, president of the USD 257 school board, said.
Representatives of BNIM, a Kansas City architecture firm, were on hand at Monday’s school board meeting to lay out their plans for the buildings. They submitted a massive proposal that would invest about $20 million into all three of the schools, converting them into around 61 mixed-income apartments with the possibility of other types of housing or amenities on the properties.
The company has extensive experience in these types of projects, and has recruited other entities that specialize in historic preservation and tax credit financing.
A TWO-YEAR relationship with Thrive Allen County led BNIM to the project.
James Baker, an associate at BNIM, met members of Thrive through a leadership academy sponsored by Health Forward Foundation. He and others at BNIM were looking for interesting projects that would “inspire change and enhance the human condition.”
He visited Iola and realized there is a lot of momentum for change, but also a lot of challenges — particularly in housing. BNIM’s team toured the elementary buildings last fall and saw the opportunities.
“It’s about team leadership and capacity building,” Baker said. “Everyone needs a little bit of help to get over the hump. We’ve been looking for opportunities to be that extra capacity and also a team leader at the same time.”
Thrive CEO Lisse Regehr said she was glad to see that relationship lead to major investment in the Iola community.
“I’m excited to see a group that is so authentic in what they talk about and has the means to make it happen,” she said.
Community support will be key to making the project a reality, BNIM’s team said. The competitive application process they will need for financing is more likely to be approved if the community stands behind it, they said.
