Location: El Dorado, KS

Role: Lead Developer, GP Team, General Contractor, Property Manager

Capital Stack: KHITC Equity, MIH Grant, Local Eco Devo Funds, RHID, State and Federal Historic Tax Credits, KHRC Revolving Loan Funds, Construction LOC

Challenges: Located at a prominent intersection in downtown El Dorado, the former Masonic Hall building located at 124 S Main Street had long been vacant before going under contract with Frontier. The four story building had broken windows, a leaking roof, and was beginning to suffer from brick failure due to water intrusions along the alley wall. This was contributing to a public safety issue, while also being an eye sore for a community experiencing a downtown revitalization. Our team worked closely with the City Managers office, city engineers, and the City Commission to secure funding via a Moderate Income Housing Grant and Kansas Housing Investor Tax Credits from Kansas Housing Resources Corporation. Collaborating with local architects and planners, we worked with both the State Historic Preservation Office and National Park Service to qualify the project for Historic Tax Credits. We also successfully secured an RHID district for the building. The project will result in a fully restored ground floor commercial space, as well as 13 modern apartment units on the upper floors, complete with new windows, an elevator, and high end amenities.