Maple Street goes HD - "High Density"

This morning, the Missouri Housing Development Commission (MHDC) had their annual meeting in Columbia, Missouri.  On the agenda is a list of new projects getting public subsidies for affordable housing throughout the state, including the proposed 41-unit Palmer Senior housing in the heart of the Truman National Historic Landmark District.  Also on the agenda is a review of past projects on the “Watch List” that have not been managed properly.  Ironically, one of those projects is Cohen-Esrey’s Maple Avenue Apartments, a 64-unit rental development right next door to the proposed Palmer housing development.  MHDC's official report states there has been a “decline in economic conditions causing increased skips and evictions for non payment of rent. Management is offering incentives to attract residents. Staff inspected the property in October 2012 and found the physical condition, marketing techniques, and overall management of the property needing improvement.”  This once celebrated and award-winning project that had overwhelming public support from the very beginning is now lowering its standards for property management and maintenance and in selecting renters.  Neighbors on Maple Street are also noticing the difference.  What was once full-time staff is now only part-time. Even upholstered furniture has been left out on the sidewalk for weeks.  The executives from Cohen-Esrey, an Overland Park based property management corporation, probably don’t get out this way very often. So why would MHDC approve another development right next door to the Maple Avenue project?  Won’t the economic conditions noted on Maple Avenue in the MHDC report challenge and negatively impact the Palmer project?  Do officials in Jefferson City connect the dots?  Is this the normal business cycle for these for-profit corporations as they get into the last half of their housing contracts?  The MHDC report fails to mention the most important fact concerning the Maple Avenue project.  It’s happens to be located in the most important residential neighborhood in the State of Missouri.  And Maple Street is a prominent pedestrian corridor that links the Truman Home National Historic Site with the Square.  As Maple Street goes "HD", stay tuned to the reality programing and drama to come.