FOURMIDABLE was designated as the new managing agent for two affordable Section 8 communities consisting of 404 apartments in Missouri and Michigan.
Alcazar Apartments consists of 142 affordable apartments in Kansas City, Missouri. Alcazar offers studio, one- and two-bedroom floorplans and features controlled access, business center, laundry facilities and on-site parking options.
The new ownership group has plans to install new security doors and cameras as well as add additional parking. A name change is also in the works. Alcazar Apartments is a HUD Section 8 community. Rents are based on 30 percent of gross income.
Sycamore Meadows, a 262-unit affordable apartment community in Ypsilanti, Michigan, consists of one-, two- and three-bedroom townhomes, some with basements. Sycamore Meadows is a HUD Section 8 community and is centrally located near parks, downtown and public transportation. Rents are based on 30 percent of gross income.