Changes To Redi Program Help Address High Demand For Affordable Housing In Watertown
30 Jun 2021
WATERTOWN, S.D. — The lack of housing in Watertown has been well-documented as the area continues to grow. But developers say building workforce housing is not easy without some help in reducing the costs of construction. State, city, and economic development leaders say they are aware of the problem and are taking action.
To combat the problem, The Governor’s Office of Economic Development has recently revamped its South Dakota REDI (Revolving Economic Development and Initiative) Fund to include low-interest loans to developers for workforce housing projects.
“I want to thank community leaders in Watertown for their visionary approach to filling the workforce housing gap,” said Governor Kristi Noem. “Strong communities start with strong families, and families belong in a home. This project puts Watertown in a good position for future development.”