Editorial: If you build it ...
Kudos to the Worthington City Council for its approval Monday night of a loan to the Housing and Redevelopment Authority (HRA) ranging between $600,000 and $800,000.
The HRA had requested the loan to help a 36-unit townhome complex, to be known as Rising Sun Estates, get built. Considering a recent housing study revealed Worthington needs between 91 and 104 additional units to alleviate its zero-percent vacancy rate, council's decision to make the loan -- with the money coming from the legacy funds resulting from its hospital sale -- seems like a no-brainer.
While we're pleased to see the city making a critical contribution toward moving this project forward, it's also gratifying to know that a host of other parties are also involved. Southwest Minnesota Housing Partnership CEO Lisa Graphenteen said Monday that Highland Manufacturing is a partner for construction of the new housing, while United Prairie Bank is its primary financer. Among other financial partners noted by Graphenteen were JBS and Wells Fargo.
We're happy to see these types of entities working together to better Worthington's housing environment. We're hopeful that this effort will help pave the way for similar projects in the future.