COLUMBIA, Mo. — Construction is progressing on Providence Landing, a new development of 14 affordable homes near Providence Road and Hickman Avenue, spearheaded by Central Missouri Community Action (CMCA). Funding for the project was secured last year, combining federal, county, and local resources.
According to a housing study by the city of Columbia and Boone County, the area faces a shortage of 5,000 to 6,000 homes, highlighting the urgent need for affordable housing.
“We're really targeting folks who have been renting,” said Darin Preis, Executive Director of CMCA. “They can afford to pay a mortgage they just haven't been able to save up for that down payment, and so this is a really nice first step into home ownership.”
The Providence Landing development will feature a mix of one-, two-, and three-bedroom units. Preis emphasized the quality of the homes:
“What homebuyers can expect is really high-quality housing — they are really energy efficient. Brand new houses obviously.”
Priced between $160,000 and $250,000, the homes will be heavily subsidized, with buyers responsible for only 80% of the sales price, while CMCA covers the remainder. Funding comes from Columbia and Boone County ARPA funds, Veterans United, and $200,000 in recently approved city home funds, totaling approximately $5 million, with $3 million in federal resources.
“That's all federal dollars that passes through the city and passes through the county,” Preis said.
CMCA is collaborating with local banks for gap financing, ensuring that proceeds from home sales help repay loans, while public investment underwrites the remainder. Preis also noted that the current government shutdown will not affect these funds, which were approved under the Biden administration.
Construction is moving quickly:
“Significant construction is underway; we basically have all the structures up,” Preis said. “They are all under roof. They are all framed. Before it gets really cold we are hoping to put down the concrete parking lot.”
Homes are slated for completion by spring 2026, and city records indicate a 20-year affordability commitment, though CMCA plans to continue offering 20% down payment assistance to future buyers indefinitely.
“As long as we have a stake in those homes, we will continue to offer 20% down payment to any subsequent buyers,” Preis said.
There is no limit on how long residents can stay, ensuring stable, long-term housing options for Columbia families.
Originally reported by Cecelia Koparanyan, KOMU 8 Reporter in KOMU.
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