KETCHUM — Developers broke ground for 32 affordable rental units Monday on the north end of a Ketchum city-owned Park-n-Ride lot adjacent to the Wood River Community YMCA.

“It’s exciting because not much construction is going on in Ketchum right now. This means jobs and homes at the same time,” said Michael Carpenter, chairman of the Ketchum Community Development Corporation’s affordable workforce housing team.

Nancy Smith, program director for the Blaine County Housing Authority, spoke to the importance of the new development: “In Hailey we have seven different apartment complexes for low-income people but there’s nothing else in Blaine County. There’s nothing in Ketchum, Bellevue or Carey.”

Northwood Place is the first Low Income Housing Tax Credit project in Idaho to close with federal stimulus funds. The project beat out 19 other projects statewide to receive $8.8 million in federal low-income housing tax credits awarded by the Idaho Housing and Finance Association.

Also chipping in was the city of Ketchum, which agreed to lease the property for the development at significantly less than market value, said Neil Morrow, executive director of KCDC.

The project will feature five buildings totaling 32,000 square feet on .84 acres. It will include 12 one-bedroom units, 14 two-bedroom units and six three-bedroom units ranging in size from 617 to 1,234 square feet.

The project will feature buildings organized around a courtyard with a terrace and raised planting beds. There will be an indoor community room with a kitchen and covered parking.

Monthly rent will likely range between $430 and $1,074 — maybe even less, said Carpenter: “The goal is to provide apartment rentals that someone making $8 an hour can afford.”

The project is designed by Ketchum architect Dale Bates with Living Architecture. It will be developed by Allied Pacific Development, which specializes in building low-income housing, and built by Okland Construction, a Salt Lake City firm with an office in Ketchum.

Carpenter said he hopes construction will be complete by the time snow flies next year. Construction was delayed due to changes in the housing credit program, but Okland took a risk by starting work in late September, Carpenter said.

“They should start pouring concrete this week,” said Carpenter.