Local business secures $3.1 million grant for new Hampton apartment complex

Two Latimer businessmen have secured a $3.1 million state-funded housing grant to help cover construction expenses for a new three-story apartment complex in Hampton.

     KL Holdings LLC owners Kyle Pralle and Landon Plagge learned last Friday that the company received a Community Development Block Grant (CDBG) from the Iowa Economic Development Authority. The grant will help finance a 26-unit apartment complex located on a lot known as Gazebo Park in downtown Hampton. Pralle and Plagge hope to break ground on the three-story building this spring, with a tentative completion date set for late December 2015.

     The project was one of 16 selected from 77 statewide applicants totaling $173.3 million in funding requests. The grant is funded by the U.S. Department of Housing and Urban Development.

    Read the full article in the January 14 edition of the Hampton Chronicle.