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Kansas town gets boost from HUD

A Kansas city's downtown area will be rejuvenated with the help of a $500,000 grant from the U.S. Department of Housing and Urban Development.

A Kansas city's downtown area will be rejuvenated with the help of a $500,000 grant from the U.S. Department of Housing and Urban Development.

Affordable housing will be a major focus of El Dorado, Kansas, as it uses a $500,000 grant it recently received from the U.S. Department of Housing and Urban Development to revitalize its central business district. Moving trucks may be a common sight in the city, because not only will more affordable housing be available, but the project will create jobs.

El Dorado has a population of about 13,000 and is located about 33 miles northeast of Wichita. The upper stories of the city's Ellet's Opera House and Gish Building will be transformed into one- and two-bedroom apartments, 10 of which will be reserved for very low-income residents.

The project will be developed by a joint venture, WMS Partnership, that was formed by Gish Apartments and W&M Enterprises. The historical integrity of the buildings will be maintained while the interiors will be revamped with Energy Star appliances and windows. The city will use other funding to remodel the first floor of the opera house for 5,000 square feet of commercial and retail space.

The average listing price for El Dorado homes is $125,828 for the week ending September 21 - an increase of 1.1 percent from the previous week, according to Trulia. The city's median household income is $33,098, compared with the state average of $40,624.