O’Reilly Development Co. breaks ground

42-unit build in Mt. Vernon should be finished by January of 2025; includes veteran housing
O’Reilly Development Company (ODC) officially broke ground on a new housing development in Mt. Vernon on Monday, Oct. 23. The project, called Mountaintop Homes, will be located just east of the Missouri Veterans Home in Mt. Vernon, and is being built by ODC. The development will create 42 housing units, eight of which will be reserved for veterans and their families who are at risk of homelessness (veterans would also be eligible to live in the other housing units).
Denise Heintz, co-founder and chief operating officer at ODC, said the project would help fill a need for housing in the area.
“O’Reilly Development has always participated in the Missouri Housing Development Commission Affordable Housing Program,” she said. “I started my career with this type of project 30 years ago, and it’s important … that we not only build Class A high income market rate communities, but we also build Class A affordable, mixed-use communities, and that’s what this is.”
Heintz said that the City of Mt. Vernon has pledged their “unconditional support” for the project, which she said is “critical” to its success. Likewise, the project also has support from the federal and state governments in the form of tax credits.
“The Missouri Housing Development Commission administers the federal affordable housing tax credits as well as the … Missouri State credits,” she said. “So, it is a competitive application process through them that awarded this project. So there are both federal and state housing credits associated with it.”
The tax credit, she said, would be a nine percent credit on “eligible costs, which are depreciable costs, times 10 years.”
Heintz also said that Mountaintop Homes will be completed around January of 2025.
Partnering with ODC is the Catholic Charities of Southern Missouri, which will provide social services to clients who will be living in the development.
“Our role the on-site coordination with case management services on an individual level, not only for the veterans who are here but also the other clients,” said Ken Palermo, the organization’s chief executive officer. “And being able to offer case management services under a stable roof, as in a home, they’re going to be the best way to ensure longevity, with their successes throughout life.”
Jason Haymes, mayor of Mt. Vernon, said that the construction of Mountain Homes would benefit the city greatly.
“We’re very excited to have a development like this coming to our city,” he said. “One of the big challenges that we have in Mt. Vernon is that it’s such a great place to live (that) everybody wants to come here, but it’s hard to find housing. So, this development is going to provide 40-plus units that will be good for families, good for people to come. And if they’re working either in Joplin or Springfield, this is a good location to land, and a nice small community that has good values. It’s a safe place, and this is just going to help contribute to that more. Like I said, one of our challenges is affordable housing and housing in general, and we’re really glad to see this development proceed.”